Maxed out and Burnt Out

**distaco** · 08-31-2008, 09:56 AM

Hello everyone.

I haven't spent any time lurking, I have jumped right in, mostly out of desperation. As you can tell by my limits in my sig, I am maxed out. I have taken a part time job to try to pay things down but after a month of working part time, nothing has changed, so clearly, it's not about my income, it's about my spending. I think I have been in denial for awhile. I have a friend who spends indiscriminately and I have mostly been watching him in awe. When he gets hung up, he just goes and gets more credit and this is not something I want to do.

So far this site has made more sense to me than anything else I have looked at. I have some money going into an RRSP (100/month) and I have 25 bucks a pay going into a Canada Savings bond. I have some good debt, my mortgage. But I would like to fix up my house a bit so I really really need to pay down my LOC and CC's. So here I am, open to any and all suggestions. I am going to go through this forum with a fine toothed comb! I am so glad that you guys are here, even though I don't know you!

Thanks. I hope this helps with the sinking feeling I have.

**daughter of pearl** · 08-31-2008, 10:02 AM

Welcome, and believe me, you have come to the right place...check out some of the posts under Debt Reduction...do a search for snowballing to start making payments to your debts that will help things turn around

It is great that you recognize the pattern you are in and are not willing to follow you friend into the credit maze...

Keep reading, keep posting! Take care!

A fellow Canadian who'se been there,
Janet

**GiddyMoon** · 08-31-2008, 10:04 AM

Welcome

I am brand new here too but I can tell you people seem pretty friendly.

Being frugal can turn into a GOOD addiction once you see how far you can go. You are making the right moves..nice to meet you!

Amber

**emily_hope** · 08-31-2008, 10:09 AM

One of the first things you can do is keep an account of all your spending. For the next month, everything you spend, write it down. If you are in the habit of buying a coffee every morning, jot it down. When you go to the grocery, keep up with what you spent on food. Gas for your car... write it down. Write down everything. Keep a spending log. You will be able to see where every penny of your money is going. Decide then what you can do without and start pinching those pennies. More than likely it won't take the whole month for you to see where money is slipping through your fingers. It's wonderful that you are trying to get a handle on things. Good luck.

**distaco** · 08-31-2008, 10:48 AM

Thanks everyone. You guys are great.

I am open to any and all tips. The writing things down one is good, I already have a little notebook here for me to start charting things. And I just rolled up all my change. I have a change jar, always had one but I mostly don't look at that.

I am very very bad for setting aside bills "to pay later, with my next paycheck." Often, they remain unopened. I'm actually pretty up to date with them if you can believe it, I just did a check on my stuff and I'm good but I can't help but think there is a more efficient way to do it. What do you guys do? I thought maybe a file folder.

wow. I am so disorganized with my money. It's embarrassing, but I know I can't save my face and my ass at the same time.

**kmsinsa** · 08-31-2008, 11:10 AM

Welcome to FV

Like the others have said, there is a wealth of information here. I was like you in the bills to pay later club. This site has helped me get organized and stay focused on getting rid of my debt.

**Gabe** · 08-31-2008, 02:14 PM

Hello there!
Welcome to Frugal Village.

The [ame="http://www.frugalvillage.com/forums/forumdisplay.php?f=272"]money[/ame] section seems like the best place for you right now.

Nice to see another Canuck here!

(Formerly from Canada before Sara abducted me)

**dcompton** · 08-31-2008, 02:33 PM

If you are disorganized, it is essential that you set up a budget. As a rough starting point, list your income for the month and every known bill coming out of it. For those with variable amounts, estimate on the high side. And I agree - track your spending ruthlessly for at least a month.

I see you are over limit on one of your cards. That should be a priority, as well as catching up anything you are behind on.

I would suggest also trying to become aware of where money is leaking out through the grocery bill - that can be a frugality killer. You don't have to cook everything from scratch or give up all the "goodies" - at least not cold turkey. That's just too hard when you have so much to get a handle on. But try to be mindful of what kinds of things you are buying there. The chips and coookies and drinks and such can really add up fast.

You will get lots of help and support here. Just signing on to FV is a very good beginning.

**Neeley** · 08-31-2008, 03:54 PM

**3tomboys** · 08-31-2008, 06:06 PM

Welcome to FV! You will find a lot of good ideas here. You have taken the first step recongnizing that you need to make some financial changes. I agree that the first thing is to track your expenses and making a rough budget.

**ladykemma2** · 08-31-2008, 07:31 PM

Originally Posted by distaco

Thanks everyone. You guys are great.

I am open to any and all tips. The writing things down one is good, I already have a little notebook here for me to start charting things. And I just rolled up all my change. I have a change jar, always had one but I mostly don't look at that.

I am very very bad for setting aside bills "to pay later, with my next paycheck." Often, they remain unopened. I'm actually pretty up to date with them if you can believe it, I just did a check on my stuff and I'm good but I can't help but think there is a more efficient way to do it. What do you guys do? I thought maybe a file folder.

wow. I am so disorganized with my money. It's embarrassing, but I know I can't save my face and my ass at the same time.

the debtor's anonymous method may be helpful here.
pay today's bills today. in and out in 24 hours.
a bill does not sit on your desk overnight.

it's what i do.

i don't bother rolling my change, just take it to the grocery store and using the change machine (cashstar) and buy groceries with it. my time is valuable.

**DJ1972** · 08-31-2008, 07:45 PM

Hi and welcome to FV!

**wwe11** · 08-31-2008, 08:12 PM

Hi and welcome

**Mom23boys** · 08-31-2008, 09:33 PM

Hello and welcome to the Village.

**madhen** · 08-31-2008, 10:45 PM

If encouragement helps at all, you will find a wealth of it here. Every time I spend a few minutes on this site, I feel a renewed desire to be frugal that last me several days. The trick is to make it an active part of your life, not just something that you think about when things are tight.