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  1. #1
    Vickie
    Guest

    Default Hello all need help budgeting

    Hello all

    Please let me introduce myself, I am a married lady of 32 years, just

    hit the big 50 a few weeks ago and still in debt! My husband is

    planning on retiring in just 8 years and if I dont get my mortgage

    down I will be paying on it probably til we die. Im thinking about

    paying more principal each money and I have done somewhat but it is

    not making major dents in this.

    I also owe $2400 on a student loan, I have been out of school nine

    years (dont know what I was thinking doing that one!) Several credit

    cards ( i dont get along with them but they pay my bills lol) and 26

    more years on a mortgage if I dont pay if off before then.



    My parents had their mortgage paid off when they retired and my dad

    retired at 55. Plus they had one more child than i had, I had 3 and

    they had 4. However my mom was a VERY THRIFTY LADY!!!



    Help me sort what i need to pay off and how to get this mortgage

    down. I will admit to being somewhat of a shopacholic but you all

    know how fun it is to shop but I am finding shopping and getting a

    mortgage free home dont work!




    THANKS FOR YOUR ADVICE AND IM PLEASED TO JOIN THE GROUP



    VICKIE








  2. #2
    Herlean
    Guest

    Default Hello all need help budgeting

    Vickie, Welcome. I am younger than you are, but my goal is to pay off our mortgage as soon as possible too. I have student loan debt, terrible credit card debt to pay off (tips anyone???) and currently one child. Looking forward to having more though. Herlean

    Vickie <Vcoumb@aol.com> wrote: Hello all
    Please let me introduce myself, I am a married lady of 32 years, just
    hit the big 50 a few weeks ago and still in debt! My husband is
    planning on retiring in just 8 years and if I dont get my mortgage
    down I will be paying on it probably til we die. Im thinking about
    paying more principal each money and I have done somewhat but it is
    not making major dents in this.
    I also owe $2400 on a student loan, I have been out of school nine

    years (dont know what I was thinking doing that one!) Several credit
    cards ( i dont get along with them but they pay my bills lol) and 26
    more years on a mortgage if I dont pay if off before then.

    My parents had their mortgage paid off when they retired and my dad
    retired at 55. Plus they had one more child than i had, I had 3 and
    they had 4. However my mom was a VERY THRIFTY LADY!!!

    Help me sort what i need to pay off and how to get this mortgage
    down. I will admit to being somewhat of a shopacholic but you all
    know how fun it is to shop but I am finding shopping and getting a
    mortgage free home dont work!

    THANKS FOR YOUR ADVICE AND IM PLEASED TO JOIN THE GROUP

    VICKIE




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  3. #3
    marie selders
    Guest

    Default Hello all need help budgeting

    Take the credit cards out or your wallet. Don't use them at all. Double or triplethe minimum payment, if you can (at least pay more than the minimum and pay as much as you can). Keep doing it until it's paid. Then take what you were putting on the credit card payment and add to the mortgage payment. Any 'extra' or windfall money put on the mortgage. We always put tax return money on debt reduction. Birthday money from our folks go on it, too (after a nice meal out). Bonuses from work goes on it, too. My husband and I paid off a business loan, a personal loan and are about 2 1/2 years from paying his student loans. Then we will owe no man. Marie

    Herlean <wm_jun99@yahoo.com> wrote: Vickie, Welcome. I am younger than you are, but my goal is to pay off our mortgage as soon as possible too. I have student loan debt, terrible credit card debt to pay off (tips anyone???) and currently one child. Looking forward to having more though. Herlean

    Vickie <Vcoumb@aol.com> wrote:

    Help me sort what i need to pay off and how to get this mortgage
    down.


    Ahhh...imagining that irresistible "new car" smell?
    Check out


    &#32;
    Ahhh...imagining that irresistible "new car" smell?
    Check out




  4. #4
    herberkids3
    Guest

    Default Hello all need help budgeting

    Agreed! So many people think Credit Cards are out to "help" you,

    when in actuallity, unless you have enough money to pay them off at

    the end of the month, they are costing you your hard earned money in

    interest, and if late- late fees, overlimit fees, etc.



    Rather than helping you, they can actually hurt you in the long run,

    and create an endless cycle of "needing" a credit card. You don't!

    Need is a word I feel strongly about.



    I describe a need as something that keeps you alive- shelter, heat,

    electricity, clothing, food.



    Anything else is want- cell phones, cable tv, expensive cars, newer

    cars, gadgets & gizmo's, etc. You need to sort your priorities- Make

    a budget, basically.



    Sort your needs from your wants, first, and cancel or cut back on

    any extra wants that are hurting you financhially. If you have a

    cell phone you use, check your monthly minutes. Are you using too

    many? Not all of them? Cut back on how you use it, if you overspend

    minutes. Cut back on the minutes plan if you under use it. It will

    save you money!



    If you have cable TV, do you watch all those channels? Or just a

    handful? Check if you can reduce the channels you get for a lower

    monthly price- or, try shutting it down for the summer, and put the

    money towards the house payment.



    Now, to help with the house-



    First off, contact the mortgage company, and ask about over-

    payments. Some places have a rule- over payment must be $50 or more

    in order to go towards principle, or it goes to interest first, etc.

    Make sure you know before hand, so you aren't losing more money on

    interest.



    Next, see if you would qualify for refinancing it at a lower monthly

    interest rate. If you do, ask what's needed to do it, and what the

    payments would be, how long the payment period is (will it take 10

    years? 20?, is it shorter than before? Longer?, etc).



    Last- consider a yard sale. I know, I know, they're hard work, and

    the money isn't always the best- but sometimes it can be! Look at

    older furniture, closets, boxes collecting dust, etc. Haul it all

    out, sort it into piles: stuff to keep, stuff to throw out, stuff to

    sell, stuff to pass on.



    Hae a yard sale, and put the money towards either paying off the

    credit cards, or paying on the house loan. If you live on a

    residential road with lots of other houses, ask neighbors to

    consider doing a neighborhood-wide yard sale. These types attrack a

    LOT of attention, so you'll get more shoppers. You will also be able

    to save on advertising. Make up (or have someone make up) 1 large

    sign for the end of the road on each end, and everyone chip in for

    an add in the paper (they cost about $20 for a good long add, but if

    5 houses join, it's a joint advertisment for $4!).



    For saving money in other ways, simply cut back on the wants. Do you

    eat out for lunch or dinner at all? Cut back how often in half. If

    you go to lunch 4 days a week, go twice a week, and pack or make

    lunch at home the other 2 days. Put the money you save into a change

    jar.



    Order water with lemon to drink- it's free. A soda might not seem

    like much, but at $1 or more for a glass, it adds up. Order a less

    expensive meal than you normally would. Again, it might only be a $1

    or $2, but it adds up. If you normally spend $6 for a lunch, and eat

    out 5 days a week, that's $30 a week, or $1,560 a year. If you cut

    out 2 days a week, there's $12 saved. If you cut back what you eat,

    and drink, that's $9 more saved per week. That brings the costs down

    to $468 a year- over $1,000 saved.



    If you go out to dinner once a week, cut back to once every other

    week. Again, stash the money into a change jar. I personally use a

    large mason jar. I put dollar bills and change into it as I collect

    it through out the day. Yesterday, I cashed my jar out, and

    deposited it into my vacation fund- $70 even! And only $28 was from

    dollar bills. It adds up.



    Once a month (or longer, if the jar is less than half filled), roll

    the coins, or cash them in at a coin machine, count up the dollar

    bills (or larger, if you have them), and make a deposit into the

    bank to help earn interest. Use it towards your house payment or

    credit cards.



    Other wants that can be cut back on- drive less if you are able.

    Combine errends so you waste less gas. When getting gas, just get

    the gas- don't buy the over priced sodas, the candy bars, the chips,

    etc. If need be, keep some snacks with you in the car to avoid

    impulse buying at the gas station or corner store.



    Shop wisely. If an item is on sale, and you buy it once a week, buy

    2 this week, and save the extra money. If you have a coupon for that

    item, save the coupon for when it goes on sale. Let's say you buy a

    type of biscuit every week, and spend $1.49 per tube. It goes on

    sale for $.99, and you have a coupon for $.35 off- suddenly, that

    tube is now $.64- less than half price. If that coupon doubles at

    your store, it's only $.29! Stock the coupons, and you can buy 4 for

    the month at $1.16- less than it costs for 1 at full price.



    Invest in a garden this summer. Plant stuff you eat more often-

    fresh melons, fresh veggies, etc. It'll pay off when you have free

    food coming up in the garden!



    Stop using the credit cards unless absolutely necessary! It will

    take a while to cut back completely, I know, since they are helping

    you pay the bills. But if you can find any money saving advice

    above, then you should be able to have more money available at the

    end of the month to pay bills with, and that credit card should

    become obsolete.



    Hope this helps you (or anyone else!)

    Heather





    --- In Budget101_@yahoogroups.com, marie selders <s3ld3rs@...> wrote:

    >

    > Take the credit cards out or your wallet. Don't use them at all.








  5. #5
    Herlean
    Guest

    Default Hello all need help budgeting

    That is great advice. Part of the problem is a lack of savings. It would be

    great to just go to the bank and take out the money when something comes up.

    Since there is nothing in savings, the credit card debt grows. It's not like

    you can do without brakes for the family car. (The last thing to go on the

    credit card was brakes and other vehicle repairs.)



    There is no way to double the minimum payment on the credit card. My hubby is

    seeking PT work though, which will all go to paying down the debts.



    Herlean



    marie selders <s3ld3rs@yahoo.com> wrote:

    Take the credit cards out or your wallet. Don't use them at all. Double or

    triple the minimum payment, if you can (at least pay more than the minimum and

    pay as much as you can). Keep doing it until it's paid. Then take what you were

    putting on the credit card payment and add to the mortgage payment. Any 'extra'

    or windfall money put on the mortgage. We always put tax return money on debt

    reduction. Birthday money from our folks go on it, too (after a nice meal out).

    Bonuses from work goes on it, too. My husband and I paid off a business loan, a

    personal loan and are about 2 1/2 years from paying his student loans. Then we

    will owe no man.

    Marie



    Herlean <wm_jun99@yahoo.com> wrote:

    Vickie,



    Welcome. I am younger than you are, but my goal is to pay off our mortgage as

    soon as possible too. I have student loan debt, terrible credit card debt to

    pay off (tips anyone???) and currently one child. Looking forward to having

    more though.



    Herlean



    Vickie <Vcoumb@aol.com> wrote:



    Help me sort what i need to pay off and how to get this mortgage

    down.








  6. #6
    Yolonda
    Guest

    Default Hello all need help budgeting




    Car repairs – check with local high
    school or trade schools that teach car repair. We have a few here in Memphis that allow you to
    bring your car in for the kids to work on. They get experience and you
    get free repairs. And here the work is good as they must have the instructor
    go over everything and make sure it’s good so they can grade them.



    Mortgage – we round up our payment to
    the next hundred every month and use bonus money from work towards it as
    well. You would think that wouldn’t allow for much towards the
    bottom line but it does!! According to my amortization statement I should
    only be at the 46<sup>th</sup> payment but the actual balance I owe is lined up
    the payment number 82 (36 payments ahead!!). You don’t say what
    kind of mortgage you have but if it’s an ARM I would highly suggest you
    refi to a fixed rate. That in itself will save you money.



    Good luck!

    Yolonda












    (The last thing to go on the credit card was
    brakes and other vehicle repairs.)



    Herlean



    Vickie <Vcoumb@aol.com> wrote:



    Help me sort what i need to pay off and how to get this mortgage down.

    12.0pt;color:



  7. #7
    Herlean
    Guest

    Default Hello all need help budgeting

    Our mortgage is fixed. Herlean

    Yolonda <yoledgerwood@bellsouth.net> wrote: <DIV class="Section1"> <div class="MsoNormal">Car repairs check with local high school or trade schools that teach car repair. We have a few here in Memphis that allow you to bring your car in for the kids to work on. They get experience and you get free repairs. And here the work is good as they must have the instructor go over everything and make sure its good so they can grade them. <div class="MsoNormal"><SPAN style="FONT-SIZE: 10pt;COLOR: navy;FONT-FAMILY:
    Arial;"> <div class="MsoNormal">Mortgage we round up our payment to the next hundred every month and use bonus money from work towards it as well. You would think that wouldnt allow for much towards the bottom line but it does!! According to my amortization statement I should only be at the 46<SUP>th</SUP> payment but the actual balance I owe is lined up the payment number 82 (36 payments ahead!!). You dont say what kind of mortgage you have but if its an ARM I would highly suggest you refi to a fixed rate. That in itself will save you money. <div class="MsoNormal"> <div class="MsoNormal">Good luck! <div class="MsoNormal">Yolonda <div class="MsoNormal"> <DIV id="ygrp-msg"> (The last thing to go on the credit card was brakes and other vehicle repairs.)

    Herlean

    Vickie <Vcoumb@aol.com>
    wrote:

    Help me sort what i need to pay off and how to get this mortgage down. <div class="MsoNormal"><FONT face="Times New Roman" color="white" size="3"><SPAN style="FONT-SIZE: 12pt;COLOR:


    &#32;
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    Check out




  8. #8
    Maja Drouin
    Guest

    Default Hello all need help budgeting

    As to creditcards,if you got good credit and got credit card dept, a great tip that we have done is to transfer your dept into 0 % creditcards, we got alot of those offers in the mail, and long time ago we had a 20% interest rate creditcard with a balance, we wanted less interest rate and our bank wasnt able to help us out, so we decided to take advantage of the creditcards offer we got in the mail. A few month before the 0% expires we shop for new 0% creditcards to transfer the balance if any left. Just pay the minimum and if able to make extra payments to it. As to going out for lunch, when ever we as a family goes out especially to mcdonalds and other fast food restaurants we only order one beverage for my husband and I to share, and just do refills, also we usually dont order combo meals, but order from the value/dollar section etc. When we go to regular restaurants we order icewater to drink.

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    Alt i n. F Yahoo! Mail med adressekartotek, kalender og notesblok.


 

 
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