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  1. #1
    jessjane80
    Guest

    Default new to this group....and searching for answers :o )

    I am a young professional who is trying to get out of her post-college

    debt! I make good money now..but just dont understand why I cant seem

    to make ends meet! I am looking for anyone who has been in my shoes,

    has any sort of advice on any type of step to help get my head above

    water. I have made one first step in looking for a new home closer to

    my job to eliminate the driving and the gas that I am putting in my car

    each week. But after that...I really dont know what the next step would

    be. I appreciate anyone that sends me a note! Have a great day!








  2. #2
    MARGARET GRAVES
    Guest

    Default new to this group....and searching for answers :o )

    It has been a lot of years since I was in your stage

    but I can tell you to eliminate all extras. Lunches

    out,Lattes,Ordering dinners out really can add up

    faster than you think. Try writing down every penny

    you spend for at least two weeks and you will begin to

    see just where your money is going. Good luck and

    bless you for trying to live more debt free.It is a

    lesson some of us never learn until we are in our

    late 40's.God Bless

    --- jessjane80 <jessjane80@yahoo.com> wrote:



    > I am a young professional who is trying to get out

    > of her post-college

    > debt! I make good money now..but just dont

    > understand why I cant seem

    > to make ends meet! I am looking for anyone who has

    > been in my shoes,

    > has any sort of advice on any type of step to help

    > get my head above

    > water. I have made one first step in looking for a

    > new home closer to

    > my job to eliminate the driving and the gas that I

    > am putting in my car

    > each week. But after that...I really dont know what

    > the next step would

    > be. I appreciate anyone that sends me a note! Have a

    > great day!

    >

    >









    __________________________________________________ ______________________________\

    ____












  3. #3
    Feline
    Guest

    Default new to this group....and searching for answers :o )

    Hi there! Also,think about all those hidden extras that masquerade as needs. Cable tv cable internet (community dial-up internetis free or nearly free) magazine subscriptions online subscriptions newpaper delivery gym memberships cellphone / really fancy cellphones or blackberries All those extras that go on the cellphone like ringtones, games and other downloads. High end personal care itemsinstead of thestore brand equivalent. Hobbies that you don't actually do or enjoy but still collect stuff for. Here's another small biggy....the stuff you buy to service or accessorize the stuff you already have....i.e Cellphone accessories like ear pieces and holders), fee-based songs downloaded to your i-pod or mp3 player, Drycleaning
    bills for the new, dryclean only clothes you buy, special expensive batteries for your digital camera, the photo-printer for your digital photos, high-cost ink for your low-cost printer, all that software for your computer, new furniture to hold your extra stuff, paid off-site storage for the stuff you don't use yetdon't want to get rid of. Acar....this is the biggest money drain for most people. If your car does not earn it's keep,if itdoes not earn you money but is costing you money every month. Get rid of it and buy a bus pass.Sell it and use the money to pay down debt. A car can earn/save you money if: You get paid to have advertising painted on it. You get paid to rent it out to the film industry (good forunique, vintage or really high-end vehicles) You use your car as part of your business and can write of some of the expense it generates. You become part of car pool and get people to chip in on the gas money. It's going to be tough to give up some of these things at
    first, however, remind yourself that this is only for a short amount of time. Money won't be tight forever, you can do this!

    jessjane80 <jessjane80@yahoo.com> wrote: I am a young professional who is trying to get out of her post-college
    debt! I make good money now..but just dont understand why I cant seem
    to make ends meet! I am looking for anyone who has been in my shoes,
    has any sort of advice on any type of step to help get my head above
    water. I have made one first step in looking
    for a new home closer to
    my job to eliminate the driving and the gas that I am putting in my car
    each week. But after that...I really dont know what the next step would
    be. I appreciate anyone that sends me a note! Have a great day!




    &#32;
    Ask a question on any topic and get answers from real people. Go to Yahoo! Answers.


  4. #4
    mem68
    Guest

    Default new to this group....and searching for answers :o )

    Pay your self first-this means putting 10%of the money you bring home into

    savings. If you can't do this have your job take it out before you get it

    and put it into savings.Is there a credit union at your job? Credit unions

    are great to get established with -they have savings accouns,Christmas

    acounts,loans for homes etc.,loan for cars,usually at a lower interest

    rates.

    Then pay your debts. Pay your charge off each month.

    Cook from scratch. Search at Goodwill on the last week end of the month for

    your clothes. You will be surprised at what they have for work and church

    to wear.

    Wash clothes only when you have a full load. Hang in the house or outside to

    dry.

    Each grocery shop use coupons,shop only the outside of the store isles,

    buy loss leaders, buy on sale, buy one thing extra to start filling a

    pantry, plan your trips to save on gas-stop for items on you way to and from

    work,





    ask youself "IS THIS PURCHASE A NEED OR A WANT?"

    ----- Original Message -----

    From: "MARGARET GRAVES" <jrslake@yahoo.com>

    To: <Budget101_@yahoogroups.com>

    Sent: Tuesday, March 25, 2008 8:09 PM

    Subject: Re: Budget101.com : new to this group....and searching for answers

    )





    > It has been a lot of years since I was in your stage

    > but I can tell you to eliminate all extras. Lunches

    >








  5. #5
    Sarah Long
    Guest

    Default new to this group....and searching for answers :o )

    Talk to you lender or lenders about consolidating all of your student loans into 1 low interest payment. Moving closer to work is a good idea it just depends on if it will cost more for you than what you are now paying for gas and car in addition to your monthly rent now. Another option is to look for a roommate yourself or someone who is looking for one. You could also check into a car-pooling situation where everyone pays partial cost every week and takes turns driving. Is there a way to use public transporation to get to work or for errands?

    &#32;
    Be a better friend, newshound, and know-it-all with Yahoo! Mobile. [/url] "] Try it now.[/url]


  6. #6
    Shawn
    Guest

    Default new to this group....and searching for answers :o )



    I think the best advice for getting out of debt I have received was from Dave ramsey and Crown Financial. They follow the same sorts of advice.





    1) Keep an emergency fund of $1000


    2) Determine what is in your budget from the last 30 days. Determine what yearly costs you have that are at different intervals (Insurance, Vacation, Medical). Put everything down and spend exactly what you have determined in the budget on **paper** each month before spending for the month. Have a Spending Plan


    3) Determine where you can cut extra spending. Lots of ways to save money on food/entertainment.


    4) Sell whatever is worth money you can get at rummage sales/ebay


    5) Stop using credit cards. I saved about 15% of extra spending by not using a credit card except when we go on vacations to a hotel (once a year or so).


    6) Temporarily stop paying extra on the house


    7) Temporarily stop putting money into your 401K. (WARNING : This only works well if you are planning on getting out of debt in 1 YEAR or so. If you are intense about it you can do it.)


    8) Adjust your withholding so you don't get so much of a huge refund and be certain to put every penny of that money on the DEBT.


    8) Take up a second job temporarily


    9) Cut expenses in all areas of your budget if you are able. For entertainment budget spend more time at the library.


    10) Do a debt snowball. Pay off the debts that are the lowest balance first and do minimum payments on the others. Then when done with the small ones move onto the next biggest sizes


    11) Live in a house/rentthat is less than 25% of your take home pay





    For more information I would truly check out Dave Ramsey or Crown Financial. They were the most helpful to me at first trying to get out of debt. They helped me specifically.





    I had paid off about $14,000 in car debt in8 months in 2007last year by following all of the lessons


    ================================================== =================





    1) I used all but$1000 in savings topay off some of the debt.


    2) I stopped paying extra on the house temporarily


    3) I stopped using a credit card. In the past we had used credit cards and then paid them off each month however I could never keep up with savings by doing this method and I spend between 15% - 20% using a credit card over the budgeted items.


    4) I stopped contributing to the 401K for a short period of time (only during the time I did rapid payoff of the debt for 8 months)


    5) Got intense about paying off debt and saving in all areas of the budget


    6) My wife and I purposed to only spend a budgeted amount each week for all items based on the budget. We never were off but more than $10 or so. We saved tons of money this way.


    7) Goodwill, Library, Picnics, Biking, Walking, Reading, Free Hobbies, etc all helped





    I'm so glad I did this since now I have raised enough for 3 months emergency fund for home expenses and am working on making that larger and plans to pay off my house and fund my retirement better.





    I did follow the same sorts of thing when I paid off my college loans in about 1.5 years after completing college in 1998 but forgot all of this stuff when I startedhaving kids.








    Thanks,


    Shawn





    Here's the websites to check out, but the budget101 website has some AWESOME tips as well.





    <SPAN class="a"><FONT color="#008000">www.crown.org


    <SPAN class="a"><SPAN class="a"><FONT color="#008000">www.daveramsey.com


  7. #7
    Lori
    Guest

    Default new to this group....and searching for answers :o )

    First you have to figure out where your money is going. Write down everything you spend for a month. It's likely you're spending a great deal on convenience items that aren't very expensive on an individual basis but add up very quickly. Start eliminating those extras and then evaluate what you really need. Cable tv, cell phone extras (texting, MP3s, etc.), eating out and buying prepared foods at the grocery store are all budget killers. Add in shopping for clothes or stuff for your home that aren't necessary and your budget is really blown. Set your priorities, make a budget and stick to it. Don't forget to include some money for fun stuff. If you feel totally deprived you won't stick to the budget. You might also consider the envelope system if you find you have trouble sticking to a budget. It's basically living on a cash basis, when you're out of cash you
    stop spending. Google it for all kinds of info. Lori. .

    jessjane80 <jessjane80@yahoo.com> wrote: I am a young professional who is trying to get out of her post-college
    debt! I make good money now..but just dont understand why I cant seem
    to make ends meet! I am looking for anyone who has been in my shoes,
    has any sort of advice on any type of step to help get my head above
    water. I have made one first step in looking for a new home closer to
    my job to eliminate
    the driving and the gas that I am putting in my car
    each week. But after that...I really dont know what the next step would
    be. I appreciate anyone that sends me a note! Have a great day!




    &#32;
    Be a better friend, newshound, and know-it-all with Yahoo! Mobile. [/url] "] Try it now.[/url]


  8. #8
    Shawn
    Guest

    Default new to this group....and searching for answers :o )



    These are very good ideas for cutting down non-essentials. It seems the friends of mine that have the hardest time to get out of debt have a large amount of these types of extras.





    ----- Original Message ----
    From: Feline <feline_destructo@yahoo.ca>
    To: Budget101_@yahoogroups.com
    Sent: Wednesday, March 26, 2008 12:28:15 AM
    Subject: Re: Budget101.com : new to this group....and searching for answers )


    Hi there!

    Also,think about all those hidden extras that masquerade as needs.

    Cable tv
    cable internet (community dial-up internetis free or nearly free)
    magazine subscriptions
    online subscriptions
    newpaper delivery
    gym memberships
    cellphone / really fancy cellphones or blackberries
    All those extras that go on the cellphone like ringtones, games and other downloads.
    High end personal care itemsinstead of thestore brand equivalent.
    Hobbies that you don't actually do or enjoy but still collect stuff for.

    Here's another small biggy....the stuff you buy to service or accessorize the stuff you already have....i.e Cellphone accessories like ear pieces and holders),
    fee-based songs downloaded to your i-pod or mp3 player, Drycleaning bills for the new, dryclean only clothes you buy, special expensive batteries for your digital camera, the photo-printer for your digital photos, high-cost ink for your low-cost printer, all that software for your computer, new furniture to hold your extra stuff, paid off-site storage for the stuff you don't use yetdon't want to get rid of.

    Acar....this is the biggest money drain for most people. If your car does not earn it's keep,if itdoes not earn you money but is costing you money every month. Get rid of it and buy a bus pass.Sell it and use the money to pay down debt.

    A car can earn/save you money if: You get paid to have advertising painted on
    it.
    You get paid to rent it out to the film industry
    (good forunique, vintage or really high-end
    vehicles)
    You use your car as part of your business
    and can write of some of the expense it
    generates.
    You become part of car pool and get people to
    chip in on the gas money.

    It's going to be tough to give up some of these things at first, however, remind yourself that this is only for a short amount of time. Money won't be tight forever, you can do this!



 

 
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