My introduction...

My introduction...

Ok, well after reading all the posts this morning I am wondering if I've done the right thing by signing up here. But I am going to give the group a chance because I'm looking for money savings ideas and wanting to bit by bit chip away at my debt. I do believe I am responsible for

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  1. #1
    suzilmcmullen
    Guest

    Default My introduction...

    Ok, well after reading all the posts this morning I am wondering if

    I've done the right thing by signing up here. But I am going to give

    the group a chance because I'm looking for money savings ideas and

    wanting to bit by bit chip away at my debt. I do believe I am

    responsible for myself and I am seeking ways to reign it all in.



    I am a credit junkie (meaning I've allowed myself to be trapped in the

    never ending credit, pay, get more credit cycle), BUT I am NOT overdue

    in any of my bills. I have NEVER been overdue in my bills. My credit

    rating is not as good as it could be because of the size of my debt

    load. But it's above or near average depending on the reporting

    agency. AND yes I would like to learn how to live within my means at

    least most of the time. However, I do not have anything against

    getting, keeping or having credit cards, mortgages or auto-loans since

    the average person could never save a few hundred thousand for a

    mortgage. Heck, I could never save 15,000 for a used van for my

    business. If we pay rent we lose that huge tax relief called mortgage

    interest and the rent we would pay would usually be a little bit higher

    than what we might pay buying with a mortgage. Why pay someone elses

    mortgage interest for them? That's all we are doing when we rent.



    I would appreciate not being looked at as irresponsible. GASP...I am

    around 50,000 dollars in debt and I am NOT scared or upset at the

    fact. I'm a little miffed at myself for letting the habit get out of

    control. So while yeah, I see and understand some of the viewpoints

    expressed against letting debt get out of control. I don't appreciate

    the militant viewpoints that throw phrases around like "stupid tax".



    I am against total bankruptsy but not against a reorganization

    bankruptsy that allows a person to pay off the debt over time with the

    judge forcing the companies to lower the interest rates. I haven't

    done it myself. I choose to believe I can pay off my smaller cards and

    then direct those payments towards the bigger ones. I comfort myself

    with the idea that my interest payments are putting food on the tables

    of everyone that works for these companies. For those of you that are

    militantly against all credit, have you considered what would happen to

    our country if every family that has one or more wage earners working

    at these banks, mortgage companies, credit bureaus, credit collection

    agencies and finance companies were out of their jobs? After all, they

    earn a paycheck and then spend that paycheck back into our own economy

    which helps us all.



    As for how and why I've gotten into this debt? That's a LOT of various

    reasons including huge dental bills, job loss for 10 months on the part

    of my husband, setting up and re-setting up my business whenever we've

    moved and yes, some of it was luxury items I wouldn't dream of living

    without Do I deserve these things? Heck yeah! LOL. I work 7 days

    per week, 24 hours per day and have for 21 years without missing a

    single day a long the way. It's daycare by the way. I care for

    children from many families on all types of shifts. I get up all times

    of the night to let sleeping children go home and sleeping children get

    dropped off. So all my luxury purchases have been made to make my home

    and daycare appealing to the families and to myself.



    I don't have that big screen tv yet! LOL. I am actually trying to pay

    my Dell account down really fast so that I can feel ok about buying

    one. In fact, my only goal financially at this point is to make sure I

    have 25% available credit in all my accounts. That would increase my

    credit bureau score and lower my interest rates. Then, as I continue

    to step 2 of the proccess, I can pay off everything that is only a

    couple thousand dollars or less which would allow me to close about 25%

    of my overall cards/accounts again increasing my credit score and

    reducing my interest.



    I did just recently buy 492 dollars worth of carpet with CASH! LOL.

    That is a huge step in the right direction for me.



    Suzi








  2. #2
    Val Coulman
    Guest

    Default My introduction...

    Good for you, Suzi!

    A credit card can be a very useful tool - just like other financial options - if it's used properly. Like you, we use ours regularly, too, so that we don't worry about carrying large amounts of cash around. But we have NEVER paid a cent in interest to the credit card company. And the card we have pays us rewards that we use to get free extras that we choose not to include in our budget. It's a win-win-win for us.


    On Thu, Jul 10, 2008 at 6:10 AM, suzilmcmullen <smcmullen@kc.rr.com> wrote:





    I did just recently buy 492 dollars worth of carpet with CASH! LOL.

    That is a huge step in the right direction for me.



    Suzi

    [/quote]
    --
    Val Coulman
    vcoulman@gmail.com



  3. #3
    Lucy Anderson
    Guest

    Default My introduction...

    That is a huge myth....



    While I don't recommend renting (except it today's market it is too crazy),

    mortgage "tax relief" is not that great versus just paying your house off.



    Have you watched the video about our nation and credit cards? I can't

    remember the name of it, but I bet someone here knows it. Very, very

    enlightening. You won't look at credit cards and loans the same way again.





    Would I be sad if credit card companies lost their jobs? Well, I view

    credit card companies with about the same regard as drug dealers. Would I

    be sad if a drug dealer lost his job? No way.



    Militant if you want..... But that's just me. I've seen way too much pain,

    suffering and needless loss from debt.



    On Thu, Jul 10, 2008 at 6:10 AM, suzilmcmullen <smcmullen@kc.rr.com> wrote:



    > If we pay rent we lose that huge tax relief called mortgage

    > interest

    > Suzi

    >

    >

    >










  4. #4
    Suzi McMullen
    Guest

    Default My introduction...


    The question is where is the sadness and loss really coming from? I believe that we are all capable of working, working overtime, 2 jobs if necessary. If we compile the debt, then we may as well pay it off and enjoy our stuff we've collected in the few hours per day we manage to have to ourselves.

    However, I realize that sometime people get into accidents and lose the ability to work. But let's look at this from another angle. If sickness or accident takes away my income, what does it really take? I bring in about 4,000-5000 per month. My bills are nearly as high. But the lions share of my bills are the normal thingsof life everyone has, food, car repairs, medical co-payments, utilities, house payment etc. I agree that paying off a house is aworthy goal. But most of us don't make 100,000+ grand per year and we can not pay a house off in less than the 30 years, 20 if we are really good. Stuff happens, jobs change, we have to move. The averageAmerican moves every 5 years. Paying off a house is an unrealalistic goal for most people. I'm simply saying that it's patently wrong and abusive to try and convince people they are doing something wrong for taking out a mortgage or a car payment. People with far less means than I have come here looking for ways to save money. Maybe some of you should think about toning down what you say or they will leave without even seeking the help and advice.

    Around 1500of my incomeis spent back out onbusiness expenses that I can manipulate downward a bit if needed. I pay about 1200 per month on olddebt. This means that even if I paid off ALL my debt, I really only have 1200-1600 per month over and above what I absolutely must have to pay for a modest living. If I was unable to care for my daycare children and I couldn't have any other sort of job, then where would the nearly 2000 per month I contribute to my family come from now? Put asside any credit card debt. I wouldn't have the money for the basics. No amount of planning will change that. Even disability insurance is not available to daycare providers. But even if a person gets disability insurance it won't pay significantly and a person will live at poverty if they need to collect on it. I have sold disability insurance so I'm well aware of the maximums. God forbid a person lives on the east or west coast when tragedy strikes!

    What I am trying to say in a clumsy way, is that if I was unable to work or my husband was unable to work or we were fighting some illness that was wracking up a few hundred thousand worth of medical bills, then my debt would be the LEAST of my worries. My father-in-law just had a 100,000 dollar surgery. That's after Cheamotherapy a few years ago.Now he'll do more radiation this time. He has insurance. But it doesn't pay it all. I believe that with our insurance we have a 5 million dollar lifetime maximum and we would have to pay close to 5000 per year out of pocket until the 5 million is met.

    I truly don't believe that credit cards and debt keep people from putting food on the table. Laziness does. I get up all hours of the day and night to answer the door. I don't whine about losing sleep. I stay on my feet many hours per day and I take care of kids when I'd love a day off. I do it by choice and it allows me to comfortably pay my debts and have hobbies and a really big albeit a crappy house LOL!

    Sorry...I'm rambling LOL!

    Suzi
    [quote]
    ----- Original Message -----
    From: Lucy Anderson
    To: Budget101_@yahoogroups.com
    Sent: Thursday, July 10, 2008 11:44 PM
    Subject: Re: Budget101.com : My introduction...





    That is a huge myth....

    While I don't recommend renting (except it today's market it is too crazy),
    mortgage "tax relief" is not that great versus just paying your house off.

    Have you watched the video about our nation and credit cards? I can't
    remember the name of it, but I bet someone here knows it. Very, very
    enlightening. You won't look at credit cards and loans the same way again.

    Would I be sad if credit card companies lost their jobs? Well, I view
    credit card companies with about the same regard as drug dealers. Would I
    be sad if a drug dealer lost his job? No way.

    Militant if you want..... But that's just me. I've seen way too much pain,
    suffering and needless loss from debt.

    On Thu, Jul 10, 2008 at 6:10 AM, suzilmcmullen <smcmullen@kc.rr.com> wrote:

    > If we pay rent we lose that huge tax relief called mortgage
    > interest
    > Suzi
    >
    >
    >





  5. #5
    Lucy Anderson
    Guest

    Default My introduction...

    If you don't end up able to work, then you reduce the bills.



    We were spending like that for our family of 8 and then I realized that we

    were spending $1,000 a month for food. YIKES. With a little care and

    attention, I can purchase twice that amount of food for my family for about

    half the money. I've dropped the spending to $500. We were spending maybe

    $600 a month on gasoline. Another YIKES. We get up a tad bit earlier and

    catch the bus from home to work instead of driving to the Park and Ride.

    Gas has dropped to $150 a month.



    As I tell my kids, you CAN do anything you put your mind to. When you pay a

    high car payment for the nice new car you bought, you end up paying huge

    amounts for a car that is worth nothing a few years later. Why not drive a

    more modest car for a little while, save up and pay cash for that nice car?

    You are going to make the $500 a month car payments - why not pay them to

    your savings account and not GMAC? You end up saving thousands on the car

    alone. And the peace of mind that no bank is going to take it away from you

    later.



    People seem trapped in the "entitlement" mentality and feel that they have

    to carry all this crushing debt for "normal life." And we don't. We can be

    free. We can work hard of course. And we should. And we should have peace

    after it.



    On Fri, Jul 11, 2008 at 7:13 AM, Suzi McMullen <smcmullen@kc.rr.com> wrote:



    > I bring in about 4,000-5000 per month. My bills are nearly as high.






  6. #6
    Suzi McMullen
    Guest

    Default My introduction...


    The bus is a very "green" thing to do. But it's definitely not an option for many people. We don't have any combination of busses that will get my husband to work. He couldn't even change busses many times to get there. There are many suburbs accross the nation that don't have bus services. Yeah, I wish we didn't spend so much to get my husband to work. But a person just can't blow off a good steady job so we buck it up.

    The car thing too is VERY annoying. We drove the modest cars for years. They broke down ALL the time. The loss of time on the job, trying to get them repaired, never having that money just lying around to fix them is bad enough. ADD to that how many times we find out later we were ripped off by some mechanic. We finally decided enough is enough. Our peace of mind is worth driving newer model cars. Plus, I drive daycare kids from place to place and I need to make certain I don't break down on some highway with 4-5 kids plus my own daughter. And we don't drive luxury cars by any means. But we do have one car payment and one is paid for.

    Saving money on food....I'm willing but still not convinced. Any time I try and save I end up leaning toward higher fatning food because it's cheaper. White rice, pasta, potatoes, pancakes etc... They are all huge money savers and butt wideners.

    I'd like to do the bulk buying. But first I'd have to buy a freezer and find a place to put it all. Our cupboards are always overflowing as is. I feed a family of 5 plus another 4-5 kids at every meal. I can't/won't skimp on what I feed the daycare kids because too many providers do. They get fresh fruits and veggies, only whole juices without sugar added and watered down to further reduce the sugar, becauseeven natural sugar isn't great. They get generous portions so that I can teach them to eat their veggies. Their parents usually will just give in and give them Micky D's. It takes time and money to teach these kids to have a wider and healthier pallet. We probably do manage to feed the family and the daycare on around 1200 per month. That's around 5 people, some drinking formula, whole milk etc. I wish I could go buy a cow! LOL.

    Suzi
    [quote]
    ----- Original Message -----
    From: Lucy Anderson
    To: Budget101_@yahoogroups.com
    Sent: Friday, July 11, 2008 11:57 AM
    Subject: Re: Budget101.com : My introduction...





    If you don't end up able to work, then you reduce the bills.

    We were spending like that for our family of 8 and then I realized that we
    were spending $1,000 a month for food. YIKES. With a little care and
    attention, I can purchase twice that amount of food for my family for about
    half the money. I've dropped the spending to $500. We were spending maybe
    $600 a month on gasoline. Another YIKES. We get up a tad bit earlier and
    catch the bus from home to work instead of driving to the Park and Ride.
    Gas has dropped to $150 a month.

    As I tell my kids, you CAN do anything you put your mind to. When you pay a
    high car payment for the nice new car you bought, you end up paying huge
    amounts for a car that is worth nothing a few years later. Why not drive a
    more modest car for a little while, save up and pay cash for that nice car?
    You are going to make the $500 a month car payments - why not pay them to
    your savings account and not GMAC? You end up saving thousands on the car
    alone. And the peace of mind that no bank is going to take it away from you
    later.

    People seem trapped in the "entitlement" mentality and feel that they have
    to carry all this crushing debt for "normal life." And we don't. We can be
    free. We can work hard of course. And we should. And we should have peace
    after it.

    On Fri, Jul 11, 2008 at 7:13 AM, Suzi McMullen <smcmullen@kc.rr.com> wrote:

    > I bring in about 4,000-5000 per month. My bills are nearly as high.




  7. #7
    Elizabeth Farnsworth
    Guest

    Default My introduction...




    <TD id="INCREDITEXTREGION" dir="ltr" style="FONT-SIZE: 12pt;DIRECTION: ltr;" vAlign="top" width="100%">
    Join your local freecycle or another keep it out of the landfill type group and
    start looking for a freezer. Things like this are given away all the time, also check your local area
    on craigslist.com for free items, you may just get that freezer!
    We just got two great chairs "free" and as we were sitting in our new chairs looking around our newly empty (the kids finally moved out) room I told hubbie
    you know.....we could furnish this and get everything we need from freecycle so we're going to see how the room develops over time.





    <DIV id="INCREDISIGNATUREID">
    <DIV style="FONT-FAMILY: Times New Roman;">
    <FONT face="Garamond" size="3">Elizabeth Farnsworth
    <FONT face="Garamond" size="3">Shaklee Independent Health & Wellness Distributor
    -------Original Message-------


    From: Suzi McMullen
    Date: 7/12/2008 4:15:50 AM
    To: Budget101_@yahoogroups.com
    Subject: Re: Budget101.com : My introduction...







    I'd like to do the bulk buying. But first I'd have to buy a freezer and find a place to put it all. Our cupboards are always overflowing as is. I feed a family of 5 plus another 4-5 kids at every meal. I can't/won't skimp on what I feed the daycare kids because too many providers do. They get fresh fruits and veggies, only whole juices without sugar added and watered down to further reduce the sugar, becauseeven natural sugar isn't great. They get generous portions so that I can teach them to eat their veggies. Their parents usually will just give in and give them Micky D's. It takes time and money to teach these kids to have a wider and healthier pallet. We probably do manage to feed the family and the daycare on around 1200 per month. That's around 5 people, some drinking formula, whole milk etc. I wish I could go buy a cow! LOL.

    Suzi

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










    </TD>
    <TD id="INCREDIANIM" vAlign="bottom" align="middle">


  8. #8
    C A James
    Guest

    Default My introduction...

    My introduction - 60 yrs old, downsized and getting help/employment from AARP SCSEP (18 hrs at $7) and taking $ out of retirement. The last job I had paid $14 hr - medical billing. i clung to that job for over a year under new management that was hostile to put it mildly. Part of why it is harder for me to find a job is that I could not work in an industry that exploits customers. Medical billing for a non-profit was an education in how callous and greedy health care has become. i did burn out during that time and could not go back to that type of work.

    What prompted me to this introduction is Suzi's comment; I truly don't believe that credit cards and debt keep people from
    putting food on the table. Laziness does.


    I've recently gotten the dvd 'Maxed Out' from the library which could be what Lucy was referring to. it is not flattering to the credit card industry or the credit collection companies that are also flourishing - definitely an eye opener. i suggest those of you who see credit card cos and banks as innocents just trying to make a buck get the movie. it was stated that the credit card cos revenue comes from the poor who get in trouble where they can exponentiate fees. Can you say loan shark!

    The poor are a convenient target for blame - they got themselves into that mess!! My take on it, now that I am one of them, is that we had a lot of help in getting there. But according to Phil Graham I'm suffering from 'mental recession', hmmmmm!! Will big pharma invent a pill for that? hope it doesn't exceed my credit card limit!

    Carol





 

 
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