How I got out of $26,000 of debt before getting married?

Debt steals your freedom

noreply@blogger.com (Admin) — Wed, 09 May 2012 21:45:00 +0000

When I was in debt I didn't have freedom. I was stuck. I didn't have the luxury of choice. Instead I was fearful that I would lose my job and afraid that I wouldn't be able to pay off my debt.

My debt took away my freedom.

How do you get freedom? Getting and staying out of debt. Getting out if debt is a process that takes time and determination. But in the end you get the reward of freedom. Freedom is the best reward.

Safety in a job

noreply@blogger.com (Admin) — Mon, 07 May 2012 17:00:00 +0000

This is the truth I am realizing lately:

There is neither safety or security in a job.

I have been employed full-time for the past 8 years. In that time I have acquired many great skills. However, all my skills and education do not make me safe from downsizing. While I was in debt and getting myself into debt I took my employment for granted. I am embarrassed to admit this now. It is embarrassing because it shows my ungratefulness to my self and my employer at the time. I wish I could go back and tell my 20 year old self to not buy an expensive car, to not live in an expensive apartment, live within a budget, and never take my time or job for granted.

Affordability

noreply@blogger.com (Admin) — Sun, 06 May 2012 22:27:00 +0000

If you have to think about affordability then you probably can't afford it.

Whenever I question a purchase or it bothers me for awhile it usually means I can't afford the purchase. This happened a lot while I was in debt.

It is important to know what you can and cannot afford.

More Money

noreply@blogger.com (Admin) — Sun, 06 May 2012 21:35:00 +0000

I came across this statement recently:

You can't solve poor financial management with more money.

Essentially, this statement is saying that if you can't manage $20,000 well you will not be able to manage $500,000 well either. More money is nice but it doesn't solve the underlying issue of poor money skills.

Poor money skills = poorness

I have really seen this in my own life. I always think more money will solve all my problems. But as I continue to earn more I have realized it doesn't because what needs fixing is in my mind. My emotions and thoughts have held me back and created my dysfunctional relationship with money through the years. I am just now starting to realize how complicated my relationship with money is. It rules my life. Even though I am out of debt I still struggle internally with wanting more and never being truly satisfied and wanting to just spend, spend, spend on my credit card.

I am writing today to let you know that more money is wonderful but it isn't the answer to my money insecurities within myself. I am now on a journey of understanding so I can be at peace with money and my financial resources.

I will keep posting about this journey over the next couple of weeks...

5 Lesson Learned in this Economy

noreply@blogger.com (Admin) — Sun, 01 Apr 2012 19:43:00 +0000

The reality of this economy right now is that it is tough to find a job. I really didn't understand the situation personally until I attempted to find a new job last month. I couldn't find one. I wasn't getting interviews and I wasn't even able to get in contact with anyone from the companies that I was interested in. I got scared. I started to count my blessings and started to appreciate and love my current job even more. I realized that I had taken my current job and wages for granted. I was so incredibly LUCKY that I had employment the entire time I was digging myself out of debt. I think it took a terrible job market and having a baby to make me appreciate all of my blessings and learn some life long lessons in the process.

1. There is no good or bad debt in my opinion. There is just DEBT. If you don't have a job or can't find another job no amount of debt is good debt, it is just debt and it needs to be paid off.

2. Don't take your job for granted EVER! Even if your job totally sucks it is still a job and you are still getting paid some amount of money for the work you are doing. It is better to get some money than have nothing coming in.

3. Have an EMERGENCY fund. I depleted my emergency fund so quickly and dipped into savings while I was on my maternity leave.

4. Life is precious and not all about money. Money is just money and your life experiences are so much more important than money. Money can be lost and gained very quickly and doesn't need to rule a person's life.

5. Make conscience decisions. I am going to always ask myself more questions before I make choices that impact my money and family.

I have a baby now and I have more responsibility. I have been blessed with so much in my life and this blog is my way of giving back.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

New Baby and Finances

noreply@blogger.com (Admin) — Sun, 05 Feb 2012 08:36:00 +0000

I had my baby! I thank God everyday for this blessing. Life is truly a miracle.

I am currently on maternity leave and paying extra close attention to my finances. I am on a restricted budget because I am getting 50% of my pay while on maternity leave. Actually, it has been nice learning to live on less. I think this experience will change my financial life forever. I have realized that I don't "need" that much to live. I have replaced my weekly Starbucks with diapers instead. Diapers are a necessity and Starbucks is not. Therefore, I haven't noticed a huge increase child related spending.

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I have also started to create a 30 day wish/waiting list journal. This wish list is meant to delay my gratification. If I still want something on the list after 30 days I will purchase it if it is within my budget. For instance, I was looking at shirts at Banana Republic and I just loved a particular shirt. So, I added this shirt to my wish list. After 30 days and rewarding myself for keeping an area of my house clean for an entire month I purchased the shirt. I love the shirt even more now because I waited for it and paid cash for it.

Best wishes,
Janie

You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

My Favorite Coupon Sites!

noreply@blogger.com (Admin) — Sat, 22 Oct 2011 00:48:00 +0000

Today, I am participating in "Show Us Your Life" over at Kelly's Korner.

I recommend the following sites:

1. The Krazy Coupon Lady- I go to this site each week to plan out what I am going to buy. This site is a must before I go shopping at CVS, Walgreens, ShopRite, or Safeway. I love how this site is organized!

2. Coupon Divas- I love her videos about couponing. She is so fun and her videos are great if you are just starting out with couponing.

Here is a link to her videos: http://coupondivas.com/videos.html.

3. For the mommas- I just discovered this site but I am going to use it as another shopping trip planning site.

A few tips I have learned a long the way-

First, couponing is all about organization. You need have an organization system that works for you so that you can easily find your coupons. Secondly, like anything you get out of it what you put into it. If you spend the time to clip, organize, and stragetize your shopping trips you will be sucessful. Lastly, I treat coupons like CASH. I love that I save so much money with coupons and it is a fun challenge for me each week to see how much I can save.

Happy Couponing!

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

How I told my husband we were pregnant?

noreply@blogger.com (Admin) — Sat, 16 Jul 2011 18:18:00 +0000

Hi,

I just wanted to share with you "how I told my husband we were pregnant after going through IVF?" Please go here to read my surprise.

How are the coupons coming along?

I am posting to Kelly's Korner SUYL series.

Best wishes,
Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Coupons equal cash

noreply@blogger.com (Admin) — Wed, 15 Jun 2011 13:28:00 +0000

I am treating my coupon learning the same way I treated getting out of debt.

1. I recognized I had an issue
2. Took inventory of my weaknesses
3. Got organized
4. Educated myself about the topic in 2004 that was debt and money in 2011 it is saving money with coupons

This quote is sticking with me:

More money isn't the answer. Saving money is. Getting more for less is a matter of changing how you think.

My Coupons notes follow to help you learn along with me...

1. Treat coupons like cash

2. Look in stores for peelies, tear offs, in store coupon books down the aisles

3. Set aside several hours a week to collect coupons, scan circulars, and hit the stores

Make a point of becoming aware of the promotional materials around you and start your own savings stash

You need to make a plan

Set s goal- save 20% this month off your grocery bill and 30% the next month and so on,,,

Filing your coupons system-
Make folders for Sundays for example the labels would look like this:
3/14 RP
3/14 SS
3/14 PG

Search coupon databases for existing coupons you have filed away

Devote 5 hours each week on coupons and shopping

Try paying for purchases in cash

Pick your stores that you will shop at weekly- CVS, Safeway, Target

Store to make money at Rite Aid (need to get up reward card)

More money isn't the answer. Saving money is. Getting more for less is a matter of changing how you think.

Essentials:

Oral care
$ toothpaste
$ dental floss
$ toothbrushes (adult/kids)
$ oral teething soothing cream (baby)
$ before brushing rinse

Best wishes,JanieP.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

When the reality of debt sets in...

noreply@blogger.com (Admin) — Tue, 07 Jun 2011 08:55:00 +0000

I found a great blog post about when the reality of your debt sinks in if you are a young person of 28 years of age. They realize that they took out too much debt and can't pay it off as quickly as anticipated. My realization of my load was prior to 28, however, I remember that realization so well. I still remember where I was driving on the beltway and the time. It was a terrible feeling to just realize that it would take me 5 years to pay off my debt. Actually, it was truly shocking.

Here is more of that blog post if you want to go over and read it: http://blogs.smartmoney.com/paydirt/2011/06/06/for-debt-laden-young-adults-reality-bites-at-28/?mod=rss_&link=SM_home_blogsum

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

The Krazy Coupon Lady

noreply@blogger.com (Admin) — Tue, 31 May 2011 00:31:00 +0000

I am now 10 weeks pregnant! Plus I just found out that daycare is $2,000 a month for infant care. I would really love to stay at home so I am doing some serious research about coupons. I found The Krazy Coupon Lady.

I love this site because you can learn about coupons, organization, and they help you find the best deals for that week.

Please go check out: http://thekrazycouponlady.com/

I think you will like it.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Saving is healing

noreply@blogger.com (Admin) — Fri, 01 Apr 2011 08:54:00 +0000

I have been consumed with the entire IVF process as of late. However, I did read recently that "saving is healing" and I loved this passage. I know personally that saving money does make me feel good. Even if it is $5 a day into my bank account it feels so good to do that. I feel like I am doing something good for myself. Therefore, if you can try to put $5 into your savings account today. You will feel better. Saving is healing is my moto today. Best wishes, Janie P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Have you ever heard of Cash Flow?

noreply@blogger.com (Admin) — Wed, 02 Mar 2011 01:34:00 +0000

Are you familiar with the cash flow concept? If you took an accounting class or read a finance book in school you probably have come across this concept before now. If you don't know what cash flow is I will trying to explain now. Cash flow is the amount of cash that is coming in and going out. Basically, it is a way to watch the flow of your money. How much money are you making and spending? While watching my spending over the past few months, for my coupon project, I have thought of a new concept called stuff flow.

Stuff flow is the stuff that flows in and out of my life and house. I have realized that stuff flow is a big problem for me. I don't have a process in place to deal with my stuff. My stuff is costing me big in both time and money.

This month I am going to do some soul searching about my stuff. What purpose is my stuff serving in my life? Why do I have so much of it? How can I eliminate my stuff?

This stuff is dragging me down and causing stress.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Financial Journal

noreply@blogger.com (Admin) — Mon, 14 Feb 2011 02:27:00 +0000

The rules of money are probably Ben Franklin-type rules, such as never squander it, don't be a spendthrift, be very careful, you have to account for what you're doing, you must keep track of it, and you can never ignore what happens to money.

- Michael Phillips, The Seven Laws of Money

So, for IVF last week I went to a nutritionist to discover some of my bad eating habits that I have to change for pregnancy. She had me keep a journal of the time I eat, what I eat at that time, and how I am feeling just before eating. This journal was illuminating for me. I tend to eat really bad around 3 pm each day because I am either tired or stressed from work. She asked me to eat my veggies and fruit servings for the day in either breakfast or lunch because after 3 pm begins my poor food choices.

After doing this activity for the nutritionist, I was thinking that I should also do this for my financial life. I will keep track of where my money is going and avoid impulse spending (especially around 3 pm at the vending machine or work cafe on bad food choices) for the next two weeks. At the end of the two week period, I will review my financial journal and see where I have been impulsive with my spending.

Do you want to join me with the financial journal activity?

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Earnings Timeline

noreply@blogger.com (Admin) — Sat, 12 Feb 2011 10:57:00 +0000

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I am going to expand on my Financial Timeline series here. This post will be about my Earnings Timeline and Net Worth to date.

So, I got my Social Security Statement in the mail this week and I always check it against my earnings for the year to check for accuracy. I believe that everyone should do this as part of getting your financial house in order.

Look at the three columns on your statement when you are checking for accuracy-

1. Years You Worked 2. Your Taxed Social Security Earnings 3. Your Taxed Medicare Earnings

Here are my taxable earnings since 1995 (I rounded numbers for privacy reasons):

1995 - $1,500

1996- $3,000

1997 - $2,000

1998 - $2,000

1999 - $700

2000 - $2,000

2001 - $200

2002 - $400

2003 - $10,000

2004 - $35,000

2005 - $45,000

2006 - $54,000

2007 - $64,000

2008 - $81,000

2009 - $86,000

Over a 15-year period I earned $386,800 of taxable income. But once taxes are taken out I probably brought home $193,400 during that same 15- year period.

I calculated my January net worth to be $90,579.44. Therefore, from my earnings I "spent" $100,000 dollars during that 15-year period. Honestly, I don't know where that $100,000 dollars went. I know $26,000 plus interest payments went to the credit card companies. I had a wedding, went on a honeymoon, purchased a car during that time period too. This was an eye-opening experience for me. It has made me want to pay more attention to my spending especially what is coming in and going out (cash flow).

Was this post helpful?

I do have a word of caution about this post. I live in an expense place in this country so please don't compare your earnings to mine. I do have a college education and I am a tough negotiator which has increased my earnings. If you are interested in my negotiating skills please leave a message below. I will be happy to devote a blog post to negotiating skills in a job and in life.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

My Financial Life Timeline

noreply@blogger.com (Admin) — Sun, 06 Feb 2011 17:39:00 +0000

Have you made a timeline of your financial life before? If you said no, you are not alone because I haven't either until now.

Here is my financial timeline by years-

1980 - 2003 Mooch off parents, had some side jobs made a total of $10,000 during those years

2003 - 2004 Moved out on my own, made $15.00 an hour and started getting into debt up to my eye balls

2004 - 2008 My salary continued to increase and I realized I had to get out of debt

2008 - now Debt free and trying to start a family through IVF

I think I will do a more detailed timeline next. I may even do a timeline for other areas of my life too. I think it brings clarity to your daily life- looking at the big picture. I should probably do one for saving and spending next.

What does your financial timeline look like? If you would like to leave a comment I would love to hear what your timeline is like. Is it like mine?

Best wishes,

Janie

Coupon Book

noreply@blogger.com (Admin) — Fri, 04 Feb 2011 10:29:00 +0000

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You all know how I have become the coupon queen as of late. Then I happened to find this great idea for a coupon book. I am still in the process of figuring out my coupons but this is awesome inspiration.

Go over and check it out.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

A Getting Out of Debt Story Of Inspiration

noreply@blogger.com (Admin) — Thu, 03 Feb 2011 10:06:00 +0000

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You may or may not know this about me but I love to decorate my house. Decorating my house is a hobby for me and I love to do it inexpensively as well. I look all over the Internet for inspiration and new ideas. Then one day I found the Thrifty Decor Chick. I have been reading this blog for about 2 years now.

My heart was so full yesterday when I read this blog post about her and having NO MORE DEBT. Please go over and read this story. She had a lot more debt than I have ever had and now she is out of it. All gone! It is such a story of inspiration and I am so excited that another person has joined the debt free club.

I think it is a wonderful story and I just had to share.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Coupons

noreply@blogger.com (Admin) — Fri, 14 Jan 2011 09:37:00 +0000

It has been a few months since I started using coupons. I can tell a difference. I have even started a coupon club with my girlfriends. We clip out coupons and send them to each other each week. My favorite places to save money are CVS with the extra care bucks, Giant they double coupons, and Target overall prices are cheaper.

Our grocery bill was about $150 a week on average and now it is around $50 to $65 a week. I would recommend coupons if you are serious about saving money on groceries. However, the process and getting started can be time consuming. I probably spend 5 to 6 hours each week on this coupon project. I think it will become easier as the months go on.

Here is my to do list:

1. Binder to organize coupons

2. Clip coupons every Saturday morning from newspaper

3. Organize clipped coupons into binder

4. Make price list- go to all of the stores that you shop at and write down the prices of the items that you purchase most often and associating prices

For instance, we could purchase Bumble Bee Tuna at CVS for 1.99 at Giant for 1.69 and Safeway for 1.99. So it is best to purchase from Giant or on sale at CVS for 66 cents when it goes that low.

I hope these tips are helping you. Best of luck. I will be back with more tips.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Coupons

noreply@blogger.com (Admin) — Sun, 28 Nov 2010 16:20:00 +0000

I am saving massive amounts of money with coupons lately. My new mission for 2011 is to teach everyone who reads my blog about the mysteries of saving money with coupons. It really is like free money if you know how to play the game and are willing to devote some time to searching for coupons.

My personal journey starting in 2004:

1. Get out of debt
2. Learn about money
3. Start a family (in the process of IVF)
4. Learn about saving money with coupons

I can't wait to share all of my new found knowledge with you.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Free Stuff at Vista Print

noreply@blogger.com (Admin) — Tue, 09 Nov 2010 15:50:00 +0000

I am in the process of shopping for Christmas gifts for my family and I wanted to share with you a secret of mine. I do a lot of my shopping at Vista Print and I get the free stuff. So, I only pay for shipping. I would recommend checking it out here.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

America's Cheapest Family

noreply@blogger.com (Admin) — Sun, 03 Oct 2010 11:09:00 +0000

I wanted to introduce you to America's Cheapest Family. My husband showed me a clip from the Today Show last week about this family. Now, that I am doing a lot of family planning and looking at our grocery bill I am hooked on America's Cheapest Family. I would recommend checking out the website here.

Also, if you want to get updates about my IVF journey you can go here.

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

I am alive...

noreply@blogger.com (Admin) — Thu, 16 Sep 2010 22:35:00 +0000

You are all so sweet. I have some of the best blog readers around. Thank you so much for all of your thoughts and prayers. Doing IVF has taken a lot out of me. I haven't really been focusing on finances at all. However, I have been watching our monthly food bill. I just had a conversation with a girlfriend and she said that her biggest expense is food. We spend $700+ on food a month. My girlfriend spends $1200 a month for a family of 4. SHE couldn't believe that she spent that much. I would make sure to check those sneaky expenses. We all have to eat but maybe our choices aren't good for our wallets or our waist lines.

Food for thought...

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Five Cent Nickel

noreply@blogger.com (Admin) — Sun, 18 Jul 2010 13:44:00 +0000

I stumbled across this blog and thought it was a good resource: www.fivecentnickel.com. I hope you enjoy it too!

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.

Thinking Your Way to Wealth

noreply@blogger.com (Admin) — Mon, 05 Jul 2010 23:43:00 +0000

I was reading an article in a magazine about lessons you can learn from America's millionaires. The lessons are:

They think long term
They're not afraid to take chances
They live below their means
They save
They invest wisely
They're "tax-smart"

I think this is a good list. What do you think?

Best wishes,

Janie

P.S. You have come to the right place if you are looking for information about getting out of credit card debt, paying off credit card debt, money tips, or for a friendly place if you are struggling with getting out of debt.