tag:blogger.com,1999:blog-41997329169318287662024-02-20T13:03:40.076-05:00Not a Dime to my NameI am 30 and don't have a dime to my name. This purpose of this blog is to keep track of my progress as I try to turn my financial life around.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.comBlogger77125tag:blogger.com,1999:blog-4199732916931828766.post-60439968349976504052010-11-05T18:19:00.001-04:002010-11-05T18:19:31.596-04:00I Hate My Car Part 2My car is back at the dealership and after numerous test drives the car has not cut off on the tech and they have no idea what is wrong with it. I think they think I am a con artist trying to pull a scam, when all I am is an angry b@*%h pissed that I spent $813 on an unneeded repair. Since I do a lot of driving I need a reliable car, I think it is time to retire my beloved car.<br /><br />I have my options narrowed down to 3 contenders<br /><br />1. <a href="http://www.nissanusa.com/versa/#/photos/colors/">Nissan Versa</a> - $14,245<br />2. <a href="http://automobiles.honda.com/fit/exterior-photos.aspx">Honda Fit</a> - $15,830<br />3. <a href="http://www.toyota.com/sem/yaris.html">Toyota Yaris</a> - $15,887<br /><br />I was approved for a loan but my loan offer expires on Sunday. My mother thinks I should wait 3 months and buy in December.<br /><br />Does anyone have any input on any of these cars?Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com3tag:blogger.com,1999:blog-4199732916931828766.post-90311536327960968452010-11-05T18:18:00.001-04:002010-11-05T18:18:59.651-04:00I Hate My CarNumber 34 on my list of 35 before 35 was to buy a new car, this was something I was hoping to put off until I was 35. Unfortunately after $1500 of repairs the car is still cutting off at long stops. The car has been in and out of the shop for the past 3 weeks and no one can seem to find the problem and the car does not stall when they test drive it. I even drove it around with a mechanic from the shop and the car did not cut off once.<br /><br />I don't know what to do anymore.<br /><br />If the car can't be fixed (once they figure out what is wrong with it) I just flushed $1500 down the drain.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-49309019136288384872010-10-17T17:34:00.000-04:002010-10-17T17:35:27.614-04:00726 Isn't what It Used To BeI am sad to say that my car is back in the shop again and this time it may cost me all of my savings ($2000 down the drain). I started toying with the idea of buying a new car and decided to pull my credit score. Much to my delight my credit score has risen by 26 points to an all time high of ........<br /><br /><div style="text-align: center;"><span style="font-size: 180%;"><span style="color: rgb(255, 0, 0);">726</span></span><br /><span style="font-size: 180%;"><span style="color: rgb(255, 0, 0);"></span></span></div><span style="font-size: 180%;"><span style="color: rgb(255, 0, 0);"><br /><br /></span></span><div style="text-align: left;"><span style="font-size: 100%;"><span style="color: rgb(0, 0, 0);">I was so excited that I decided to try and consolidate my student loan at a lower interest rate. Well, the student loan market isn't what it used to be, I could only find on company that was doing consolidations and they want a cosigner.<br /><br />Then I decided to try to pre-qualify for a car loan, I am still waiting for a response.<br /><br />I guess in today's credit environment a score of 726 isn't what it used to be.<br /><br />MyFico.com has a credit score simulator, you input certain scenarios and it tells you how it will effect your credit score. According to the simulator if I make 3 payments of $800 over the next 3 months my score will improve to the 731 - 771 range.<br /><br />Time to rework my budget.<br /></span></span></div><span style="font-size: 180%;"><span style="color: rgb(255, 0, 0);"></span></span><span style="font-size: 180%;"><span style="color: rgb(0, 0, 0);"></span><span style="color: rgb(255, 0, 0);"></span></span>Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-58871505634447589362010-07-10T20:46:00.002-04:002010-07-10T20:55:36.103-04:00New BlogI know a while back I said I was going to focus all of my energy into moving to New York, but after doing some research into the future of Visual Merchandising I have decided to go back to school and change my career. I feel that I have wasted the last eight years of my life in retail chasing after an impossible dream. After a while you have to give up and move on.<br /><br />My new blog chronicles my journey to my new future.<br /><br />I will be posting about<br /><br />School<br />Finance<br />Health<br />and a few other things.<br /><br />I will be copying any financial post I write to this blog, but I will not be posting that often.<br /><br />For anyone who wants to follow me on my new journey, this is where I'll be.<br /><br /><a href="http://alliestartsover.blogspot.com/">alliestartsover.blogspot.com</a>Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-74417381173307745472010-07-10T20:45:00.001-04:002010-07-10T20:45:37.490-04:00New BudgetCurrent Budget<br /><br />Income - $2000 per month<br /><br />Sallie Mae - $600<br />Electric - $200 (estimate, most of the time it is less)<br />Cell Phone - $70<br />Phone/Cable/Internet - $170<br />Credit Card 1 - $90<br />Credit Card 2 - $140<br />Credit Card 3 - $250<br />Gas/Groceries - $200<br />Student Loan 2 - $200<br />Savings - $80<br /><br />When I start classes the $200 I am paying to my second student loan and the $80 I am saving will be going toward tuition.<br /><br />Possible Future Budget<br /><br />Income - $1440 per month ($12 per hour)<br /><br />Sallie Mae - $600<br />Electric - $0 (my mother will have to take over this bill)<br />Cell Phone - $70<br />Phone/Cable/Internet - $100 (my mother will have to take over the phone part of this bill)<br />Credit Card 1 - $30<br />Credit Card 2 - $140<br />Credit Card 3 - $150<br />Gas/Groceries - $100<br />Student Loan 2 - $200<br />Savings - $10<br /><br />When I start classes the $200 I am paying to my second student loan and the $10 I am saving will be going toward tuition.<br /><br /><br />Or....<br /><br />Income - $1760 per month ($14 per hour)<br /><br />Sallie Mae - $600<br />Electric - $140<br />Cell Phone - $70<br />Phone/Cable/Internet - $170<br />Credit Card 1 - $90<br />Credit Card 2 - $140<br />Credit Card 3 - $250<br />Gas/Groceries - $100<br /> Student Loan 2 - $200<br />Savings - $80<br /><br />When I start classes the $200 I am paying to my second student loan and the $80 I am saving will be going toward tuition.<br /><br />Until the final word comes down (or I get a new job) I am living week to week.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-4913470101002435942010-07-10T20:44:00.001-04:002010-07-10T20:44:37.813-04:00Minimum Payment WarningsYou gotta love the minimum payment warnings that credit cards come with, they are helping me plan my assault on the credit card demon that possesses me.<br /><br />Awhile back I paid off my Master Card, since then I charged it back up and was carrying a balance on the store charge card I got for work. I am glad to say that I just paid off my Master Card for the LAST TIME, I am taking it out of my wallet and giving it to my mother to hold.<br /><br />Next on my hit list is my American Express with the ridiculously high interest rate (29.99%). According to the MPW if I pay $126 per month I can have the card paid off in 3 years. That is to long for me, I want to have this card paid off in 1 year. That is going to be hard on a $1400 a month budget (remember, I have a pay cut coming any day now.) I am going to try to up my payment to $250 a month and throw any extra money I get at this card.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-88243267274710150002010-05-02T12:02:00.000-04:002010-05-02T12:03:28.406-04:00Project New YorkMy main focus right now is to find a job and move to New York.<br /><br />Being the list maker that I am I have a list to help keep me focused.<br /><br />I. Improve Resume & Cover Letter<br /> <br />II. Create an On-Line Portfolio<br /><br />III. Sign Up With Every Online Job Board I Can Find<br /><br />IV. Find And Work Contacts From Linkedin<br /><br />V. Save Money & Pay Off Credit Card Debt. <br /><br />Wish me luck.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com4tag:blogger.com,1999:blog-4199732916931828766.post-2969659091602201822010-05-02T11:56:00.001-04:002010-05-02T12:02:45.413-04:00New Goal - Project New YorkAbout 5 months ago I got a new job, I got the job so easily that for a long time I was suspicious and waiting for the other shoe to drop.<br /><br />Well, it dropped.<br /><br />They changed my position to an entry level position and within a year I need to be willing to advance to a managerial position or I will have to quit. On paper it seams like a great opportunity but I do not want to be a retail manager, I want to advance my career in visual merchandising.<br /><br />I have decided to start looking for a new job and I am focusing my search to New York. It seems like all of the best opportunities are in New York, not just for visual merchandising but in other areas that I am interested in (buying, styling, etc.).<br /><br />So, now the question is ........<br /><br />How do I make this happen?Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-44670170600811015022010-03-17T21:14:00.002-04:002010-03-17T21:15:21.405-04:00700!!!!!!!!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCvsRtnVE70tYyJj9BEeSHFcshw6zwEmhEje11ka1erSMMrvuBePyheFT94sAKlC8a_Qu5oJ1lDT5xcstkcvy1V1wgMN5GVCuhXaeUXi4lSPwELzRyGIQSyF3_Ebjg7ZzYMOATM8z-6aVD/s1600-h/credit+score.gif"><img style="display: block; margin: 0px auto 10px; text-align: center; cursor: pointer; width: 320px; height: 207px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCvsRtnVE70tYyJj9BEeSHFcshw6zwEmhEje11ka1erSMMrvuBePyheFT94sAKlC8a_Qu5oJ1lDT5xcstkcvy1V1wgMN5GVCuhXaeUXi4lSPwELzRyGIQSyF3_Ebjg7ZzYMOATM8z-6aVD/s320/credit+score.gif" alt="" id="BLOGGER_PHOTO_ID_5449776227783785922" border="0" /></a><br />I found out today that my credit score is <span style="font-weight: bold; color: rgb(255, 0, 0);">700</span>.<br /><br />That may not mean much to some of you, but if you knew my credit history you would be as amazed as I am.<br /><br />It all started when my sister and I were driving in my HOT CAR (the air conditioner is blowing VERY HOT AIR) when she asked me if I really want to pay to fix it. I am not going to lie, after the last problem I had with my car I seriously considered buying a new car, but I figured with my credit history I did not think I would be able to. This conversation put a bug in my head to see what my credit score is, the last time I checked it was 619. I was not hopeful because I am sitting on almost $100,000 of student loan debt plus $10,000 of credit card debt. I logged on to Myfico.com, paid the $15.95, and almost had a heart attack. You could have knocked me over with a feather.<br /><br />Being able to see the progress I have made with improving my credit score has given me the resolve to continue to pay off my credit cards. I am more determined now than ever before.<br /><br />Lessons To Be Learned<br /><br />1. PAY YOUR CREDIT CARDS ON TIME, EVERY TIME, NO EXCEPTIONS.<br />I still have a ways to go in getting myself out of debt, but I pay my bills early if not on time every month. It obviously makes a world of difference.<br /><br />2. STUDENT LOANS DO NOT HURT YOU AS MUCH AS YOU THINK.<br />I thought with the amount of student loan debt that I have I would never be able to have a decent credit score. But I do, and so can you.<br /><br />3.BUT PAY THEM ON TIME.<br />I pay my student loans on time every month with out fail. When I had some financial problems I deferred the payments until I was able to get back on my feet. Do what you have to do to keep up with the payments.<br /><br />4. DON'T GIVE UP.<br />I have had plenty of slip ups but I haven't given up, as long as you are alive you can improve.<br /><br />I haven't felt this good in a long time.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-52115191601710766192010-02-28T16:58:00.002-05:002010-02-28T17:01:17.688-05:00Tax Season<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiY2lreFyK3GZRhk3RzLksnlfXWATtaJ3Xgc3I2hPKMWlvl06KxLfI7wDWY9NbNwWWGGTkLGpK27YTiyx8K7IKJ_46xGnf3wnWUyzeuQa9516IAdDU3AUtNCRhPvAJ59qFlkr1neZn7EB6z/s1600-h/filing+tax.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 274px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiY2lreFyK3GZRhk3RzLksnlfXWATtaJ3Xgc3I2hPKMWlvl06KxLfI7wDWY9NbNwWWGGTkLGpK27YTiyx8K7IKJ_46xGnf3wnWUyzeuQa9516IAdDU3AUtNCRhPvAJ59qFlkr1neZn7EB6z/s320/filing+tax.jpg" alt="" id="BLOGGER_PHOTO_ID_5443417606560344994" border="0" /></a><br />Either you hate it or you love it.<br /><br />Tax Season.<br /><br />If you are someone who makes a lot of money and has to pay Uncle Sam you hate this time of year. If you are poor or middle class and get refunds then you love this time of year.<br /><br />I am getting a refund of $800 from the government, $400 for my savings and $400 to pay for car repairs.<br /><br />I know some people feel that it is bad to get a refund because it means that you are lending the government money interest free. My feelings are, I would rather lend the money then have to scrounge around to find money to send them come tax time.<br /><br />Financially I have not been doing that great lately, I haven't been saving lately like I should. I have been purchasing things with my employee discount and using my extra money to pay off the balance. I think I finally am off the whole shopping thing and am ready to resume saving and paying off debt. To help keep me accountable I am going to start posting my monthly budget on the blog.<br /><br />I need you guys to keep me honest.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-63450526497234850282010-02-01T18:07:00.003-05:002010-02-01T18:18:21.281-05:00I Must Be ImprovingCiti Card (who own 3 of my 4 credit cards) has lowered the interest on two of my accounts and raised the limit on the third. The cards are still in storage and are not being used so this should really help my credit score.<br /><br />My electric bill was $90 higher than expected this month, so I will be unable to add to my savings until I get my tax refund. That kind of bums me out, now that I am on a roll with debt repayment and saving I am starting to enjoy it.<br /><br />Perhaps a little too much. Now I hate spending money, even on needed things.<br /><br />Just call me Ebenezer Scrooge<em>.</em><br /><br /><br /><br /><em></em><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxwSR0yNvsyx5zPrB21eUiFAwH-yFveTfUW-EHZOgSIbwb__PiRSmjU08r4jE1tsq7SjZFphjgJGR2-dj__r-FZEUxyEaCXaH-m5IYqtC9gCnLOjFW0GodYzzwCKtUqK-fFbXHioxUUhhd/s1600-h/1951-xmas-humbug-scrooge.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 240px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxwSR0yNvsyx5zPrB21eUiFAwH-yFveTfUW-EHZOgSIbwb__PiRSmjU08r4jE1tsq7SjZFphjgJGR2-dj__r-FZEUxyEaCXaH-m5IYqtC9gCnLOjFW0GodYzzwCKtUqK-fFbXHioxUUhhd/s320/1951-xmas-humbug-scrooge.jpg" alt="" id="BLOGGER_PHOTO_ID_5433417955112696530" border="0" /></a>Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-88343075603839206172010-01-21T20:17:00.002-05:002010-01-21T20:28:24.927-05:001 Down, 3 To Go (Redo)I'm sorry I've been MIA, I am working fervently on my online courses so that I can complete them on time and not have to pay for an extension. But ......<br /><br />As of 30 minutes ago my Master Card has been paid off!!!!!!!!!<br /><br />1 credit card down, 3 to go. I feel so light and free.<br /><br />Next on my agenda is my American Express. I hope to have it paid off within 6 months.<br /><br />Also, my savings account is up to $500, that is a lot for me. I am still dropping water in the bucket.<br /><br />Wish me luck.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-11127359823599949122010-01-11T22:28:00.002-05:002010-01-11T22:41:21.345-05:00How Many Accounts Do You NeedWe all know that you need an Emergency account for emergencies.<br />We also know that you need a Savings account for sort or long term goals.<br />Then you need a Retirement account (IRA and/or 401k) for when you retire.<br /><br />My question is how many accounts are to many accounts? How do you keep track of it all?<br /><br />Is your Emergency account and your Savings account the same account or two separate accounts?<br /><br />How do you fund these accounts? Is it done simultaneously or do you fully fund one then fund another?<br /><br />If you want to save to buy a car do you save in your savings account or do you open a Car account?<br /><br />My head is spinning, can someone simplify all of this for me?Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com6tag:blogger.com,1999:blog-4199732916931828766.post-13936891418953881342010-01-11T22:03:00.002-05:002010-01-11T22:16:12.454-05:00401k BluesSorry that I have been MIA, I have been working 12 hour days and when I get home blogging is the last thing on my mind. Sometimes I really hate being salary, at least when I was hourly I never worked more than 40 hours per week.<br /><br />Anyway, I have been working toward my goal of paying off my Master Card and I am glad to say I am $170 away from that goal. I also have $450 in my savings.<br /><br />I have also been reading up on finance, and in the near future I plan to open a Roth IRA. But here is my <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">dilemma</span>.<br /><br />The good news is - my new company has a 401k. The match up to 1% of my salary 100%. From 2% - 5% they will match $0.50 on the dollar. I will be <span class="blsp-spelling-corrected" id="SPELLING_ERROR_1">eligible</span> to join in 11 months.<br /><br />The bad news is - there are no investment options. They take the money to purchase their own stock. I am told I can sell the stock whenever I want but that is a lot to go through.<br /><br />The question is, should I sign up for the 401k?<br /><br />I know free money is great, but only having the stock of one company in my <span class="blsp-spelling-corrected" id="SPELLING_ERROR_2">portfolio</span> seems <span class="blsp-spelling-corrected" id="SPELLING_ERROR_3">dangerous</span> to me.<br /><br />Help.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-5276596041479377672009-12-31T20:59:00.002-05:002009-12-31T21:05:34.687-05:00New Year's ResolutionsI have taken the past week to fully examine my life and come up with quantifiable New Year's Resolutions. Some are new, and the rest are repeats of past goals that I need to continue or restart in the new year.<br /><br />My financial goals for 2010 are<br /><br />1. Pay off American Express and one of my Visa cards<br />2. Open an IRA<br />3. Save $3000<br />4. Find an additional source of income<br /><br />These goals are to be completed by December 31, 2010<br /><br />Happy New Year Everyone!Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-4825746625998215082009-12-21T20:41:00.004-05:002009-12-21T21:37:55.480-05:00Somethings To Think AboutAs I have looked over some of my old post I have noticed a lot of advice from reader <a href="http://dreamhousesdocometrue.blogspot.com/">Morrison</a>. It is always nice to get much needed advice from someone that either has been in your shoes or has knowledge that can help you. Because of Morrison's diligence I have felt compelled to respond to some of her comments. Someone that was able to retire at 50 must know from what they speak.<br /><br />In the post "I'll Gotten Gains" Morrison gave me some great ideas for what I can buy from Walmart for work, but also asked me why I buy pre-cut frozen chicken, Oreo's, salad dressing, and kitty litter from Petsmart.<br /><br />1. Raw chicken makes me sick every time I handle it, I mean pass out sick. Once I fainted in the kitchen while pulling the skin off of a chicken breast. Considering I was holding a knife I'm glad I didn't impale myself. I will still buy frozen chicken but it wont be the pre cooked kind.<br /><br />2. Usually I don't eat cookies, once in a great while I will feel the urge for a specific cookie and buy it. I usually buy the store brand, I honestly can't remember why I didn't that time, I was probably delirious by the low price. In the future I will buy the store brand or bake my own.<br /><br />3. I never thought to make my own salad dressing, can you make Cesar at home?<br /><br />4. I have had cats for most of my life and have tried all types of litter, Arm & Hammer works the best out of all of them (and I live with 4 cats), I never thought to look for it at Walmart. I'll have to in the future.<br /><br />Sinkers was a typo, I meant Snickers.<br /><br />In "New Budget" Morrison asked why I needed a land line and why don't I change my cell phone plan.<br /><br />1. I live with my mother who is 66 years young (I swear she is in better shape then I am) and she is an avid believer in the land line. After a very active hurricane season a few years ago I became a believer too, cell phones don't always work. I did shop around and the plan I have with my provider is the best one available in my area, my mother would never let me cut off the land line, I use the Internet connection for my on-line classes, and T.V. is the one luxury I allow myself.<br /><br />2. I looked into a new cell phone plan and I don't know what to do. I could change my plan to all text and $0.40 per min calls but that could end up costing me more than I am paying now. I also live in an area where cell phone coverage is not guaranteed so I am stuck with my provider for now.<br /><br />In "New Financial goals" Morrison suggested that I buy a used car instead of a new car.<br /><br />1. In making my budget for the next few months I became excited at how much money I will be saving and using toward debt repayment and decided I don't want a new car. I will maintain my current car until it can not be fixed anymore. When the time comes to replace the car I will buy a new old car off the lot (example - a new 2008 that is still on the lot in 2010), It will still be new but not brand new. I can't buy used, all I heard growing up is that an used car is someones trash. My entire family buys new cars, but we keep them for a long time.<br /><br />In "Debt Gets In The Way" Morrison suggested Craig's list for the mixer and embroidery machine I want.<br /><br />1. I don't buy used. Everyone has their thing, that's mine. I used to work for a major department store chain that sold the Sunbeam mixer and people were always returning them, I'd rather save up and get a good machine. I did not know Walmart had a comparable machine for less, I'll have to look into it. I also need to do more research on the topic of embroidery machines, I like the Brother machine because I saw it on HSN for $150 per month for 5 months with free shipping.<br /><br />As far as the private student loan the rate does change, it is not fixed.<br /><br />Morrison, I enjoy your input. Keep it coming.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com1tag:blogger.com,1999:blog-4199732916931828766.post-25293969767946115872009-12-19T21:06:00.002-05:002009-12-19T21:37:54.281-05:00Student LoansTeacHer Finance asked why my student loans are "another story" (as stated in my last entry). Some readers my have also noticed that other than the amount I pay every month I never mention my student loans. The reason is.......<br /><br />I have $90,000 in student loans and I have no idea how I am going to pay them off.<br /><br />How did I acquire $90,000 in student loans?<br /><br />I went to a public university after high school Federal Loan = $22,000<br />I went to a private tech school to get another degree that I thought would advance my career Federal Loan = $19,000<br />Private Loan = $51,000 ($37,000 x 13% interest)<br /><br />Due to excessive debt I was unable to consolidate my private student loan and am therefore stuck with a high interest rate.<br /><br />How do you pay off $90,000 in student loan debt making $35,000 a year ($28,800 after taxes).<br /><br />My plan of attack is to pay off my credit card debt within the next 2 years and roll all of that money into my private student loan.<br /><br />Right now I am treading water. I hope I don't get a cramp.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com2tag:blogger.com,1999:blog-4199732916931828766.post-44499204035707579272009-12-15T21:28:00.002-05:002009-12-15T21:42:59.421-05:00Debt Get's In The WayFor years I have wanted a KitchenAid® 5-Quart Artisan™ Stand Mixer ($299.99), but my constant debt has stopped me from being able to buy one.<br /><br />I have also wanted a Brother PE700II Embroidery Machine ($799.00), but once again my debt got in the way.<br /><br />I also want to buy a townhouse and fill it with furniture. But, you know.<br /><br />Debt can stop you from enjoying your life. It can cause you to miss once-in-a-life-time events and opportunities.<br /><br />I stopped blogging for a while and lost my way with my get out of debt plan, but I am back now and completely recommitted to getting my self out of credit card debt (student loan is a different story).Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com4tag:blogger.com,1999:blog-4199732916931828766.post-44928622865081398952009-12-03T16:47:00.003-05:002009-12-06T20:31:06.559-05:00New Financial GoalsNow that I have a new job, I think I need to come up with some real financial goals other than paying off my credit cards.<br /><br />Goal 1. Emergency Fund<br /><br />According to Suzie Orman you should have an emergency fund of at least 6 months salary in the event of job loss.<br /><br /><span style="color: rgb(255, 0, 0);">Emergency Fund - $10,000</span><br /><br />Goal 2. New Car Fund<br /><br />My current car is 10 years old and while it runs fine I know that I will need a new car sooner or later. According to Internet lore you should put down 20% of the price of the car to account for depreciation.<br /><br /><span style="color: rgb(255, 0, 0);">New Car Fund - $5000</span><br /><br />Goal 3. Monthly Savings<br /><br />Most financial advisers (at least the ones I have seen on TV say that you should save 20% of your income. I can not afford that, so I'm going to start with 10%<br /><br /><span style="color: rgb(255, 0, 0);">Monthly Savings - $230 per month</span><br /><br />These goals are going to take a lot of discipline to accomplish. I guess if I focus on the monthly savings I will get all of the goals done over time.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com4tag:blogger.com,1999:blog-4199732916931828766.post-61017489050210945482009-12-03T16:45:00.000-05:002009-12-03T16:46:28.102-05:00New BudgetWeek 1 - $574<br />Sallie Mae - $560<br />Surplus - $14<br /><br />Week 2 - $574<br />Electric - $200<br />Master Card - $200<br />Savings - $74<br />Surplus - $100<br /><br />Week 3 - $574<br />Cable/Internet/Phone - $160<br />Cell - $70<br />Visa 1 - $90<br />Visa 2 - $90<br />Amex - $150<br />Surplus - $14<br /><br />Week 4 - $574<br />Master Card - $274<br />Savings Account - $200<br />Surplus - $100<br /><br />Under this budget I will be putting $274 a month into savings and $474 into debt repayment. After the Master Card gets paid off (again), I will roll the money into my Amex. In 2010 there are 4 months with 5 Fridays, the money from those extra checks will go into my savings.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com1tag:blogger.com,1999:blog-4199732916931828766.post-82249310806316682552009-12-03T16:44:00.000-05:002009-12-03T16:45:39.371-05:00I Got A New JobA few post back I talked about hating job interviews.<br /><br />I took Small Steps For Big Change's advice and followed up with the position that was going to be vacant once the current person got promoted. To make a long story short, she got promoted and I now have a new job.<br /><br />With the new job comes a new title (I am now a manager), a new pay rate ($35,000 per year), and a new schedule (good bye Monday through Friday). Now I have to come up with a new budget.<br /><br />My new job pays weekly, that will take some getting used to. Getting paid weekly sounds good, but it means 4 (or 5) smaller checks instead of 2 (or 3) larger checks. Also, the new job is salary instead of hourly. I know some people feel that salary is better than hourly, but I disagree. I find that when you are salary, companies will work you to death and not have to pay you.<br /><br />I am nervous and excited at the all at once.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-11760082825227079522009-12-03T16:43:00.000-05:002009-12-03T16:44:27.938-05:00Financial SurveyWhile job hunting I came to <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">realize</span> that everyone is on a different <span class="blsp-spelling-corrected" id="SPELLING_ERROR_1">pay cycle</span>, this made me think of an interesting question.<br /><br />Would you rather get paid<br /><br />A. Once a Month<br />B. Twice a Month<br />C. Bi-Weekly<br />D. WeeklySamhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-82442389446210034652009-11-08T14:27:00.000-05:002009-11-08T14:28:35.236-05:00Ill Gotten GainsI am going to take the advice of TeacHer and Smallstepsforbigchange and put most of the money in savings ($1000) and use a small portion for debt repayment ($500).<br /><br />I am also working on becoming more responsible with the little bit of extra money I get, so with the $400 I had left over after I paid bills I kept $100 for shopping and am going to make a $300 payment to my MasterCard.<br /><br />This is how I spent the $100<br /><br />$35 - Petsmart<br /> 2 boxes of cat litter (Need)<br /> Cat Food (Need)<br /><br />I saved $4 by using my PetPerks card<br /><br />$14 - Jo-Ann<br /> Fabric (Want)<br /> Velcro (Want)<br /> Insul-Bright (Want)<br /><br />I saved $2.80 by using my 40% off coupon.<br />I am making coffee cozies as Christmas presents for my coworkers, each one will cost me $2.80 to make. Once completed I will post them on my other blog.<br /><br />$39 - Walmart<br /> Frozen Pizza (Want)<br /> Frozen pre-cooked, pre-cut, chicken breast (Need)<br /> Mozzarella Cheese (Need)<br /> Chicken Slices (need)<br /> 2 Cadbury Chocolate Bars (Want)<br /> Oreos (Want)<br /> Ritz (Want)<br /> 2 packages of wraps (Need)<br /> A Pomegranate (Need)<br /> Cesar Salad Dressing (Need)<br /> Parmesan Cheese (Want)<br /> Sinkers (Want)<br /><br />I am usually a Target shopper, since I am trying to get my financial life in order I have decided to get off my high horse and become a Walmart shopper.<br /><br />I realized that I would stop wasting so much money on junk food if I would make and bring lunch to work. If you couldn't tell from my shopping list, this week is chicken cesar wraps and a little baggie of either Oreo's or Ritz. If I had only bought needs I would have saved $15. Maybe next time I wont buy desert.<br /><br />As you can see I have decided to break everything I buy into the categories of wants and needs. This way I think of every purchase before and after I make it.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com4tag:blogger.com,1999:blog-4199732916931828766.post-61221958554429500122009-11-08T13:29:00.002-05:002009-11-08T13:34:10.419-05:00November Spending Plan - Part 1<h3 style="font-weight: normal;font-family:verdana;" class="post-title entry-title"><span style="font-size:100%;"><span style="font-family: trebuchet ms;font-size:100%;" >I was finally able to get in contact with Sallie Mae and for the low, low cost of $150 my 3 Sallie Mae loans are in forbearance for the next 3 months. I know it will cost me in the end but my money is so tight right now that I have to think short term over long term.</span><br /></span></h3><span style=";font-family:verdana;font-size:100%;" >My cash break down is<br /><br />Paycheck - $850<br /><br />Sallie Mae - $150<br />Electric Bill - $170<br />Master Card - $70<br />Gas - $24<br />Sally Beauty Supply - $31 (I needed a new blow dryer)<br /><br />Total - $445<br /><br />Surplus - $405<br /><br />Over the next 3 months I will have $1500 cash from not paying my student loan. The question now is what do I do with the money?<br /><br />A. Put it in my savings account<br />B. Pay off my Master Card (again)<br />C. Put half in my savings and use half toward credit card debt<br /><br />I could use some advice.</span>Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0tag:blogger.com,1999:blog-4199732916931828766.post-81272508037952760272009-11-08T13:18:00.004-05:002009-11-08T14:30:41.714-05:00Please Forgive My AbsenceAfter a short hiatus and a small financial breakdown I have decided to resume posting on this blog. I started to get depressed and made some bad financial decisions that now I have to pay the piper for. When I posted on this blog regularly I was making a lot of progress, so I see that I need to come back in order to recover and make more progress.<br /><br />Future posts will be copies of financial post from my other blog.Samhttp://www.blogger.com/profile/08209596348602370646noreply@blogger.com0