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Across the Fence:  Just when you think you can't do it...  |
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catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
 Posted - Jul 20 2009 : 3:59:04 PM
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HAVE NO FEAR!! You can...
I was doing our finances today, making my new chart for the second half of the year. In less than 2.5 years, we have paid down over...drum roll please........$30,000 in debt....yep you read that right $30,000 big smackeroos... We were in debt of over $70,000 and my total today is just a hair over $38,000. That is still a lot but we have paid off 1 personal loan, 5 cc's and paid down on our car loans.
I just want to inspire others who may have gotten in over their heads and keep feeling like they are drowning. You can do it...just get organized and keep it in check. We haven't used our CC's in over 1.5 years. Anytime we come into a little extra cash, we save 10% and put the rest towards debt. It is working and now, I only have 3 more cc's to pay off and the vehicles.
We both came into our marriage heavily in debt and prioritizing what we REALLY want in life is helping us stop the mad spending and using the cc's. We don't have much to fall back on right now but the idea of NOT having to pay someone else for my own stupidity is a great feeling. We thought we would never get to the point of even thinking about buying a little home or being able to live on our paychecks AND put money away, but it is slowly coming to fruitation. Just keep swimming..just keep swimming...
Heather
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bertha
True Blue Farmgirl
234 Posts
Bertha
St Joseph
Mi
USA
234 Posts |
Posted - Jul 20 2009 : 4:11:35 PM
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| Hi Heather I realy admire you for sharing this. During these hard times a lot of us are hurting What a neat person you are Bert Bush |
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Ga Girl
True Blue Farmgirl
2355 Posts
Karen
Meansville
Ga.
USA
2355 Posts |
Posted - Jul 20 2009 : 4:12:31 PM
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Wow Heather thats awesome! Congrats! I have never owned a cc nor do I ever want one. I am also trying to get some of out payments and loans payed so we can try and put some money up for retirement. By hubby is our sole income and he is self employed so we really need some kind of savings. So if you see me swimming by just smile and say hello and I'll keep right on swimming along side of ya! Blessings,Karen
Create in me a pure heart,O God and renew a steadfast spirit within me. Psalms 51:10 http://farmgirlingastyle.blogspot.com/
www.KKJD1.etsy.com |
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catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
Posted - Jul 20 2009 : 4:15:28 PM
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Bertha...aw shucks...I just think it is important to remember we are all in this together and that I was once homeless, hungry and biting a the chomp for a chance....I took it and have been slowly but surely getting there. : )
Good on you for never owning a CC Karen. I had to get one as a necessity when I went back into the military myself...they couldn't get my pay figured out and I had to live off my CC for 3 months. I wasn't extravagant but it all adds up plus interest!! BLAH...never again...
Heather
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Alee
True Blue Farmgirl
22941 Posts
Alee
Worland
Wy
USA
22941 Posts |
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Cabinprincess
True Blue Farmgirl
682 Posts
Melody June
Athens
TX
USA
682 Posts |
Posted - Jul 20 2009 : 5:24:36 PM
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Good for you Heather. What a wonderful thing to share. We've not done CC for over 30 years. It's hard work for you but I feel your excitement!
Smiles, Melody June
God's gift to you are your talents, your gift to Him is how you use them. |
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peapicker
True Blue Farmgirl
716 Posts
texas
USA
716 Posts |
Posted - Jul 20 2009 : 5:43:12 PM
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| That's great Heather. You are an inspiration. |
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catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
Posted - Jul 20 2009 : 5:47:26 PM
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And we only make about $45,000 a year, that is military pay and what I get for college money. It can be done...and I can now see the finish line in site. I figured out at paying a little extra each month, we will be done paying on everything in 2.8 years. Of course, as it snowballs down to 2 cc's, 1 car payment, etc...it will go faster.
Heather
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Sitnalta
True Blue Farmgirl
4208 Posts
Jessica
NJ
USA
4208 Posts |
Posted - Jul 20 2009 : 7:00:16 PM
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Heather= That is awesome! It takes a lot of go-to to be able to stick to a good plan and climb out of debt. Hubby and I are trying. In the financial hard times that our country is facing, it makes it especially hard to keep your eye on the prize.
Keep up the good work! I'm pulling for you!!:D
hugs
Jessie
Farmgirl Sister #235
"You are my strength when I am weak. You are the treasure that I seek. You are my all in all. Seeking You as a precious jewel; Lord, to give up I'd be a fool. You are my all in all."
Stop by my blog for a visit www.messiejessie2.blogspot.com |
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kissmekate
True Blue Farmgirl
890 Posts
Kate
Delano
Minnesota
890 Posts |
Posted - Jul 20 2009 : 7:20:57 PM
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Congratulations! That is a good feeling!!!
Don't miss out on a blessing, just because it isn't packaged the way you expected. ~MaryJo Copeland |
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Tapestry
True Blue Farmgirl
1223 Posts
Cheryl
Wisconsin
USA
1223 Posts |
Posted - Jul 21 2009 : 01:12:04 AM
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Wow Heather! Hugely inspirational to me as I'm kinda doing a lot of swimming right now too. Until this past year I was working part time as my health allowed but had a very good job and had been there for 15 yrs. Then another health crisis and that was the end of my working. So all cc's we had that were manageable on our budget before are now a huge drain. I've had to borrow money from my parents to keep from drowning. I'm 52 years old and this is so embarrassing to have to do. I am slowly paying it down. I've canceled several cc's and no more. If you fall the least little bit behind the late charges are astronomical. They've also started gouging consumers with huge interest rates once they heard Pres. Obama was going to keep them from doing this come this month I think. So we'd received letters telling us back in March they were raising our interest rates by May 1st ahead of that deadline. They make it very hard for a person to make headway. However little by little I am doing it. I paid off our car in May and trying to get some medical bills under control that our insurance didn't pay. Trying hard to make sure our spending is budgeted so I can keep ahead of the bills and our mortgage. I keep telling my husband to hang in there we'll make it. I've read some money tips at Cindy's Porch and that has been inspiring to me. I like her shop at home first philosophy. We've been trying hard to do that. Plus MJ's philosophy of "Use it up, wear it out. Make it do or do without," is also excellent advice. Too many times in the past we saw something we wanted out came the plastic. NO MORE. I think you should start a blog with all of your budgeting tips for all of us struggling down the same path that you are obviously handling so well. You are an inspiration!
Happy farmgirl sister #353
Look for rainbows instead of mud puddles 
http://fantasm01.imagekind.com/
http://tapestrysimaginings.blogspot.com/ |
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junkjunkie
True Blue Farmgirl
1306 Posts
Judy
Lawrenceville
NJ
USA
1306 Posts |
Posted - Jul 21 2009 : 01:33:20 AM
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That's terrific, Heather! That is inspirational....funny that I read this post after just setting up my bill payments electronically, feeling am I every going to get this all paid off?? I try to pay extra if I can. Right now, I'm up to my nose in debt...but will keep on swimming! :)
"To have life in focus, we must have death in our field of vision." Benedictine monk John Main |
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prariehawk
True Blue Farmgirl
2914 Posts
Cindy
2914 Posts |
Posted - Jul 21 2009 : 05:22:54 AM
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That's great,Heather.In the past year, I've cancelled two of my cc's and am trying to get them paid off. Now I just have one. Wish I didn't have any,but I don't make much. almost have my house paid off (with my parents help) so that'll be a relief when I no longer owe any on my mortgage. I'm going to have a garden next year and I've started making things like my own laundry soap and even my own dog food to help the packaged stuff go further. It's almost (well, it is) a trap the way the cc companies lure you in. I'm inspired that you've been able to pay off so much in such a short period of time. I have ongoing medical expenses, which never seem to end. Thank God I have good insurance or I'd probably be homeless. It's like a vicious circle--I need the insurance that comes with my job to pay for my medical bills cause if I wasn't on meds., I couldn't work. And if I couldn't work, I couldn't pay for my meds. It never ends. I've though of going back to school but not sure what I want to study. But i love the academic environment. Anyway, congrats on being so financially savvy and best of luck with your schooling.
"Dog is my co-pilot"
Visit my blog at http://www.farmerinthebelle.blogspot.com/ |
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FebruaryViolet
True Blue Farmgirl
4810 Posts
Jonni
Elsmere
Kentucky
USA
4810 Posts |
Posted - Jul 21 2009 : 05:50:01 AM
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Great job, Heather. I like your dedication...and it can be very difficult during these tough times to not rely on credit--I know that I just simply don't carry them anymore. You can't "close" the accounts, because that looks bad on your credit, but so does debt! Aye yay yaye!!!
Congratulations!
Musings from our family in the Bluegrass http://sweetvioletmae.blogspot.com/ |
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Old Spirit
True Blue Farmgirl
1498 Posts
Rae
MN
1498 Posts |
Posted - Jul 21 2009 : 05:50:53 AM
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Way to go Heather and I agree with the idea of sharing on a blog things you did. We are in process of downsizing as well. Life hits you with things you don't expect and sometimes debt just sneaks up and takes over. I am taking smallest bill and paying extra on it as it feels good to see them end. One at a time. Also just not going places helps and the good thing is we have so much to do at home and enjoy being home it isn't a sacrifice.
We have a couple gift cards for gifts to go out and eat which is really nice as then we don't feel bad not being able to do things.
But...way to go Heather!!!!!
Rae
...those who hope in the Lord will renew their strength. They will soar on wings like eagles:...
Isaiah 40:31 |
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RubyJunes
True Blue Farmgirl
246 Posts
June
Greenwich
Ohio
USA
246 Posts |
Posted - Jul 21 2009 : 06:00:56 AM
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Thank you for sharing your progress, Heather! It definitely encourages me, as we struggle like so many others.
Still swimming,
--June
Farmgirl #545
www.RubyJunes.com |
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kristin sherrill
True Blue Farmgirl
11303 Posts
kristin
chickamauga
ga
USA
11303 Posts |
Posted - Jul 21 2009 : 06:03:25 AM
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Yeah, Heather! Way to go, girl! Keep it up. I am proud of ya'll.
Kris
Happiness is simple. |
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catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
Posted - Jul 21 2009 : 06:31:08 AM
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I am proud of all ya'll for just keeping swimming!!!; )
What motivated me was we have a Bank of America card and we had paid down about $1500 on it. Since we didn't use it, they dropped out credit line by $1000, so it screwed up our credit score because it looked like we owed more than what we had paid. That, first made me mad, then it lit a fire under my backside. They also got mad, because since the debt incurred while in the military, they HAVE to give up 5% on the interest, nothing higher. So, they still make money, just not as much. I will NEVER been in debt, as far as cc's, again, ever. I will go without, make do, find a coupon, scrimp, save or just be. I have a pretty good credit score and Scott's is slowly coming back up (his ex has made sure to keep it low...grrrrrr...)
Heather
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chaddsgirl
True Blue Farmgirl
843 Posts
Sarah
Farmgirl Sisterhood #639
MO
USA
843 Posts |
Posted - Jul 21 2009 : 06:54:30 AM
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Congratulations Heather! Isn't it a wonderful feeling to be able to slowly start paying things off? It's like a weight is being lifted off your shoulders. Keep fighting the good fight, I'm sure now that you realize how much progress you've made you're probably more determined than ever to keep at it until all your debt is completely wiped out.
I have been working along dilligently to pay off debt as well. I paid off all my credit cards about 2 years ago and paid off my truck a couple of months ago. I'm just thiiiisss close to having HD's truck paid off. After that we have the house and DH's student loans then we'll be debt free! DH quit his job to farm about 2 years ago and we've been living solely off my income for the last two years. In spite of that, I've managed to scrimp and save and pay off debt. Just like Heather said, it can be done! And it is such a relief.
A person is a success if they get up in the morning and get to bed at night and in between does what they want to do. Bob Dylan |
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Amie C.
True Blue Farmgirl
2099 Posts
Finger Lakes Region
NY
2099 Posts |
Posted - Jul 21 2009 : 07:29:28 AM
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We've got only our mortgage and student loans, so the terms are better than a cc. But that's still plenty of debt and I don't like it. I'd like to pay down the house faster, but it's hard when you have an old house because they always need something fixed.
Right now, we're trying to fix as many things as we can think of while I'm still working. That way when my job ends next April, we (hopefully, fingers crossed) won't have any big emergency expenses while I'm looking for another one. |
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Amie C.
True Blue Farmgirl
2099 Posts
Finger Lakes Region
NY
2099 Posts |
Posted - Jul 21 2009 : 07:34:31 AM
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| And congratulations, Heather! That's a ton of debt erased in such a short time! |
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catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
Posted - Jul 21 2009 : 08:00:30 AM
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Yep...could have owned a NICE house by now...but these are the lemons I was given...so here I am... : )
Heather
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Bellepepper
True Blue Farmgirl
1207 Posts
Belle
Coffeyville
KS
USA
1207 Posts |
Posted - Jul 21 2009 : 08:33:11 AM
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We have one credit card that we use for mail/internet/phone orders. I never order anything that I don't have the money to pay for. We pay the full amt every month. I love it when we get the phone calls that tell us they can lower our credit card interest. I tell them, if it got any lower, they would have to pay me. OH, they DO! We have a Cabela's card and get $ points that we can spend at Cabela's.
I'm proud of your gals for getting the job done. I have been there, more than once. It becomes easier to make the hard decisions on what to buy or not to buy as you see the balances go down.
It seems that no one "saves up" for anything. We are so spoiled and want everything now. We have to be real careful not to overspend since we are in the retired/fixed income crowd. I think things are going to go downhill financially with all the stuff going on in D.C. Being out of debt will put us all ahead of the game.
Belle |
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LauriP
True Blue Farmgirl
239 Posts
Laurianne
Hertford
North Carolina
USA
239 Posts |
Posted - Jul 21 2009 : 08:59:02 AM
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 ~~ Heather, I am so darn proud of you!!
Back in '94 we quit the credit card %&**^(), and it's only cash for everything. Yup -- the companies were sending me the letters saying "For only 0% Interest..." -- Blah. The companies don't need my money, and the miles tom drives dont equal the greed those CEO's want for their girlfriends. The main thing to remember is that its You Money -- don't let other people have it, don't let them try to convince you that you need to go in debt, and do not let the impulse shopping overwhelm you. Been There, Done That.
The goal is to keep yourself solvent -- we've been thru the mill with no work, or selling firewood to make ends meet..making a whopping $45.00 one week, and we felt like we were doing really good. And still facing debt. Never, Evah Again!! Keep yourself ahead of the corporations, and they eventually realize you're not going to be someone they will snare.
When we bought this house we made sure that part of our documents stated that we would have no contact with any of the umbrella companies that the mortgage company owns/has interest in. If any of you can, make sure to find that portion of any credit card statements you have, and make doubly sure that you contact the company and tell then to stop sending additional letters/forms/garbage to have you get an additional credit card, or any other offers from them. It may take up to 60 days, but not having those offers is such a wonderful thing.
Also -- make sure to have your home phone, cell phones, and if possible, work phones on the Do Not CallRegistry -- it is a huge fine if the credit card companies call you to bellyache about any debt you owe -- the registry makes sure you do not get harrased by them. You can go online to register, it takes maybe 5 minutes to do, and the Quiet from no ringing telephone is well worth the effort. I don't have our home # with our mortgage company, and it drives them nuts. It's not necessary, and it's my phone, not theirs.
Keep on doin the work your doin' Heather, an' we will be cheering you on all the way!!
Laurianne |
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catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
Posted - Jul 21 2009 : 09:21:22 AM
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Thanks Laurie. I figure IF I ever became homeless again, at leat I wouldn't owe anyone a monthly bill. It is my goal and I will BE a high level hospital adminitrator, but it is NOT about the money or a certain lifestyle, it is about an achievement for me. I know too many people who are in debt but LOOK like they are living the high life. My brother is a perfect example and he has told me (back when we talked) he goes to bed every night worried about all the debt in his life but his wife is a CC spender and does not plan on stopping. They have the latest greatest and now are building a new, BIGGER home, mortgaged on their current home. She doesn't believe in coupons or cash. Yes, my brother makes over $120,000 a year and she works part time but they are barely surviving. I don't want to be that. It is my goal, at 40, to be completely out of debt and have xxx amount in the bank. 5 years to do that is doable and I am on my way.
Good tips Lauri. Thanks.
Heather
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paradiseplantation
True Blue Farmgirl
1277 Posts
julie
social springs community
Louisiana
USA
1277 Posts |
Posted - Jul 21 2009 : 09:36:41 AM
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Heather!!!! I'm so proud of you! I know how that feels. We struggled with the same thing, and finally about two years ago, we paid off everything but the mortgage. And we're working hard on that! I know you are feeling a lot lighter right now. Keep up the good work!!!!!!
from the hearts of paradise... |
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Across the Fence: Just when you think you can't do it... |
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Just when you think you can't do it...
