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Have some questions
| Tue, 02-15-2005 - 12:33pm |
I am working on my debt situation. It is really enlightening to see what you spend your money on. I finally broke down and purchased Quicken and I charged it. However, I am trying my best not to charge. However, when you need car maintenance and need to go to the doctor and need to take supplements for my health. What do you do? Also, I need to take some courses to start a business and get where I need to get and don't have the cash. It is so frustrating.
I am just rambling here. I guess I need some guidance.
Also, I am trying to figure out how to get rid of my car; however, my car is worth less than the amount I owe. (It is a purchased car, not a lease) Any tips?

Hi there and welcome to the board!
Congrats on reigning in your charging.
All my best,
Danni
I budget for prescriptions and dr. co-pays just like I budget for groceries and gas. Supplements are covered in my grocery budget.
I'm working on my savings, but my plan is to have something along the lines of: $250 for overdraft protection (in case I overspend or make a mistake in the checking account), $600 for an annual trip I take, $500 for car maintenance, $500 for emergencies. I know it will take time to build those up, but once I do then I won't have to worry about charging when I need new tires or other expenses like that.
Usually when you first lay out your budget you find that your expenses are higher than your income - hence the reason you are in debt. It took me some time to get my expenses down (since I can't raise my income). I cut out all services on my home phone and now only pay $12 per month, changed car insurance, canceled the cable, changed to DSL from a cable modem, reduced what I spent on groceries (just by paying more attention), found a cheaper cell phone plan, among other things. Now my income is right at my expenses and I know in a year and 1/2 when dd starts first grade, my expenses will be much lower than my income, which should enable me to afford a mortgage. It takes time to get your budget to work, it takes time, patience and some creativity.
Thanks. I have just transferred one credit card to another with zero percent interest. I figuere 0 percent interest is less than 12%. My expenses also exceed my income, hence not being able to budget for car repairs, supplements that I need because I am a diabetic and don't have health insurance. I have a basic phone bill and a cellphone, which I do need. I have dial-up modem on my internet, that it looks like I am going to have to upgrade for the business I am going into.
Thanks again.
It is nice to know that I am not alone. I just have to figure out this car payment issue.