Hi

iVillage Member
Registered: 04-22-2003
Hi
6
Thu, 06-23-2005 - 8:46am

It's been awhile. My job has been extremely hectic, and I haven't had a chance to check in in a very long time.
I have missed the board. I almost couldn't find it since they revamped the site.
Here's an update on me: I'm still saving and to date have about 3 months worth of salary saved up.
I want at least 6 months saved up. But, it's been really difficult lately.
REmember, I paid off all my credit cards and only have a car note.
Well, just 2 weeks ago, my car had problems again (car repairs seem to be the bane of my existence and were mostly what my debt has always consisted of).
SO, I had to put $800 and some change on a credit card b/c I was darned if I was going to pull any out of my savings. I have worked TOO HARD to save.
I put it on a 0% APR for 6 months card. Since I paid off my bills, I've been getting cards and offers sent to me left and right.
So, I won't have a problem paying that money off, but it's thrown me off my plan.
The original amount was almost $1000 for the car repair, but my dad gave me $200 and I got paid $100 for one of my students I tutor. I will be using my tutor money to help and I won't have a problem paying off in time w/o incurring the interest.
I think this is the worst part of being caught in debt...being caught unprepared.
Preparation is so key to managing your money.
I could have easily paid cash with savings, but I am not going to sacrifice what I need.
I cried for about 20 minutes then pulled myself together. It's the same old thing. I feel that I can never get ahead...at least not to where I want to be in the timeframe I would like to be there.
HOpe you all are doing well on the path to debt freedom.

cheers,
slojuly

iVillage Member
Registered: 09-20-2004
In reply to: slojuly
Thu, 06-23-2005 - 8:52am
So great to hear from you!!! Sounds like you are doing great. Cars will always cause grief, this I have learned. It's great that you have money in savings. I can't wait for that day!! (but will have to wait a LONG, LONG time LOL!!) Thanks for the update, Heather
Avatar for mymartes
iVillage Member
Registered: 03-26-2003
In reply to: slojuly
Thu, 06-23-2005 - 9:59am

Great to hear from you. I think having 3 month of expenses saved is fabulous. Perhaps you should also have a freedom account (concept is from Mary Hunt). It's an account you open in the same bank (you have your other account). Don't link it to your debit/atm card. You order checks. Then you could create sub-accounts. For instance. car repair, car insurance, car registration, etc. It probably make it easier for you when an unexpected expense comes up. You won't have to touch your savings.

Just a thought.

MYM

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
In reply to: slojuly
Thu, 06-23-2005 - 10:08am
Hello and welcome back!

All my best,
Danni

iVillage Member
Registered: 05-30-2003
In reply to: slojuly
Thu, 06-23-2005 - 11:04am

Sounds like you're doing well! Don't let the car thing throw you off too much. At least you're not having a car problem AND a money problem (to paraphrase Dave Ramsey), lol.

I'd recommend a separate savings account for the car too. That way you will be covered. Besides, it's a proven fact that once the money is in place to cover an unexpected repair, it hardly has to get used (well, there may be a couple of times there at first, lol).

Lisa

iVillage Member
Registered: 04-22-2003
In reply to: slojuly
Thu, 06-23-2005 - 12:18pm

Thanks for all the replies and suggestions.
I have 3 separate savings accounts - one at my bank where I have a checking account, one at my credit union, and one through ING.
The one that is the least accessible to me is the credit union even though it's located in my office. I hardly use it and don't keep the ATM card or pin with me.
I guess I could designate that one, but that puts me behind again with my savings goal.
I hate being behind! I work so hard to get ahead, and it just goes so slowly.

(sigh)

cheers,
slojuly

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
In reply to: slojuly
Thu, 06-23-2005 - 4:27pm

Good to hear from you!!!


YEAH!!!