Improving, steady, or getting worse?

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Improving, steady, or getting worse?
22
Thu, 11-20-2008 - 9:52am

I'm just amazed by how many people I know IRL that are having such a difficult time this year. I'm just wondering, then, if your financial situation over the last few months has improved, worsened, or if you're pretty much holding steady.

Ours has improved somewhat with my income, which has amazed both of us, but it's still not easy. Maybe next year will be different, LOL. I've taken some of the load off of DH so his side work has dropped just a bit but it is SO worth it to see him finally able to relax and play w/ the kids. I'm only making 1500-2k a month right now, but that really frees up his weekends. Now if I just had a laptop to take out on the boat...

(I'm not new...just infrequent!)

Photobucket


Photobucket Photobucket Photobucket

Sarah
iVillage Member
Registered: 08-22-2008
Thu, 11-20-2008 - 3:15pm
Hard to say.
Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 11-20-2008 - 3:24pm

I guess I should have noted that it was a FABULOUS year right up til this quarter, just to put it into perspective.

I made more than twice what I made last year, which was already substantially more than I made the year before. We got out of debt: I paid off the last of over $50,000 in unsecured debt, paid off our HELOC of $44,000, and am set to pay off the last of my car loan. We spent a ginormous amount on our house, which we've lived in for 13 years and had spent almost nothing on in 13 years: proper drainage, some necessary landscaping, furniture for a few rooms. We sent DD to private school starting in Sept 2007 and she is so happy now. We took a family vacation to Ireland! We put 40% down on a new SUV to replace DH's 9yo minivan (he expects to keep the SUV for at least 8 years, and we got a 3-year loan @ 0.9% financing). We had an extra windfall, so we now have 8 months' living expenses in the bank. We did about 10 years' worth of spending in the last 12 months, but it was all planned for and has been paid for. Due to the economy, we may not have the kind of cash to spend in 2009 that we had in 2008 to this point, but we at least have made major inroads, had a fabulous family experience, and will be able to live comfortably for the next year if we are prudent about our money.

We do have big expenses coming up - we'll have to write our first college tuition check in 2010, and we won't get one dime of financial aid - so we will be sensible for the next year, even if it isn't as bad as I'm expecting it to be.

It's all so different now from where we were 4 years ago, at the start of this get-out-of-debt journey. What started as getting out of debt became a goal of financial independence, and that is something I'll be working on for the next 15 years.

Kelly

iVillage Member
Registered: 07-02-2008
Fri, 11-21-2008 - 10:37am

We have slightly improved our situation this year. Haven't charged anything since July and have actually taken charges off our c/c. We used to have our life insurance auto deducted from the c/c and that has stopped. And we canceled bottled water off our c/c so those are charges we no longer get on there.


I took a second job to build an efund and so far it has $800 in it. Nothing major but something at least. We are on our way towards good things. I need to have hope!

iVillage Member
Registered: 03-26-2003
Fri, 11-21-2008 - 2:23pm

It has been 2 years ago that I hit bottom financially.

Since that time, we have paid off debts of over $45K and are now debt free except for our mortgage, paid cash for our youngest dd's wedding, gave our oldest dd $5k for her refinance, and added $8K to our emergency savings ($2K more to go).

We are improving.

Photobucket
iVillage Member
Registered: 12-12-2004
Fri, 11-28-2008 - 10:03pm

Hi, and a belated Happy Thanksgiving.

iVillage Member
Registered: 06-09-2008
Fri, 11-28-2008 - 10:29pm
Things have got worse but will hopefully be improving soon. Money is just always so tight btw the
Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Sat, 11-29-2008 - 10:33am

Unfortunately for us, we are worse...I am not sure when or if it will ever get better.


We just keep swinging on the end of the rope and I have yet to figure out how the heck to make it better.


Logically, I know to make it better would be me bringing in income but I suck at that!

iVillage Member
Registered: 03-17-2003
Sat, 11-29-2008 - 11:35am

Becky, when I see you I see my sister-in-law.

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Sat, 11-29-2008 - 2:17pm

Thank you!

iVillage Member
Registered: 08-22-2008
Wed, 12-03-2008 - 1:15pm

Moms are in a bind.