Would you guys please help me...
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Would you guys please help me...
| Wed, 03-17-2010 - 10:38am |
I am still here, still plugging away at paying of those STUPID credit cards and not using them. And still managing to NOT build my efund!ugh
I have a request from you gals and guys....I am writing a paper for school and it is about the process of paying of debt. I thought I would pose a few questions to you and see if I can use this as part of my research. Please, if you have time, help me out. If not, I understand!
1)What are your strengths that make you successful in this battle?
2)Weaknesses that hurt you in this battle?
3)Opportunities (in your external environment)


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Hope this helps!
1)What are your strengths that make you successful in this battle?
Good organization and planning, my spreadsheet addiction!
2)Weaknesses that hurt you in this battle?
Impatience and
Bex -
1)What are your strengths that make you successful in this battle?
Live alone, most the time not being accountable to anyone but myself. (I am married but DH and I have jobs in different states and we "commute"). We also decided not to have kids.
2)Weaknesses that hurt you in this battle?
We both have expensive hobbies and tastes. For example, I fly, as in being a private pilot and from time to time will rent a small plane and fly somewhere.
3)Opportunities (in your external environment) that present themselves to help along the way.
While DH's area is expensive, I live in an area with relatively low housing cost. I am also able to use public transportation to get to work (low auto insurance, fuel, maintenance costs).
4)Threats (in your external environment) that threaten your progress.
Eventually I may want to move closer to DH and may have to take a less desirable job.
5)Are there demographic or cultural reasons that caused you to begin paying down your debt.
Both of us are raised to understand the difference of needs and wants, and we do not bend to "social pressure", i.e. not feel obligated to accept invitation from people at we are not closed to, not feel obligated to contribute to a co-worker' baby shower, etc. They all add up. With the money saved, it makes it easier to tackle debts (the only debts we have are three mortgages for three houses, all worth more than owe, thank god, even in this economy). My parents are big savers - growing up we lived on my father's pay alone - everything my mother made went into savings. Essentially a two-income family living like an one-income family.
6)What are some of your biggest challenges(neg or pos)?
Tons, but fortunately, or unfortunately, not really debt related. I could quit working and move in with DH if I need to, and it won't affect our finance a bit, but I need to work because I enjoy working, and so the challenge is to maintain a non-traditional marriage.
7)How do you keep yourself motivated?
Looking at the numbers going down on the mortgage statements, and savings numbers going up.
8)Why do those things motivate you?
Numbers don't lie. And savings = security.
9)How do you influence others to support you (spouse, kids, etc)
I am just lucky in this area - DH never questions how I handle my part of the finance, and we seldom disagree on our part of the finance.
10)How do you evaluate your succes? If you have measures other than watching your debt go down.
Savings go up! Peace of mind - I don't lost sleep over money issues.
Edited for grammar.
Edited 3/17/2010 12:49 pm ET by demontespan
I'm with Bex on a couple things lol!
1)What are your strengths that make you successful in this battle?
I also am addicted to spreadsheets.
I am a trained accountant, thus I am very good with manipulating numbers, which is good cuz we have 3 bank accounts so I have juggle around cash flow constantly.
2)Weaknesses that hurt you in this battle?
Depression.
Kids - I have 5 kids and a dayhome, which equals being very very tired some days, which then leads to ordering food and blowing the budget.
I get way too emotional about the financial aspect of our lives, and that definitely hinders us.
3)Opportunities (in your external environment) that present themselves to help along the way.
I honestly don't know. Besides getting DH's bonus, I can't really think of anything particular.
4)Threats (in your external environment) that threaten your progress.
Does a court-happy ex count?
We constantly have an impending custody battle in our life. If it's not one thing, it's another. Court means lawyers, and even if we self-represent, it still means time of work and emotional strain.
The economy in general sucks - I'm having a hard time getting dayhome kids unless I want to really slash my rates and bottom line.
And apparently my appliances hate me.
5)Are there demographic or cultural reasons that caused you to begin paying down your debt.
Just getting in wayyyyy over our heads.
And crazy ex starting some court stuff (that could be considered demographic, if you want to consider that we're a blended family and I think families that are paying out child support tend to have more money issues than a "traditional" family).
6)What are some of your biggest challenges(neg or pos)?
Getting DH on board.
My mental state.
Rising cost of food...that is our biggest variable expense each month.
7)How do you keep yourself motivated?
I consider my parents life, and their semi-retirement. They are happy & relaxed because they planned for this. They never carried debt other than their mortgages.
I have a picture on the fridge from last summer - DH & I, with 5 kids, sitting on the patio at Hard Rock Cafe in Montreal. We were absolutely, purely happy...I am determined to get back to that kind of life, where we aren't constantly worrying about money and can just enjoy our life.
8)Why do those things motivate you?
Because THAT is the life I want for my kids.
NOT this life where Mom & Dad are constantly stressed out about money, Dad is constantly working OT, and we can't afford to buy things for them/do anything "fun" with them.
My parents motivate me because my DH is 41, so getting out of debt is a now or never kinda deal.
9)How do you influence others to support you (spouse, kids, etc)
I guilt trip DH all the time. I try to compare things (your smoking of $12.88 a day could $300 towards debt etc).
Trying to teach our kids that EVERYTHING costs money. We told them it costs 6 cents every time they turn on a light and 20 cents every hour it burns...so if they leave for school and leave their 2 bulbs on all day, they owe us 2 * 20 cents * 8 hours etc. LOL.
10)How do you evaluate your succes? If you have measures other than watching your debt go down.
I'll let you know if I ever get there.
For now, I have $137.44 in my e-fund, and 2 months ago I had nothing, so obviously I'm doing something right.
~ Mom to 5 ~
1)What are your strengths that make you successful in this battle?
My strengths are my record keeping skills.
Norma
"Patience is the best remedy for every trouble"- Plautus
Hi, Hope this helps. Glad to hear you are still plugging away at your debt reduction.
1)What are your strengths that make you successful in this battle?
***determination, willingness to learn.
2)Weaknesses that hurt you in this battle?
***working so much it back fired and had to get away for a few days. And kids, wanting to buy them things.
3)Opportunities (in your external environment) that present themselves to help along the way.
***this sounds terrible--two small inheritances, not really opportunities but they did help.
4)Threats (in your external environment) that threaten your progress.
***Bills I did not know about or underestimated.
5)Are there demographic or cultural reasons that caused you to begin paying down your debt.
***no
6)What are some of your biggest challenges(neg or pos)?
***trying to think of ways to earn extra money and never coming up with any.
7)How do you keep yourself motivated?
***seeing the debt totals go down is very motivating so updating the spread sheets etc.
8)Why do those things motivate you?
***gives hope for the future.
9)How do you influence others to support you (spouse, kids, etc)
***by being excited about reaching goals and showing that, makes them want to support me.
10)How do you evaluate your succes? If you have measures other than watching your debt go down.
***using benchmarks. If I think I am still bad off, I think about where I was the year before and realize I am really doing better.
Good luck with your paper.
Question............. I did NOT read your reply before I done mine.
Norma
"Patience is the best remedy for every trouble"- Plautus
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -
1)What are your strengths that make you successful in this battle?
Organization, planning and communication.
2)Weaknesses that hurt you in this battle?
Wanting to get things done and overwith now.
1)What are your strengths that make you successful in this battle?
IT WAS MY WILLINGNESS TO DO WITHOUT THINGS THAT WOULD GET THE JOB DONE. SO MANY I HAVE FOUND FROM SOME OF THE POSTINGS DON'T WANT TO DO WITHOUT THE SMALLEST THING IN
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