disappointed ...need some good advice
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disappointed ...need some good advice
| Thu, 04-01-2010 - 10:18pm |
Hi all- sorry for the long post-
Sorry I haven't posted or been keeping up...been very busy...
Galpal1 has been doing some very expensive renos recently and I love what she has been doing ...looks beautiful...and I have done most of the designing for her and enjoyed it...
As some of you know I moved into a small brand new house (1150 sq. ft.) about five years ago...
I love the house and take excellent care of it and up until last Oct. was always upgrading and changing things...
Since then I have been saving for a reno


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I'm not very knowledgable about sinking funds and the like and my e fund, while it does exist, is pretty pathetic. But chin up Duke. Everyone makes mistakes and the one thing I do know is that climbing out of debt is a learning journey and this is one lesson along the path. You're obviously very upset about these expenses and that is understandable but look on the bright side as well. In the long run you probably added value to your house and made your home somewhere your happy being. And when your spending a lot of time at home because you don't want to spend money going out then you want those four walls to be the happiest place on the planet lol.
Hopefully a good nights sleep and a financial reevaluation will take care of some of your stress. I wouldn't touch the efund to try and pay for this though. You never know what could come up. Anyway, I'm picturing your powder room in my mind and I imagine it is stunning.
You're here for support and that is a great thing, so don't beat yourself up too much. I hang out here just to keep myself in check.
How much money did you win at the casino that you may have put towards your debt (that you wouldn't otherwise have had?)...that could be a positive thing to think about while you sort your finances out.
It takes a lot of work to stay committed and it takes practice.
I would just suggest you really take a hard look at everything you can cut back on (entertainment, etc) to make up for the labour costs of your reno. Someone else will have better advise on budgets and sinking funds.
I started putting 1% away in saving now we are up to 2% of our monthly income
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Hey Buddy, been wondering where you were hiding.
Norma
"Patience is the best remedy for every trouble"- Plautus
Duke, I won't say don't worry about it because you will no matter what :) BUT learn from it.
Is it possible that you were too strict with yourself? Everyone "rebels" at some point or another if they are always saying no.
In terms of efund, do you have one? If not, make that priority number one. In your case it wouldn't have covered everything, but it would have taken the sting off a little bit.
Sinking funds are great things that have saved my backside a few times :) In my case, I started with an ING fund and $20 a paycheck to cover . . .
Bex -
duke-
I've been around this block a time or two! ;c)
1- No regrets. Enjoy the reno!
2- You can't go back, but don't let that stop you from moving forward. You don't learn a lesson without a price, so pay it and move on.
3- This IS progress. You're looking back on it and realizing it might not have been the best (or best thought out) decision at the time. That is proof that you're on your way!
FLINGING DEBT:
It happens to all of us at some point in time Duke.
Stop beating yourself up Duke! Yes, it could have waited, but what's done is done, it isn't like a peice of clothing you can take back. It also was something that added value to your house so that is still a good thing to have done.
Now to pay it off. Make a plan. Cut down wherever possible and stay on track. You'll get it paid off. With your luck you'll win something.
I am in the same rut right now, I want these loans gone, I want a house, and thanks to all of you (yes you Duke) I have backed off that plan for now. I am going to keep trudging along paying what I can.
I can do it and SO CAN YOU!
I am new here and still learning all of the financial lingo, but one thing also is to consider is that in 18 months it would have surely cost you more in materials and in labor costs.
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