Debt Advice Desperately Needed....Please!

[mafibisha]

FWIW just saw this from financial guru Dave Ramsey. I know many of you are huge fans (we're not really followed him - yet) so thought I'd throw this in - FWIW.




Dave's Thoughts On Vacations
Dave's Thoughts On Vacations

This month, one of Dave's radio show listeners emailed to get some advice:

We have a few thousand saved up for a trip this summer as a way to reward ourselves for working so diligently on our debt snowball lately. We deserve a break! Should we go? Is now the best time?

What did Dave say?

Waaaahhhh! I didn’t go on vacation for two years while I was cleaning up my mess. Listen, your life has been a trip to the beach. Now it’s time to clean up your mess! I’m not saying that you should never go on a vacation. Just don’t go when you’re $20,000 in debt! Suck it up and live like no one else now so later you can live like no one else. That’s what I did. Now I can go to the beach any time I want! You’ve got to break this cycle in your head that you deserve stuff. None of us deserve squat. Listen to the radio show clip here.

Traveling somewhere for a vacation is a luxury, not a necessity. We must remember that. So many people don’t understand the difference. And whoever said you have to travel and spend lots of money on a vacation? Ever heard of a “staycation”? It’s a vacation from everyday life where you stay close to home—what a novel idea! You can be a hometown tourist, spend extra quality time with your family, and forget about work for a while. If you’re still working on your debt snowball, this is the way to go.

If you’re out of debt, have the money saved, and have planned your vacation, by all means, go! Go now while the sale light is on! You’ve sacrificed, and your hard work and dedication have literally paid off. Let me remind you that everything is on sale big time! And if you pay with cash, you’re more likely to get even greater deals!

Don’t fall for the line that the economy will slump if you don’t do your part by traveling this summer. That is completely absurd. The economy will continue to improve regardless of how you choose to spend a few days off. Once again, you have to be a mature adult and do what’s best for you.

Whether you’re going on a Mediterranean cruise or grilling out at the neighborhood park, you can have an absolute blast on vacation this summer. It’s all about your attitude and staying within your budget. Don’t be like the family below who lets their vacation follow them home!


http://www.daveramsey.com/etc/newsletters/company/052909.cfm?ectid=cnl0906.1_06#1

 

[friskykitten]

I will be checking out Dave Ramsey's book when it becomes available at our library. It is checked out right now so I am placing a hold on it.

 

[mmeb144]

The library is a good place to go when you need entertainment. You already pay for it with your taxes, might as well use it. Did you know that you can borrow movies there, too?

 

[CC12005]

To the OP, I know earlier you said you didn't want to look into consumer credit counseling, but it may be wise at this point. I am not too familiar with it but a recent article in Kiplinger's magazine profiled a woman who was able to lower her minimum monthly payments on her cards from over $1200 a month to about $350 I believe. Good luck & keep us updated.

 

[chyam]

I have only read about 5 pages of this post so excuse me if this has been mentioned.
As other have said dump the DVC. Either contact your CC companies and ask for a reduction in minimums if at all possible and explain the circumstance, I doubt that they will help you though, and lets face it if you end up at Consumer Consuling or Bankruptcy your credit is going to be trashed anyways, so I guess I would just say quit paying them, any which way they are not going to be able to get the money out of you. You need every dime that you have to support your household, food, utilities, etc.
You also mentioned a 401K you are able to cash that out (with a penalty of course) under certain circumstances, I would check into that...it would mean starting over, but it sure beats living on the streets or losing your home!
You can also call your local humane societies, many of them now have pet food banks, mainly because they were taking in so many animals because people were in the same situation as yourself, and it is cheaper for them to help you out to keep them in your home.
Your daughter needs to find a part time job, and nothing should be beneath her, even if it is only 10-20 hours a week! Every dime should be used to keep the whole family afloat, she is old enough that she should understand the situation in your home!
Secondly if you can at least manage for awhile I would consider trying to get out of your home and moving somewhere closer to where your husband is now working if that looks like it will last for awhile....he is spending way to much time on the road to go to work for a lower rate of pay, think of the wear and tear on the car, and the gas and what would happen if the car breaks down, where is the money going to come from to fix it, which could result in him not being able to get to work.
As far as bankruptcy, people will tell you that you shouldn't "stick" your creditors and that we all end up paying for it in the end, but quite honestly none of us ever thought the economy would get this bad and it is through no fault of our own that so many of us are losing our jobs.
Also although you are a trained acct. start checking out the nursing homes, hospitals etc. if they are hiring there is usually never layoffs in those fields, even if it means housekeeping or the kitchen.
I wish you luck but you also have to be willing to make the sacrifices of doing just about anything.

 

[Kickapoo Joie Juice]

I have only read about 5 pages of this post so excuse me if this has been mentioned.
As other have said dump the DVC. Either contact your CC companies and ask for a reduction in minimums if at all possible and explain the circumstance, I doubt that they will help you though, and lets face it if you end up at Consumer Consuling or Bankruptcy your credit is going to be trashed anyways, so I guess I would just say quit paying them, any which way they are not going to be able to get the money out of you. You need every dime that you have to support your household, food, utilities, etc.
You also mentioned a 401K you are able to cash that out (with a penalty of course) under certain circumstances, I would check into that...it would mean starting over, but it sure beats living on the streets or losing your home!
You can also call your local humane societies, many of them now have pet food banks, mainly because they were taking in so many animals because people were in the same situation as yourself, and it is cheaper for them to help you out to keep them in your home.
Your daughter needs to find a part time job, and nothing should be beneath her, even if it is only 10-20 hours a week! Every dime should be used to keep the whole family afloat, she is old enough that she should understand the situation in your home!
Secondly if you can at least manage for awhile I would consider trying to get out of your home and moving somewhere closer to where your husband is now working if that looks like it will last for awhile....he is spending way to much time on the road to go to work for a lower rate of pay, think of the wear and tear on the car, and the gas and what would happen if the car breaks down, where is the money going to come from to fix it, which could result in him not being able to get to work.
As far as bankruptcy, people will tell you that you shouldn't "stick" your creditors and that we all end up paying for it in the end, but quite honestly none of us ever thought the economy would get this bad and it is through no fault of our own that so many of us are losing our jobs.
Also although you are a trained acct. start checking out the nursing homes, hospitals etc. if they are hiring there is usually never layoffs in those fields, even if it means housekeeping or the kitchen.
I wish you luck but you also have to be willing to make the sacrifices of doing just about anything.

Um, yeah, honey, it's been mentioned. Thanks for sharing.

 

[Debbie Jean]

Um, yeah, honey, it's been mentioned. Thanks for sharing.

and I'll follow up by reposting my rant from 2 pages back:


This is my own personal rant:

I cringe every time someone posts "I didn't read the whole thread but..." People who can't be bothered taking the time to read what others have already posted yet think it is important that others read what THEY want to post... YIKES!

When someone is in a personal crisis situation and asking for advice, may I suggest that before you decide to give your opinion, you actually take the time to thoroughly read and digest what has already been written? Don't tell me it's because you don't have the time. If you have the time to post, you have the time to read!! More to the point, your opinion is not more important than others and you may very well miss critical information.

BTW, that's why the "telephone game" works so well.. people don't bother to pay attention to everything that is being said and ask for clarification when there is a possibility of misunderstanding

Rant done.

 

[sorul82?]

Um, yeah, honey, it's been mentioned. Thanks for sharing.

and I'll follow up by reposting my rant from 2 pages back:


This is my own personal rant:

I cringe every time someone posts "I didn't read the whole thread but..." People who can't be bothered taking the time to read what others have already posted yet think it is important that others read what THEY want to post... YIKES!

When someone is in a personal crisis situation and asking for advice, may I suggest that before you decide to give your opinion, you actually take the time to thoroughly read and digest what has already been written? Don't tell me it's because you don't have the time. If you have the time to post, you have the time to read!! More to the point, your opinion is not more important than others and you may very well miss critical information.

BTW, that's why the "telephone game" works so well.. people don't bother to pay attention to everything that is being said and ask for clarification when there is a possibility of misunderstanding

Rant done.

 

[Kickapoo Joie Juice]

and I'll follow up by reposting my rant from 2 pages back:


This is my own personal rant:

I cringe every time someone posts "I didn't read the whole thread but..." People who can't be bothered taking the time to read what others have already posted yet think it is important that others read what THEY want to post... YIKES!

When someone is in a personal crisis situation and asking for advice, may I suggest that before you decide to give your opinion, you actually take the time to thoroughly read and digest what has already been written? Don't tell me it's because you don't have the time. If you have the time to post, you have the time to read!! More to the point, your opinion is not more important than others and you may very well miss critical information.

BTW, that's why the "telephone game" works so well.. people don't bother to pay attention to everything that is being said and ask for clarification when there is a possibility of misunderstanding

Rant done.

Hey Debbie, I just started a whole thread about people who don't read posts before they post-it's over on the community board .

http://www.disboards.com/showthread.php?t=2189706

 

[Debbie Jean]

Hey Debbie, I just started a whole thread about people who don't read posts before they post-it's over on the community board .

http://www.disboards.com/showthread.php?t=2189706

Oh, thank you! I needed that!

 

[chyam]

GEEZ guys I am so sorry I did not read 24 pages of previous posts, I had read 5 pages last night. And I am so sorry I wasted your time by posting anything at all....but I work and do not have hours to read on the computer as perhaps you do....what you posted wasn't even called for, and I am sorry you had to read something that had been posted before.....excuse me for living or for even caring.....and now I know why I spend less and less time on this board.....instead of just reading past my error you chose to make ME look like a fool....believe me it will never ever happen again.....if I don't have hours to read 24 pages on here then I will not post a damn thing!
I hope you all have a nice day and continue on with finding fault with anyone who isn't up to your greatness!

 

[Kathy C]

Just remember people---THOSE IN GLASS HOUSES SHOULD NOT THROW STONES!!!!

Life happens to all of us at one point or another. Don't throw stones.

My good friend just buried her oldest son, killed Easter morning, second oldest was in intensive care for quite awhile and will spend the next year or more recovering from extensive injuries... kid that was driving was giving his alcoholic mother money each month for car insurance, and his mother spent his $$$ on booze and never paid the premium for insurance. The kid killed his best friend and severely injured best friend's brother, and my friend is left to foot the bill. No life insurance or car insurance, hospital bills, funeral expenses, her time off work to take care of the injured son....three children left at home..... This is likely going to bankrupt them, and ruin the life of the kid driving. He was not drunk but was being responsible and driving the other two home that were drunk. LIFE HAPPENS PEOPLE. It happens quickly and most times not quietly. You do the best you can with what you have.

Don't throw stones. You may be next.

AMEN! What a true statement! OP's made mistakes - none of us are perfect. I don't see myself ever being in her position but quite honestly one never knows what tomorrow brings. Best of luck to you on working through this.

 

[wall*e2008]

GEEZ guys I am so sorry I did not read 24 pages of previous posts, I had read 5 pages last night. And I am so sorry I wasted your time by posting anything at all....but I work and do not have hours to read on the computer as perhaps you do....what you posted wasn't even called for, and I am sorry you had to read something that had been posted before.....excuse me for living or for even caring.....and now I know why I spend less and less time on this board.....instead of just reading past my error you chose to make ME look like a fool....believe me it will never ever happen again.....if I don't have hours to read 24 pages on here then I will not post a damn thing!
I hope you all have a nice day and continue on with finding fault with anyone who isn't up to your greatness!

I saw nothing wrong with you posting what you did. Ignore those who could not just skip your post if it bothered them so much.

 

[friskykitten]

GEEZ guys I am so sorry I did not read 24 pages of previous posts, I had read 5 pages last night. And I am so sorry I wasted your time by posting anything at all....but I work and do not have hours to read on the computer as perhaps you do....what you posted wasn't even called for, and I am sorry you had to read something that had been posted before.....excuse me for living or for even caring.....and now I know why I spend less and less time on this board.....instead of just reading past my error you chose to make ME look like a fool....believe me it will never ever happen again.....if I don't have hours to read 24 pages on here then I will not post a damn thing!
I hope you all have a nice day and continue on with finding fault with anyone who isn't up to your greatness!

Chyam, I am reading and taking into consideration everything that anyone posts. The good, the bad & the ugly. And please understand that in 24 pages there has been posts that have ranged from the sweet and suportive to the middle of the road to harsh but true. And there are even some that have been somewhat ficticious. (Did I spell that right?) Once these things get heated it can be hard to keep them fair.

I envy you your job. When I was working there was no way I could have read 24 pages and posted something that hadn't been already said. Not to mention our IT department wouldn't allow us access to the DIS from work computers. It has only been since I lost my job that I have been able to be here more often. So we do understand your position of not always having the time to read it all.

I can't speak for others but I think that instead of being bothered that someone may have posted the same opinion it can be more bothersome to tell someone (like me for instance) to do something that I have already stated that I am doing or will be doing. Again, this is not directed at you or anyone in particular. Just an observation. For example, I started out saying that I didn't want to sell my DVC. After almost everyone agreed that I would be a fool to NOT sell it, I finally came to my senses and put it on the market. After I posted that I had done so I still got several people telling me how stupid I was to not sell it. Yet I had already told everyone that it was listed. That continued on for a while so you can perhaps see why that was a bit hard to take.

I don't think I am expressing this right so I apologize. I just know that enough feelings have been hurt on this thread and I really don't want anyone to feel that their advice isn't being appreciated and looked into. As you know there is no amount of greatness in me, except in the eyes of my youngest child. The older ones learned long ago that they are smarter than I am!