HELP!I'm pouring my heart out here, need advice!*Updated 6/12/07*

[bowsi]

Even better, MagicX2 gave them to her dad

Well, I guess she got them back, at least for a little bit. I just noticed that the OP posted a report on the Trip Reports board titled "Lesson Learned (Long)". It detailed the theft of her credit cards and camera during a recent vacation to Myrtle Beach. It's an interesting read.

 

[tlbwriter]

Well, I guess she got them back, at least for a little bit. I just noticed that the OP posted a report on the Trip Reports board titled "Lesson Learned (Long)". It detailed the theft of her credit cards and camera during a recent vacation to Myrtle Beach. It's an interesting read.

The trip in that post took place in July.

 

[jeancbpugh]

Just wondering how it is going for the OP...

 

[WatchinCaptKangaroo]

I was going over my own situation and started thinking about her too.

How are you doing?

 

[MAGICX2]

Hellllllllooooooo Everyone! Things are going great! Have not used on cc since since I went on the spending freeze about 200 reply's ago and man does it feel great!
Cindi0511..You are so right about my papa. He would as soon cut his right hand off then give me one of my cards. The good news is, he gave them all to me to burn in ephagy(sp)! That's right, we burnt them. It was alot of fun. They just kind of melted really, but it was more fun than cutting them up. It was very metaphoric for me. It was like watching all the money I have "burnt up" over the last several yrs go down in flames.
DH and I are doing well. We have paid cash for everything and it is liberating. Since the first payment of the consolidation loan is not due until Dec.21 we have been able to put back three payments! We just found out our mortgage is going down again! and our daycare costs finally dropped because DD was finally moved to toddler room and both are now going part time. I feel like things are finally getting in line and under control. It is getting harder with the Christmas shopping creeping up, but I have a plan in place for that too. Thanks to everyone on this thread for the love, support, and flames. Cindi0511 you have been a rock! and dvcgirl, what can I say . I will keep you posted!

 

[massielovesdisney]

I was in your shoes about four years ago. I finally got fed up and canceled all my CC except my american express it has to be paid in full every month. In an emergency I have back up and then I know to watch my spending so when the statement comes I can cover it. My debt 4 years ago was about $45,000.00 today my CC debt is about $10,000.00 which I expect to have paid off with bonuses and income tax return within the next 8 mo. If your husband travels alot join a hotel point program that will reward him with free hotel nights. That way you can still vacation but cut $1000.-$2000. off the trips. The past two Easter breaks we took our family of 6 to Universal Studios for a week (disney was out of our budget ) and spent less than $1500. for each trip we had to drive the 19hrs from PA instead of flying but we did not have to give up vacations while still reducing our debt. My husband traveled 2-3 weeks of every month and would earn about 3 weeks of free hotel nights a year through priority club rewards a Holiday Inn program.
Also, with all the changes to bankruptcy laws and cc companies raising mo payments and interest alot of people that carry high cc debt will begin losing everything they own. I'm sure you would love a bigger home but maybe a higher power is trying to tell you something? Everything happens or not for a reason. The best thing you can provide for your family is financial stability. Besides it won't kill you to live in a smaller home by the time you put a dent in your debt your kids will be grown and be out of the nest. I hope this helps Best of Luck.

 

[jeancbpugh]

Hellllllllooooooo Everyone! Things are going great! Have not used on cc since since I went on the spending freeze about 200 reply's ago and man does it feel great!

I feel like things are finally getting in line and under control.

I will keep you posted!

That's great! Please do keep us posted.

 

[minnie1928]

Hellllllllooooooo Everyone! Things are going great! Have not used on cc since since I went on the spending freeze about 200 reply's ago and man does it feel great!

It's so great to hear that things are looking up! There have been several threads similar to this one over that past months, but rarely does the OP return to tell us how things are going. By you coming back and giving updates I think it inspires others by showing them it CAN be done! Congratulations and keep up the GREAT work!

 

[disneysteve]

That's great. Glad to hear things are going well. Thanks for posting the update.

 

[ziggystardust]

Congratulations! I know how hard it can be!

 

[Chicago526]

That's great! Way to go! Doesn't it feel great?!


DH and I haven't charged a cent since we came back from the honeymoon, and I just made my first CC payment for the amount we need to pay each month to get it paid off in about 18 months. We've been paying cash for EVERYTHING. We actually usually did pay cash for most things before, but a few things would creep on the cards each month (dinning out here, new shoes from JC Penney's there). It wasn't a large amount, but enough that between the wedding and 3 or 4 other charges each month, it added up. But no more! Even when my car broke earlier this month, we paid cash for the part (DH can fix the car, we saved TONS on labor. Budget tip: Marry a handy man, you'll save thousands! )

Gas prices have droped, that's helped a bit too, but with the price of natural gas and the bad weather we've had the past few days, I'm worried about our N.G. bill. We'll be able to handle it, whatever it is, I just hope it doesn't derail our CC repayment plan. Hopefully not, DH has gotten tons of OT lately (so much that he's working TOO hard, but that's another thread) so even if the heat bill is higher than what I'd budgeted, we should be okay. We'll never be in danger of paying ANY of our bills late or being short of money, I'm just worried our debt repayment will be slowed or even stoped. Won't know until we get that first heat bill, though!

 

[dvcgirl]

Good girl MagicX2! You are on your way to a whole different way of living. I love that you burned up your CC...that's great. Just like a diet, or any other struggle in life, if you have a minor slip-up, don't lose sight of the long-term goal... Wait until all of those payments to the consolidated loan is paid off and that money actually ends up in the *bank*. Keep up the great work!

 

[Lyn5]

 

[MAGICX2]

My car was acting up last week and I dropped it off to get checked out. Turns out I need a WHOLE NEW TRANSMISSION! The place I took it to told me it would be $3500 to replace it! I called the local Ford dealership who wanted $3000. I called my mom and she recommended the repair place that fixes the PD's cruiser's. I called there and mentioned my mom had recommended them and he said it would be about $1500+tax and hard parts. He is an . The only problem is we have our $1000 emergency fund, and the money put back for our new loan payment and we don't want to use either of these. I know, I know, this is what an emergency fund is for. But we feel we should use the one cc we have left to pay for this. DH is getting 1/2 his bonus now and 1/2 in Dec. and we should be able to pay this off with those bonus checks. My dad agrees that this would be an appropriate time to use the cc. But we have to show him the statement where we have paid it with the bonus checks. I think this is this best thing right now. I am so depressed every time I feel like things are looking up and getting under control, BAM a mack truck hits us. I hate being a grown up!

 

[disneysteve]

we feel we should use the one cc we have left to pay for this.

NO WAY!!! As you said, that's what an emergency fund is for. If you are going to keep an emergency fund, but then use your CC when an emergency arises, what's the point?

No new debt. Use the money you've got to fix the car. Then use the bonus checks to replenish your emergency fund.

 

[dvcgirl]

NO WAY!!! As you said, that's what an emergency fund is for. If you are going to keep an emergency fund, but then use your CC when an emergency arises, what's the point?

No new debt. Use the money you've got to fix the car. Then use the bonus checks to replenish your emergency fund.

Agree, 110%. Use that emergency fund Magicx2...and replenish, and build it up higher than $1,000 when you can.

 

[luvthatdisney]

Magic~

I may not be the best to advise you on what to do - as I am a BIG Dave Ramsey follower. We dont do credit of any kind - at least not anymore! We are digging out of a big big hole from situations just like you are in!

I will tell you what I would do if I were in your shoes. I would take the emergency fund - that is what it is for!! and use it. I would then use the 1/2 of your DH's bonus that he is getting now. It will take a few days I would think to fix this or maybe longer so you would not need this money today!

Once your DH gets the rest of this bonus - I would put that back in the emergency fund. This would only be a few weeks away according to your post. I would not use a credit card - thats just my opinion!!

I hate the fact that we relied on cc's so much in the past. Thank goodness we have had an emergency fund to use - for things like this. It really saves you - and it makes me feel good to be able to pay for something in cash. It just gives me a boost knowing I did not have to revert back to my old ways of debt.

I know your father is helping you monitor your credit card use - but if you did not have to use one at all how would you feel? Actually you could have gotten this done without even involving your dad. You said its hard growing up and this could be a time to stand on your own two feet and show your Dad what you can do (without credit!)

Just my $0.02 - I know people will bash what I said - but thats ok - I know I have to live with my actions and we no longer do credit (it has been hard, but we are making it just fine without them!)

 

[ziggystardust]

use the emergency fund!!!!

Like you said, there is a reason that its there. It would be pointless to put the repair on your CC, you will end up starting the spiral up again. Before you know it, you'll be charging everything again.

It is not a set back, b/c you planned for it. You planned your emergency fund, use it!!

 

[SleepyatDVC]

So, sorry about the setback! I've been tracking your progress from the beginning and know it's discouraging when you've been doing so well.

I agree with the others about using the emergency fund. HOWEVER, if it were me, I would use the cc (assuming the cc has a $0 balance) to pay and then pay it all off with the emergency fund $ when the bill comes. Then replenish the emergency fund with the bonuses, etc.

If you stil have a balance on the cc, I would absolutely NOT use it for the car repairs. It will snow ball sooooo easily especially with the holidays coming up.

Your cc will still be there if a true emergency comes up and your cash emergency fund has been depleted. Don't pay any more interest than you already have to.

Good luck!

 

[maggiew]

Don't use the credit card!!! It will just start you on the downward spiral again.

Maggie