Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
A goal I didn't really have yet here it is... a $100,000 swing in net worth in four and a half years.
At the end of 2009, I had cash and savings of $5,350, with total debt being $65,600. The savings was all in a 401-K.
On May 31, 2014, I had cash and savings of $40,453, with total debt being $267.
So, my net worth in 2009 had a negative balance of $60,250.
In 2014 this net worth grew to a positive balance of $40,186
The change in value, just under 4 and a half years is $100,436.
**********************************************************
While I have lived very frugally to get to this point, I still have enjoyed life. This winter will mark my fifth year in a row of being in England for Christmas and New Year's.
I started 2014 with a new mattress. And I treated myself to an educational class to learn how to play a Native American Flute.
2013, I received major work on my teeth. A couple of fillings, two crowns, and a lower partial plate and on the 28th of May, the final work will be done with another crown and a couple of more fillings.
New glasses in 2011 and 2013.
All this paid for with cash... no lingering debt hanging over my head. It can be done. Patience and goals will give wonderful rewards.
What I am so grateful for is the way my attitude towards money and possessions has changed. It is such a freeing experience to have funds for things I need, I really have no wants at my age that's just childish.
I now have 18 months of expenses set as an emergency fund.... enough funds to keep my website going for ten years... and right now working on my winter getaway funds, which is just under $5,000
It is very rewarding to look at money as an object I want to work for me, instead of me working for it...
At the end of 2009, I had cash and savings of $5,350, with total debt being $65,600. The savings was all in a 401-K.
On May 31, 2014, I had cash and savings of $40,453, with total debt being $267.
So, my net worth in 2009 had a negative balance of $60,250.
In 2014 this net worth grew to a positive balance of $40,186
The change in value, just under 4 and a half years is $100,436.
**********************************************************
While I have lived very frugally to get to this point, I still have enjoyed life. This winter will mark my fifth year in a row of being in England for Christmas and New Year's.
I started 2014 with a new mattress. And I treated myself to an educational class to learn how to play a Native American Flute.
2013, I received major work on my teeth. A couple of fillings, two crowns, and a lower partial plate and on the 28th of May, the final work will be done with another crown and a couple of more fillings.
New glasses in 2011 and 2013.
All this paid for with cash... no lingering debt hanging over my head. It can be done. Patience and goals will give wonderful rewards.
What I am so grateful for is the way my attitude towards money and possessions has changed. It is such a freeing experience to have funds for things I need, I really have no wants at my age that's just childish.
I now have 18 months of expenses set as an emergency fund.... enough funds to keep my website going for ten years... and right now working on my winter getaway funds, which is just under $5,000
It is very rewarding to look at money as an object I want to work for me, instead of me working for it...
-
I invited Bill to have dinner with me last Sunday. He wasn't willing to drive 7 hours to mid Michigan and teased me with his beautiful ribs!!! So, of course I ate alone and had cedar salmon
-
check out that smoke ring. It tasted really good. I smothered it with Maulls BBQ sauce which is Local to St. Louis and one of the best I ever had.....
I find it difficult because when I was in debt I didn't put my needs first and was too keen to pay back the debt. I had to rely on bailouts by Gran.
Now things aren't as insane. My expenses are lower now. However underearning is still a major issue.
I had a three car garage, stuffed with tools, TV sets, stereos, all purchased on credit, then when something new came out I had to have it. I once had a 14 piece stereo... pre-amps, power amps, two turntables, stereo cassette deck and a reel to reel player... and I could make you believe I really needed it all.
When I got out of debt... my "needs" were forced to be ZERO. Food, shelter, heat and cool... that is it. Yes, I kept the internet because I do make some money from it.
It was time for me to put on my "big boy" pants and act like an adult. I spent years spending money on "things." This was the first time I spent money on me.
And yes, spending money on old debts was spending money on me. It gave me a stress free life and peace of mind... and that is priceless...
But here I struggle with stuff....I want stuff...I have debt and am willing to pay where I owe....I just sent a bill collector a $20 check for the ER visit Feb 3rd....it is over $1200 bill...I plan to make more payments....on all the medical bills which are over $50K now....since Medicaid has now bailed out on me it is either pay them or go bankrupt 2nd time....not wanting to go bankrupt at all...think it is pride there,....
Reread what you wrote... and read it again... and again... and again... just keep reading it.
I'm speaking as one alcoholic to another... do you see the insanity in all of this? You owe $1,200 to ER... you charge another $205... and make a payment of $20? You make a payment and go from $1,200 in debt to $1,395 in debt...
"Stuff" has become god... first it was alcohol, now it is stuff... none of it is healthy...
Reread it... and read it again and again
In my thoughts and prayers,
Dave