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A Fresh Start

December 4th, 2014 at 05:28 pm

I'm going to kind of start this blog over, right where I started it in April 2011. At or near the beginning of each month, I would list my debts. I set different debt reduction goals for myself along the way, and I tried to use this blog to keep myself accountable. My situation isn't nearly as dire as it was four years ago, but that formula seemed to work well.

Last time I reported in the blog, about a month and a half ago, Oct. 24, my credit card balance was $4,361. The current (not really current, I just now made the payment on-line, and it won't post til 5:00, but I'm going with it as current) balance is $4,149. My total debts are (debt, interest rate, balance)

Mortgage 2.25% $40,037
Truck 3.99% $4,568
Credit Card 19.99% $4,149
Total Debt $48,754

My only goal at this point is that I owe less on each account than I did the previous month.

I'm still toying with the idea of transferring that CC debt to a 0.00% intro rate card, but I'm not really sure I want to play that game again.

Last time I blogged, I mentioned a freelance job my DW had. For the first time in about 12 years of serious freelance work, DW has been stiffed for payment - about $2,000. The worst part of it is that she had recruited her sister, and a friend of ours from college to work with her, and they got stiffed too. Live and learn, but really after 12 years, it seems like a pretty good record.

Posted in Debt, Personal Finance, Credit Card Debt | 7 Comments »

7 Responses to “A Fresh Start”

  1. SecretarySaving Says:
    December 4th, 2014 at 06:18 pm 1417717098
    1417717098

    Attack that credit card Bob

  2. snafu Says:
    December 4th, 2014 at 07:54 pm 1417722870
    1417722870

    Sorry wife and those she recruited to help were stiffed. Is there any way they can embarrass the jerk to pay-up? You've phenomenal interest rate on mortgage & truck. I'd recommend the 0% transfer as nearly 20% is higher than your credit score would suggest.

  3. creditcardfree Says:
    December 4th, 2014 at 11:13 pm 1417734803
    1417734803

    Good plan, Bob! I would probably make the credit card the priority. Have a plan to be done with it. Set a deadline, make a plan with how much you need to pay off each month to get it done. But then see what else you can find to put towards that goal!

    So sorry about your wife not getting paid. Is there other recourse?

  4. Bob B. Says:
    December 5th, 2014 at 02:02 pm 1417788176
    1417788176

    Thanks for the comments. Please read this post in the context of my Oct. post. My family is in crisis. My marriage is in crisis. The simple goal of reducing each account's balance is all that I can manage at this point.

    DW and I will begin counseling together again next Thursday.

    Really, thank you for the advice. I know it's coming from the right place. I know the CC is the (financial) priority. At some point "attacking" it will be an option. But, if a month from now the balance is just one dollar less than it is right now, I'll be happy, because I know that's all I can do.

    I'll reset my goals to be more aggressive some time in the future. Just not right now.

  5. PatientSaver Says:
    December 5th, 2014 at 04:38 pm 1417797534
    1417797534

    I once was almost stiffed for actually a very small amount by a husband/wife realtor team, but it still ticked me off just based on principle. They kept putting me off, saying it was in the mail when it wasn't, so i casually mentioned I'd be up their way (an hour's drive i had no intention of making) the following week and I could stop by then to pick it up. When he told me first she wouldn't be in that day, and she didn't know her schedule i just said, fine, just leave it with so and so, your office manager there (all their names/titles are shown on their website).

    They finally paid me becus they didn't want to run the risk of my embarrassing them or complaining to her boss, the office manager. This guy had earlier threatened to sue me and used all sorts of nasty language, all becus I wanted to be paid the $50 he'd agreed on. He finally paid but what a hassle. Some people assume they can get away with nonpayment becus all my work as a freelance writer is done over email and phone; he hadn't realized, when I'd responded to their craig's list ad looking for a writer, that I'd googled and checked to make sure they were who he said they were beforehand.

  6. LivingAlmostLarge Says:
    December 8th, 2014 at 05:56 pm 1418061398
    1418061398

    Good luck and keep moving forward

  7. SecretarySaving Says:
    January 5th, 2015 at 03:18 pm 1420471104
    1420471104

    Hey Bob! Just checking in with you, its been a month since you last posted. I know you were in crisis mode and I was concerned. I hope you and your wife are doing well.

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