I've gotten a bunch of stuff done these past few weekends, a bunch of the little things that have been on my to do list for ages. I got a bunch of yard work done, did a huge possession/de-cluttering purge after reading a couple of articles and posts on Gail Blanke. Since I was long overdue for a de-cluttering, I figured "Why Not?" and purged about 70 items (and still purging). The sad part is I've been hanging on to items that have very little sentimental value for me or even less monetary value (ie-they sure won't sell on E-bay or at a garage sale!). I took the "better items" and brought them to Goodwill. I threw out a lot of junk and clothes. The really sad part is that I hung on to these items for years. I moved back to New England 9 years ago and I had boxed up a lot of my possessions. I was "camping out" in a friends spare room for a couple months until I got my own space and guess what, I never unpacked a bunch of boxes.
Yup, that's right folks, I have a pile of unopened boxes from a move of 9 years ago. Needless to say, it was interesting to look into those boxes after all these years. I consolidated 7 Rubbermaid totes into 3. The remaining three are a box of photos and some old memoriablia from my youth that I can't part with, a box of books that should be purged, but can't part with yet, and the last box actually some things I found that can be used in my daily life.
I also spent a boat load of money last month, not just on bills, but on needs and a lot of wants. More on that in another post. I love the way I justified to myself the spending splurge-it was not pretty....
Needless to say, I am very happy it's a new month. I need a new month and a "clean slate" to kick start myself.
Hope you had a great weekend.
Showing posts with label needs and wants. Show all posts
Showing posts with label needs and wants. Show all posts
Monday, June 1, 2009
Sunday, April 19, 2009
A New Credit Card is NOT an E-fund
But regretfully, my neighbors think it is. My lovely neighbors have been having issues and some money problems this past year. I'm getting concerned about the money problems. So many red flags are being tossed up it's scary!
At a holiday party, one of them won a home theater surround sound system. A very nice one I might add. They have an older TV and have said that they wanted to replace it. Two weeks ago they got a delivery of a 40 or 42" Sony Flat Screen Plasma TV. I was given their old surround sound system (still not installed, I need a new set of wires to connect to the TV). I offered to give them some money for it and they said no.
Fast forward to Wednesday night. I stop over to drop off a six pack and some of their mail that ended up in my mail box. The six pack was a thank you for the surround sound and in my mail was a disconnect notice from the local electric company for either this house or the apartment they are footing the bills for for their oldest daughter. Our local electric company sends out envelopes with a large IMPORTANT NOTICE on the front so you won't miss the disconnect notice.
We get to talking since I've not seen them for a few days. Here is the very scary part. My neighbor tells me that she owes $900 to the IRS and she is paying it by credit card. And she then tells me it's great timing that they got this new credit card since they have no money set aside to pay the IRS. She also tells me they put the new Plasma Flat Screen on the credit card as well and she will go to the bank, get a cash advance and pay the overdue electric bill, plus a few others.
Seems my neighbors got a new credit card about a month ago and have been having a grand time using the card. Hence the new TV. I was caught speechless. It's pretty hard to leave me speechless, but I was.
A couple things bother me
1) My neighbors husband has been running his own business for a number of years, they don't pay quarterly taxes, so each year at tax time they know they owe money and each year they put it on a credit card. They do no planning during the year to save for the payments or make any kind of estimated payments each quarter. They asked me what I did about my part time cash jobs I declare and I told them that I set aside a portion of money each quarter and pay estimated taxes so I'm not caught totally out come tax time.
2) Their oldest daughter is going to college and has moved out of the house to her own apartment. Her parents, my neighbors, not only help pay tuition, but have also picked up a large majority of the apartment expenses BECAUSE oldest child is either unwilling or unable to work more hours or get a cheaper place. My take is she is unwilling to work more hours or get a better paying job because it is easier for mummy and daddy to pay the bills. Like most 19 or 20 year olds, she would rather hang out with her unemployed boyfriend and listen to music. I see her at the house a lot eating meals,doing her laundry and oh, yeah, leaving the electric heat on 70F when she's not home.
3) My neighbors have been thinking about a new TV for a few months. I can attest to the fact that their old TV was starting to die. It may be time for a new one, but a new 40 or 42 inch plasma bought on credit?
4) They have no savings account and have already maxed out a HELOC and another credit card. They now consider this Credit Card their savings account.
I'm sure there is more I can add to the list.
I know how we all choose to spend our money is our own business, that's what makes personal finance personal. BUT it is distressing to see the above. Especially since I've had frank discussions about my own finances with my neighbors. My neighbors wife has asked me on a number of occasions what I'm doing with my money and budgets post Bankruptcy and I've told her that pretty much I live a cash only life and budget/plan for my expenses. Like my March trip, which was all in cash, save for a limited amount of items I put on my credit card, but them promptly paid off within three weeks of returning home. My new TV was paid for in cash once I saved up the funds and I set a price limit. I will have the money by the end of next week to FINALLY purchase a new lap top, again with cash.
The very scary part is even with the best of intentions, I know my neighbor won't stop buying things with the new card. I've seen them burn through a $20,000 HELOC and for what ever reason, they have a really hard time saying No to their kids and seem to be constantly forking over cash or buying items for both girls. All I can say is a new credit card is not an E-fund.
At a holiday party, one of them won a home theater surround sound system. A very nice one I might add. They have an older TV and have said that they wanted to replace it. Two weeks ago they got a delivery of a 40 or 42" Sony Flat Screen Plasma TV. I was given their old surround sound system (still not installed, I need a new set of wires to connect to the TV). I offered to give them some money for it and they said no.
Fast forward to Wednesday night. I stop over to drop off a six pack and some of their mail that ended up in my mail box. The six pack was a thank you for the surround sound and in my mail was a disconnect notice from the local electric company for either this house or the apartment they are footing the bills for for their oldest daughter. Our local electric company sends out envelopes with a large IMPORTANT NOTICE on the front so you won't miss the disconnect notice.
We get to talking since I've not seen them for a few days. Here is the very scary part. My neighbor tells me that she owes $900 to the IRS and she is paying it by credit card. And she then tells me it's great timing that they got this new credit card since they have no money set aside to pay the IRS. She also tells me they put the new Plasma Flat Screen on the credit card as well and she will go to the bank, get a cash advance and pay the overdue electric bill, plus a few others.
Seems my neighbors got a new credit card about a month ago and have been having a grand time using the card. Hence the new TV. I was caught speechless. It's pretty hard to leave me speechless, but I was.
A couple things bother me
1) My neighbors husband has been running his own business for a number of years, they don't pay quarterly taxes, so each year at tax time they know they owe money and each year they put it on a credit card. They do no planning during the year to save for the payments or make any kind of estimated payments each quarter. They asked me what I did about my part time cash jobs I declare and I told them that I set aside a portion of money each quarter and pay estimated taxes so I'm not caught totally out come tax time.
2) Their oldest daughter is going to college and has moved out of the house to her own apartment. Her parents, my neighbors, not only help pay tuition, but have also picked up a large majority of the apartment expenses BECAUSE oldest child is either unwilling or unable to work more hours or get a cheaper place. My take is she is unwilling to work more hours or get a better paying job because it is easier for mummy and daddy to pay the bills. Like most 19 or 20 year olds, she would rather hang out with her unemployed boyfriend and listen to music. I see her at the house a lot eating meals,doing her laundry and oh, yeah, leaving the electric heat on 70F when she's not home.
3) My neighbors have been thinking about a new TV for a few months. I can attest to the fact that their old TV was starting to die. It may be time for a new one, but a new 40 or 42 inch plasma bought on credit?
4) They have no savings account and have already maxed out a HELOC and another credit card. They now consider this Credit Card their savings account.
I'm sure there is more I can add to the list.
I know how we all choose to spend our money is our own business, that's what makes personal finance personal. BUT it is distressing to see the above. Especially since I've had frank discussions about my own finances with my neighbors. My neighbors wife has asked me on a number of occasions what I'm doing with my money and budgets post Bankruptcy and I've told her that pretty much I live a cash only life and budget/plan for my expenses. Like my March trip, which was all in cash, save for a limited amount of items I put on my credit card, but them promptly paid off within three weeks of returning home. My new TV was paid for in cash once I saved up the funds and I set a price limit. I will have the money by the end of next week to FINALLY purchase a new lap top, again with cash.
The very scary part is even with the best of intentions, I know my neighbor won't stop buying things with the new card. I've seen them burn through a $20,000 HELOC and for what ever reason, they have a really hard time saying No to their kids and seem to be constantly forking over cash or buying items for both girls. All I can say is a new credit card is not an E-fund.
Monday, December 29, 2008
Needs, Wants, and The Safe Zone for 2009
I was digging through my computer the other day and found this post. I don't think I ever posted it, but if I did, here's a repeat with some changes. I think what I wrote in June is very appropriate this December day.
I posted one time that I need a nemesis. Actually, I need some goals to strive for that will challenge me AND give me some satisfaction. Right now I feel like I'm sort of going on auto pilot and in Safe Mode. I'm making some progress, but honestly, I don't feel like I have any goals that really motivate me to make me make drastic changes to my life. The odd situation with my full time job bothers me, but not enough to motivate me to make a change. This is the time of the year when people set goals, make New Year's Resolutions, they formulate SMART plans, they formulate KISS plans. They at least make plans. I am (at the time of this writing) struggling with a needs/wants and goals list for 2009.
I've been using these past couple days to look at my true needs and wants. I have very few needs at the moment that are not met. I have several wants, but they are not big ones and I can live without most of them. I have work that pays my expenses and gives me some extra money. I have very few wants that really drive me out of my Safe Zone. I am not bouncing back as much as I think I can or should be. I should be doing more with my life and my skills.
After my discharge, my biggest want was trying to find a way to get a new to me car. It ended up being easier than, and not as, humiliating as I thought it could be. I am paying a double digit interest rate due to the bankruptcy, but I have a manageable car note and more importantly, a reliable car that works. I've been slowly working on my Emergency fund goal of $2,000. I've been close to that goal of $2,00 a few times this year, but have dipped into the fund for true emergencies and some not so true emergencies. Probably the biggest motivation I have righ now is to fully fund the Emergency Fund account.
Honestly, being in Safe Mode is very comforting. I'm not taking chances, I'm coasting and it's safe. After spending most of 2007 and part of 2008 stressing over the Bankruptcy (pre, post and during), I LIKE the Safe Mode. Safe Mode is not going to make me a better person, Safe Mode is not going to challenge me to be a better person post bankruptcy, Safe Mode is not going to let me grow. BUT IT'S SAFE.
I think a lot of people who are post Bankruptcy like the Safe Mode. Let's face it, the phone is not ringing night and day with collection agencies and credit card companies looking for you, the mail is not full of dunning letters and final demands, hopefully you still have your home. There is some semblance of peace and quiet and that is safe and comforting, but this needs to change so I can bounce back even more.
I am in Safe Mode and I need to be out of it. I don't want to be in Crisis Mode, I want to be in Positive Action Mode. I am working, no struggling with a new needs and wants list. I need a new baseline to work off of and from to get out of Safe Mode and into Postive Action Mode
So, what's next? I need to sit down this weekend and look at where I've been and where I want to go. I need to look at that list of needs and wants and find what can re-motivate me to tackle the list head on and make 2009 a much better year than 2008.
I posted one time that I need a nemesis. Actually, I need some goals to strive for that will challenge me AND give me some satisfaction. Right now I feel like I'm sort of going on auto pilot and in Safe Mode. I'm making some progress, but honestly, I don't feel like I have any goals that really motivate me to make me make drastic changes to my life. The odd situation with my full time job bothers me, but not enough to motivate me to make a change. This is the time of the year when people set goals, make New Year's Resolutions, they formulate SMART plans, they formulate KISS plans. They at least make plans. I am (at the time of this writing) struggling with a needs/wants and goals list for 2009.
I've been using these past couple days to look at my true needs and wants. I have very few needs at the moment that are not met. I have several wants, but they are not big ones and I can live without most of them. I have work that pays my expenses and gives me some extra money. I have very few wants that really drive me out of my Safe Zone. I am not bouncing back as much as I think I can or should be. I should be doing more with my life and my skills.
After my discharge, my biggest want was trying to find a way to get a new to me car. It ended up being easier than, and not as, humiliating as I thought it could be. I am paying a double digit interest rate due to the bankruptcy, but I have a manageable car note and more importantly, a reliable car that works. I've been slowly working on my Emergency fund goal of $2,000. I've been close to that goal of $2,00 a few times this year, but have dipped into the fund for true emergencies and some not so true emergencies. Probably the biggest motivation I have righ now is to fully fund the Emergency Fund account.
Honestly, being in Safe Mode is very comforting. I'm not taking chances, I'm coasting and it's safe. After spending most of 2007 and part of 2008 stressing over the Bankruptcy (pre, post and during), I LIKE the Safe Mode. Safe Mode is not going to make me a better person, Safe Mode is not going to challenge me to be a better person post bankruptcy, Safe Mode is not going to let me grow. BUT IT'S SAFE.
I think a lot of people who are post Bankruptcy like the Safe Mode. Let's face it, the phone is not ringing night and day with collection agencies and credit card companies looking for you, the mail is not full of dunning letters and final demands, hopefully you still have your home. There is some semblance of peace and quiet and that is safe and comforting, but this needs to change so I can bounce back even more.
I am in Safe Mode and I need to be out of it. I don't want to be in Crisis Mode, I want to be in Positive Action Mode. I am working, no struggling with a new needs and wants list. I need a new baseline to work off of and from to get out of Safe Mode and into Postive Action Mode
So, what's next? I need to sit down this weekend and look at where I've been and where I want to go. I need to look at that list of needs and wants and find what can re-motivate me to tackle the list head on and make 2009 a much better year than 2008.
Wednesday, August 27, 2008
Needs and Wants-August 2008 Part 1
I'm putting a lot of thought into a needs and wants list. I've done that before on this blog (need a new car-got it, want a new tv-got it), it helps me plan out what I'm doing with my life and finances, so I don't flounder about.
I do need to do some work at my house. I'm planning on putting another roll or two of insulation up in my crawl space. I just need to find a weekend when I'll be home, it won't be 85 degrees plus outside (and baking up in the attic crawl space). My attic crawl space, is just that, a crawl space. Good thing I am short. This is a project I can do without help, but an extra set of hands might be nice.
I do want to go up into the attic for a "look see". When I went away to Canada last month, I came home to a water stain on the bedroom ceiling. Granted we did have repeated torrential downpours and I think I know what happened. I have a roof vent that leaks. I had my roof re-shingled about 5 years ago, and since then, I've had nothing but trouble with that vent. Of course, I can't get anyone to come over when it's raining to look at the problem and my roofer and I have not been able to repeat the problem with a hose. When it rains and the rain comes in sideways, it fills up part of the vent (that is not supposed to let in rain, just air) and the only place it can drain is into the attic. The water drips down one of the rafters and then ends up staining the ceiling. Well, that is what I hope has happened. I have to go up into the crawl space and take a good look and make sure that is what happened and not something else.
It's times like this I wished I lived with someone or at least had a handy person in my life.
.
I do need to do some work at my house. I'm planning on putting another roll or two of insulation up in my crawl space. I just need to find a weekend when I'll be home, it won't be 85 degrees plus outside (and baking up in the attic crawl space). My attic crawl space, is just that, a crawl space. Good thing I am short. This is a project I can do without help, but an extra set of hands might be nice.
I do want to go up into the attic for a "look see". When I went away to Canada last month, I came home to a water stain on the bedroom ceiling. Granted we did have repeated torrential downpours and I think I know what happened. I have a roof vent that leaks. I had my roof re-shingled about 5 years ago, and since then, I've had nothing but trouble with that vent. Of course, I can't get anyone to come over when it's raining to look at the problem and my roofer and I have not been able to repeat the problem with a hose. When it rains and the rain comes in sideways, it fills up part of the vent (that is not supposed to let in rain, just air) and the only place it can drain is into the attic. The water drips down one of the rafters and then ends up staining the ceiling. Well, that is what I hope has happened. I have to go up into the crawl space and take a good look and make sure that is what happened and not something else.
It's times like this I wished I lived with someone or at least had a handy person in my life.
.
Monday, January 28, 2008
Needs and Wants-Winter List
We all have needs and wants, and one thing I did this weekend when I did my budget was think about my needs and wants. In general, I really don't need or want that much, but there are a few things. I'm putting my list out there, I will be doing my best to budget for the needs and wants and will search Craig's list and freecycle!
Needs
1) A new to me car (yes I covet the Ford Escape in 4WD with sunroof or the Toyota Highlander in 4WD with sunroof and both with working A/C!)
2) Slippers (i just trash my slippers during the winter.)
3) Two new pairs of pants (something in the wash stained my two pairs of good khaki colored work pants, and did not find anything worth getting at my two favorite consignment shops).
4) A second paying job to help pay for Item #1.
Wants:
1) New bamboo floors in the house to replace ratty old linoleum.
2) New DVD player (might be able to find one on sale).
3) New toaster oven.
4) New set of high thread count sheets.
5) New food cupboard ( kitchen island or jelly cupboard). My current "cabinet" is literally falling apart.
6) Some lovely bottles of wine or champagne.-You can never have enough vino!
7) Complete series of Ab Fab and Chef!
Needs
1) A new to me car (yes I covet the Ford Escape in 4WD with sunroof or the Toyota Highlander in 4WD with sunroof and both with working A/C!)
2) Slippers (i just trash my slippers during the winter.)
3) Two new pairs of pants (something in the wash stained my two pairs of good khaki colored work pants, and did not find anything worth getting at my two favorite consignment shops).
4) A second paying job to help pay for Item #1.
Wants:
1) New bamboo floors in the house to replace ratty old linoleum.
2) New DVD player (might be able to find one on sale).
3) New toaster oven.
4) New set of high thread count sheets.
5) New food cupboard ( kitchen island or jelly cupboard). My current "cabinet" is literally falling apart.
6) Some lovely bottles of wine or champagne.-You can never have enough vino!
7) Complete series of Ab Fab and Chef!
Wednesday, August 22, 2007
Needs and Wants
I decided to post a Needs and Wants Post. I've spent half the evening trying to get online and to do some work/research. My computer and internet service provider are at odds with each other-again. As I work through this bankruptcy, what I find a kicker is that I'm at the stage where I need things, not want things, need things. Things that require loans and financing. UGH
1) I need a new computer. My laptop is five years old and starting to be un-useful. Plus I'm on dial up so any on line work or research takes forever! I have a goal to try to earn enough extra money to buy a new computer. Amount in that fund is really small.
2) I need new slippers. Ok, not quite a computer, but I realized my current pair are totally shot. At least I can afford a new pair from Target, maybe 2 pair if I find them on sale. My floors are cold and I don't keep the heat on very high in the winter.
3) I will need a new car sometime this fall. My poor baby has over 200,000 miles on it and owes me nothing. I think the time is coming to let it rest. I'm starting to have repairs on it and each repair has been around $500 to $600 each. That could be two months of car payments. Not sure (yet) how I am going to afford a new or new to me vehicle at this point, are there really car dealerships that will extend credit to someone fresh out of Bankruptcy? I've not researched that yet, I've only seen the ads on tv and in the paper.
4) I want a new TV. My current TV is a small 12 inch color portable tv, but it's really small. I don't have cable, I borrow a lot of movies from the local library and it would be nice to see a movie on a larger screen. My computer monitor at work is bigger than my TV.
I can live without the new TV and will live without the new TV until I reach very specific financial goals. I'm going to have to figure out how to finance a new to me vehicle.
The upside to all of this I posted on Freecycle, a desire for a bread maker. Low and behold, someone in the neighboring town has one she got as a gift and is giving to me. I love fresh bread, but buying a loaf at the bakery is expensive and I end up with too much bread and not enough space in my freezer to store it. I've used a bread maker before and I know that it will give me the perfect sized loaf of bread, good enough for a couple days. I'm looking forward to coming home to fresh bread for dinner.
Ah yes, and now time to go to bed and get some sleep.
1) I need a new computer. My laptop is five years old and starting to be un-useful. Plus I'm on dial up so any on line work or research takes forever! I have a goal to try to earn enough extra money to buy a new computer. Amount in that fund is really small.
2) I need new slippers. Ok, not quite a computer, but I realized my current pair are totally shot. At least I can afford a new pair from Target, maybe 2 pair if I find them on sale. My floors are cold and I don't keep the heat on very high in the winter.
3) I will need a new car sometime this fall. My poor baby has over 200,000 miles on it and owes me nothing. I think the time is coming to let it rest. I'm starting to have repairs on it and each repair has been around $500 to $600 each. That could be two months of car payments. Not sure (yet) how I am going to afford a new or new to me vehicle at this point, are there really car dealerships that will extend credit to someone fresh out of Bankruptcy? I've not researched that yet, I've only seen the ads on tv and in the paper.
4) I want a new TV. My current TV is a small 12 inch color portable tv, but it's really small. I don't have cable, I borrow a lot of movies from the local library and it would be nice to see a movie on a larger screen. My computer monitor at work is bigger than my TV.
I can live without the new TV and will live without the new TV until I reach very specific financial goals. I'm going to have to figure out how to finance a new to me vehicle.
The upside to all of this I posted on Freecycle, a desire for a bread maker. Low and behold, someone in the neighboring town has one she got as a gift and is giving to me. I love fresh bread, but buying a loaf at the bakery is expensive and I end up with too much bread and not enough space in my freezer to store it. I've used a bread maker before and I know that it will give me the perfect sized loaf of bread, good enough for a couple days. I'm looking forward to coming home to fresh bread for dinner.
Ah yes, and now time to go to bed and get some sleep.
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