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Who I am and why I'm here

March 7th, 2018 at 08:09 am

You can call me Rose. I am married with one DD. Financial problems are not something I am familiar with until recently. I stumbled upon this place. Looking at other's posts gave me some hope and some motivation to fix the disaster that is my finances.

Why I am here - Until a little less than 2 years ago, I was in a good place financially. The only debt I had was less than $500 on my student loan and our mortgage. Today is a different story. I lost my job after buying a new car. We own a business but I work full time for substantially less than I was making. The business has had a rough year and we have found ourselves with some tax debt. We have made some changes and can see some brighter times ahead. But we owe roughly $17K. I have 3 credit cards that are all maxed out. I am working 2 additional jobs right now just to try to help make ends meet, but its not happening. I feel like I am in debt to my eyeballs. My credit score has dropped 100 points and I hate it.

I am trying to regroup. I want to go to minimal spending and a cash budget. I want to get this derailed train back on track. I would love advice or tips on what to do. Please know that we are not ready to close the business and we would like to keep the car. I have started an ebates account, although I can't buy much online right now. And I started using ibotta. I am clipping coupons and looking for deals. But I know there has to be more.

Thank you for letting me be here. I hope this is the beginning of something new. And thank you in advance for any help.

15 Responses to “Who I am and why I'm here”

  1. james.hendrickson Says:

    Hey Rose, welcome! Really looking forward to following your journey.

  2. Thrifty Ray Says:

    Welcome to the zoo. Good luck on your financial journey! This is a great place to share ideas and information!

  3. creditcardfree Says:

    Welcome to Saving Advice! What do you feel is your first goal? A new job to increase income? Do you have an emergency fund? The more you tell us, at whatever pace is right for you, the more we can help. Food, lights, mortgage and fuel for your vehicle (to get to work and interviews) are always first. Speeding tickets can wait...in order to meet the above obligations.

    Can you cancel television for awhile? So much on the internet for Entertainment? Have you heard of Ting or Republic Wireless for phone service. Many here use them and can give you their feedback. Do you have a stockpile of food you can eat from to save on groceries for awhile?

  4. snafu Says:

    Rose, welcome to SA. We all have different experience and background but truly care about money management. Losing your job is a really big hit.
    I'm really impressed that you've a sidebar that outlines your situation with the numbers you face. I suggest starting by noting every spend, no matter the sum on 'notes' app on phone or a tiny notebook if preferred by you both. It's critical to identify all 'leaks' and to give every dollar a 'job.'

    CCF gave the important list of what needs priority. A great many here have been in similar circumstances and worked through with short term adjustments.

  5. Rose Says:

    Thank you so much for the welcome! Smile I just found out today that I am losing one of my additional jobs today. We do not have an emergency fund right now and I only $40 in a savings account. Unfortunately I have to pay the ticket by 03/21 in order for it to not go on my record. I have $20 towards it so far. We thought about canceling the Satellite but right now we are not doing anything for entertainment except TV. Maybe I can change our package? Our internet is horrible since we are in the country so we have a hard time streaming anything. If we are off of our phones we can use netflix. I have food, but not tons. I am trying to cook from the pantry as much as possible. My birthday is coming, so I asked my family for gardening supplies so I can do a vegetable garden. I hope that will help with some costs. Even if its just a small amount. I do think tracking is a good idea. Right now my goal is to prevent my account from going negative, as horrible as that sounds.

  6. CB in the City Says:

    Tracking is the best first step. Know exactly where every penny goes. Then make cuts. Fight for every dollar. Don't spend anything you don't have to, and, yes, I do recommend canceling the satellite. It is expensive entertainment. Think about what our forefathers did for entertainment. Reading, cooking, playing board games and cards, needlework, listening to music -- not to mention just interacting with each other -- all are great ways to spend your extra time. When you get on your feet you can sign up again -- it will still be there!

    Welcome to the site! It is the best place I've ever found for people who are genuinely trying to improve their finances. I hope we will see you here often.

  7. Wink Says:

    Welcome! I agree with the approach the other's have offered. I know for me it was really eye opening when I started writing down every single penny I spent each month.

  8. Shiela Says:

    Welcome, I wish you all the success in your journey to being debt free. And I agree with the others that you need to get rid of the Sat TV and also maybe try to cut your cell phone in half. You already got the internet and Netflix that should be plenty of options for you and the family. Anyway with 2-3 jobs already you probably don't have much time to watch TV these days. Just those two items alone would be worth 2 months of mortgage payments annually. Good luck.

  9. veronak Says:

    Hello Rose and welcome!

    You've definitely stumbled upon the right place. I'm on this debt free journey as well, I know you mentioned that you don't want to sell the
    car, but I'd start with selling the car.
    Next track your spending, determine where you can cut to save money. Next create and stick to your budget. In the words of Dave Ramsey cut up those credit cards, immediately. Next any extra cash, save a thousand dollars and the tackle your debt smallest to largest.

    Lastly, don't worry about your credit score.

    In a nutshell I just shared with you the Dave Ramsey plan. I've been doing this since August and have paid off two credit cards on my way to the third.

    Good luck

  10. jokeabee Says:

    Use your library! Lots of libraries have movies and TV shows on DVD so that might help with the transition away from Satellite. Even if you just switch to a lower package that will help.

    Are there items around the house you can sell on ebay/facebook marketplace/ offer up/ poshmark? Is there anything you bought that you can still return to the store?

  11. PatientSaver Says:

    Hi, welcome to SA.

    I would not waste time with an eBates accounts or coupons. Think about ways you can save hundreds of dollars, not quarters! You only have so much time in your life, so why not focus your efforts where it counts? You can save quite a bit of money just by making a few phone calls.

    Here are some ideas:

    1. Your cell phone bill seems very high. I use a Trac Phone with a prepaid plan; I pay $100 for 400 minutes, which lasts me all year. You can buy more minutes if you need to, but it would still be a heck of a lot cheaper than what you're paying now. Unless you're someone who is tethered to your phone and need to be on it all the time, I'm sure you can get by with a Tracphone.

    2. Your car insurance also seems very high, but I guess that's for 2 vehicles. Are these new cars/old cars? When is the last time you asked your agent to shop for better plans for you? If they're older cars, you can drop collision. Safe driver courses are offered by many insurers; mine is Safeco (a division of Liberty Mutual) and I drove around with a gadget tracking my driving habits for 3 months. This earned me 18% off permanently, each year, for as long as I hold the policy.

    3. I would also research homeowners plans, as they can be pricey and inch upwards if you're on top of it.

    I've been tracking my spending....to the penny....for at least 15 years. It's not a big deal and becomes habitual after a while. You just hold on to receipts and such so you can later record purchases on an Excel spreadsheet you can create yourself. You can learn a ton of stuff by creating monthly, and especially, annual expense reports. They can be a real eye-opener. I blog about this at every year-end.

  12. Trying to get ahead Says:


    Last year our family had a similar package for cell phone service. We switched to a family plan and it cut our cell phone bill greater than 50% and that is for unlimited talk, text and data. You can keep your phone numbers and switch them to the new company. The cell companies are very competitive lately and the lower priced services piggy-back on the network of the larger companies (i.e. AT&T, T-Mobile, etc). Some deals offer free phones. It is really worth your while to check it out.

    We cut cable and use the antennae for channels. In our area we were surprised how many channels we got and the clarity. Check on Google to see if your area offers channels via antennae. An antenna cost us $25. If it does not work, you can always return it.

    Good luck!

  13. Rachael777 Says:

    welcome. You will get lots of good advice and more importantly good support here!

  14. scottish girl Says:

    Welcome to SA!

  15. Petunia 100 Says:

    Hi Rose, welcome. If you are not already, I suggest you start tracking every penny you spend. Best of luck to you with your financial goals. Smile

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