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Monday, April 21, 2008

My Debt Albatross

I was going through my bills, and I found that I have been underpaying the electric bill. As a result, I have to come up with an additional $90 this week to bring it up to date. That results in me being about $40 over this weeks budget. Still though, I am trusting God and believe I will be able to pull it off. Although, I am in part counting on an annual dividend check, that I really don't know when it will come. The same check, I am expecting to use to nearly wipe out my AmeriFirst (home improvement) loan. I am still eager, and hopeful that I will be able to get rid of that loan by May 1, although this newest realization, may damper that a bit.

While, I am still struggling, it would seem that I can actually see the light. This debt will be gone soon, and I am so freaking eager to see it happen this month. Although, if it doesn't happen this month, it will happen next month. Then I can turn my focus on that annoying Fingerhut,which is the debt that is my albatross.

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go ahead share your thoughts with me now.






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Posted by Kevin Surbaugh at 4/21/2008 11:19:00 AM
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8 comments:

  1. Isn't it weird how excited you get when you start pulling out of a debt hole? I'm with you here - I got smacked with a $75 late fee on my rent because the payment site was down, and they refused to credit it back to me.

    As a result? I have $95 until payday - thankfully, that's only until Friday. The bad part is that I'm pretty sure I just contracted strep, which means doctor's visit and antibiotics. Woo!

    Thankfully, I'm finally struggling up to a point where money has a normal flow again. I'm glad to see you getting there, too.
    ReplyDelete
  2. I wish I could have $95 left after paying my weekly bills. Oh well one day, I won't owe the $100/week car payment and that money can be going to savings, food, clothes and blow (mad) money.
    ReplyDelete
  3. I love your trust in God. He will bless you for your desire to live His way and get out of debt.
    I know, I have no spending money and am trying to increase my food money as well. Yesterday I had to spend $60 on unexpected medicine and today I had two drop off kids (in my in home daycare) so I made $65 not expected (which pays my tithe and for yesterdays meds.) Yeah!
    I still have to come up with $120 extra by the end of the month, but I am sure I will figure something out.
    I enjoy reading your blog. I hope you get out of debt this year! -Becky
    ReplyDelete
  4. Thank you Becky. I appreciate your comments and your readership.

    It is so awesome and mind blowing to see how God provides in so many unexpected ways.
    ReplyDelete
  5. Hi! I wanted to let you know yesterday I went to a we buy gold store and sold two broken pieces I had. The price of gold is really high right now, if you have anything you shoud sell it now. I made $30 for a broken chain and braclet that have been sitting in my drawer for 5 years. I needed gas money as I forgot gas in my budget this week. God is so good!
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  6. Where is your emergency fund? If you don't have one start one, I created an account at Etrade and I will be adding little bits of money to it in the next few months.
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  7. You claim to be a follower of Dave Ramsey's thinking, but your actions show differently. If you've read any of his books, or listened to his show, you know that step #1 is gather a mini emergency fund.....your's has been at $100 for EVER. I have read you for a year and have not seen you build an emergency fund or pay off any significant debt.
    ReplyDelete
  8. Anonymous -
    thank you for your comments. You say you have been reading for a year. Yet you missed the various posts where I was excited to see a $1,000 credit card debt get eliminated. Now as of Tuesday night (at 10:40 pm CT)my $1,000 home improvement loan (with AmeriFirst) is down to $725. As soon they post the newest payment, that debt will be down to somewhere around $400. In addition, readers of my blog watched me pay down and eliminate a $500 debt for insulation. In the 2 years since starting this blog, I have paid off almost 50% of my debt. I expect to pay off the other 50% in the next year.
    as for my emergency fund that you and HS wisely mentioned, every time I get it close to $1,000, I sweep the money into debt elimination. That is how I am getting these debts paid off. Of course, I have some repairs that are being neglected because I am in the debt elimination mode. I have made no secret that while I follow Dave Ramsey, my debt elimination process is somewhat a hybrid of Dave Ramsey, John Cummuta and Larry Wingett all rolled into one. They all teach basically the same thing, although Ramsey teaches building the EF 1st (which I try, but desperately want to get out of debt) and Cummuta teaches payoff the debt then build the emergency fund. I hope this explains what is going on, if you have any other questions or suggestions, feel free to ask (or comment).
    ReplyDelete

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