tag:blogger.com,1999:blog-24744976.post5765680387900887113..comments2007-11-27T11:46:49.596-06:00Kevin Surbaughhttps://profiles.google.com/114850083782944258911noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-24744976.post-25336197970581851572007-11-27T11:46:00.000-06:002007-11-27T11:46:00.000-06:00I have to add, pay the minimum on debts until you have 3 months emergency money. Otherwise as soon as you have an emergency how will you pay for it? Mary Hunt has a great website debt proof living.<BR/>I am also a single parent of 2 boys 100% of the time with very little child support. I know emergencies happen very often. To get out of financial bondage we need to start planning for these emergencies. I only have $200 a month for food for myself, my 2 kids, plus the 2 children I watch (I run a daycare from my home.) It can be done. Read the book Miserly Meals, it is very helpful.<BR/>Eating out is fun, but too expensive so instead we find fun ways to eat food from home. Picnics outside, eating in living room, eating dessert first. <BR/>Also check into the school lunch program at school, it helps low income families. Also we do not have cable at all. We watch dvds from library. <BR/>Also with Christmas approaching let everyone know no gifts this year. Make cookies as gifts or gifts of time. Offer as a gift to rake someone's leaves, clean there gutters, etc. As for your kids with Christmas I spend $40 each on my two boys. I buy gifts that focus on Jesus. They do not miss the hundreds my friends spend on there kids. But we do special activities every Dec. Go see lights, bake cookies, read the Christmas story from the Bible, visit different churches to see nativity scenes. Christmas eve at church. The kids look forward to these things not really the gifts. I hope things look up soon.Becky Rhttp://www.blogger.com/profile/02099347717228504160noreply@blogger.comtag:blogger.com,1999:blog-24744976.post-24057367509744478512007-11-27T11:09:00.000-06:002007-11-27T11:09:00.000-06:00I was about to leave some advise, but the others here said it all: cut the direct TV, cancel the cell phone and take the hit on the cancellation fee, and start making the school lunches. You might want to shop around for alternate day-care. Also, why are you paying for pre-school? I lived in San Diego 7 years ago and didn't pay a dime for it, it was free. Get a job delivering pizzas at night until you get those loans under control.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-24744976.post-88285590852052059782007-11-26T20:39:00.000-06:002007-11-26T20:39:00.000-06:00Something similar happened to me. I didn't have reverse amortization, but I did take 13 months to sell a house.<BR/><BR/>My response to him is to count his blessings.<BR/><BR/>He's living with that $54.5k debt at over 10% interest.<BR/><BR/>Is any of this going to improve? Will the Daycare/pre-school costs change with kindergarten at a public school? When does the cellular phone contract expire? Is it possible to find a cheaper living situation? Does he need DirectTV? Consider Netflix?<BR/><BR/>There's not much magic to the equation: Raise income and lower costs.<BR/><BR/>Focus on your well-being (exercise, time with friends and family), focus on cutting costs to the bone, use a spreadsheet to have a solid understanding of your position (Google has a free one with gmail), make sure you'll make minimum payments, focus on finding additional employment options, and see where you are in six months. You're not sinking like a stone here. If you find yourself in debt, but living a stable no-frills lifestyle, you might then attempt to negotiate the payoff sums down. It would hurt your credit score but that might be a worthwhile tradeoff. Give yourself some time and focus first. And count your blessings. I'm sure you have some.JohnDiddlerhttp://www.blogger.com/profile/05790137091661859754noreply@blogger.comtag:blogger.com,1999:blog-24744976.post-21329374001680738892007-11-26T16:32:00.000-06:002007-11-26T16:32:00.000-06:00Things I would do:<BR/><BR/>1. Cancel Direct TV<BR/>2. Call Cellphone company and shrink my package.<BR/>3. Stop paying for school lunches, pack a lunch instead.<BR/>4. Cancel home phone service in conjuction with #1 then look into a cable/phone/internet deal - currently comcast is offering this by me for $33 a piece for 12months. Could save some.<BR/>5. I would also look into a part-time job, like Starbucks, where for 20 hours you get medical insurance. Sweet deal.<BR/><BR/>Then list your debts, not bills and pick the smallest one - all extra money saved, slam on that baby. When it is gone, move to the next one. <BR/><BR/>Each step providing more breathing room. <BR/><BR/>Also, could you get a room-mate? Offer a service in exchange for day care? Tutor?Dedicatedhttp://www.blogger.com/profile/13253101883627114010noreply@blogger.comtag:blogger.com,1999:blog-24744976.post-40895306092916784542007-11-26T12:44:00.000-06:002007-11-26T12:44:00.000-06:00Could he find other areas to cut down on? Like the son's ride to school. He has a car payment so I am thinking he has a car, then he could take the son to school on his own and reduce or eliminate that.<BR/><BR/>He might also look at cancelling the cell phone. $85/month for two years will cost him $4080. If he has to pay an early termination fee of $200 then it will be cheaper for him to just do that now and free up the $85 monthly.<BR/><BR/>Shop around for car insurance to get a better rate. I cannot understand how the insurance is that high when the car payment is relatively low.<BR/><BR/>Cut out the Direct TV and use the internet to use free services like Joost to watch shows.luluhttp://www.howisavemoney.netnoreply@blogger.com