"I've had it. Pressure turns coal into diamonds? Well, the self-imposed pressure that I'm feeling right now is enough to form a diamond encrusted sword with which I will slay this wretched, soul sucking beast of debt. The Dragon will Die; I'm going to kill it, I'm going to eat it's heart and I'm going to mount it's head on my freakin' wall.The beast will die completely and finally on December 31st, 2008. There - I've set the goal. Does it sounds ridiculous? Absurd? The Impossible Dream? Yeahhhhh....so what. JFK asked the scientist who would later be responsible for the space program what it would take to put a man on the moon. The scientist said, "The Will to Do It." This debt is taking away my financial future, my financial present, my social life, my time with my kids, their financial future - think about all that on a daily basis and see if you don't find the damned will to do just about anything."
Wow....I got chills just reading that, didn't you? Okay, okay - maybe it was just a bug on my neck. But in any case, the words are somewhat inspiring - at least I felt that they were when I wrote them on August 11th, 2007. Problem is, it didn't take. 12/31/08 came and went with the Debt Beast still eating comfortably, having flicked away with its yellowed scraggly claw the tiny peon frantically waving his shiny little stick in the Beast's general direction.
Said peon would, of course, be me. And, while the ideological side of me reads those words and gets re-invigorated, the jaded side of me that's drudged through the last year and a half since that was written reads it again and says..."what a yutz".
I'm no further ahead then when I started this blog, and that's depressing. So what went wrong? Well first off, I didn't work as hard or as smart as I could have or should have. So I'm changing that. I'm raising my rates on jobs so that I actually (gasp!) see a profit when all is said and done. If a client changes their minds about something, a change order will be signed and the price will increase. All jobs will be put in writing and nothing that is not on the page will be done without a change order and more money. Now, this is nothing new - contractors have been doing this for ages, but Debt Daddy has not. I made the mistake of getting too friendly with my clients as well as not valuing myself or my work as it should be valued. That ends this year. To paraphrase, "I'm good enough, I'm smart enough, and gosh darn it - people are gonna pay me for it".
What else went wrong? Underestimating my opponent. When I first got into this whole "slay the credit card beast" rigamarole, I imagined myself as Rocky in the first movie - the underdog going up against the Champ, Apollo Creed. I think I may have been able to win that one, or at least come out of it with a split decision. But debt comes in many forms, and it comes at you from several different directions at once and, before I knew it, I wasn't just fighting Apollo Creed, but Clubber Lang, Ivan Drago, and Tommy Gunn as well - and that was not a fight I was prepared for. I had prepared for a battle - I need to prepare for a war.
Another thing that sabatoged me - thinking that I could do it all on my own. Debt Daddy has always been of the mind that he didn't really need anyone else's help with anything, and admitting that he did was somehow a sign of weakness. Well, I'm trying to get over that feeling now, and make use of the resources around me. I have great friends that are offering advice and support as far as my business goes, and I'm taking it. I'm making an appointment with a financial counselor to sit down with my wife and I to examine our options (interestingly, this particular financial consulting company makes it a rule that they must speak with both spouses - not just one - to make sure that both parties are on board with debt elimination - I thought that was great); I'm even involving my wife more with my business. Turns out Debt Mommy has a gift for determining the true dollar value of my work. So far the quotes she's suggested, while being up to 30% higher than quotes I would have given, have been easily accepted by my clients, so I'm gonna keep running the jobs past her first. She's a keeper, she is.
I guess it's kind of like building a house. You can't build a house using only your hammer. You have to use many different tools, all working together to get the house built right. I'll beat this beast yet, but I can't do it overnight and I can't do it alone. It'll take time, it'll take help, it'll take perseverence and sweat, brains and guts, courage and tenacity....
It'll take every tool in the toolbox.
Showing posts with label debt. Show all posts
Showing posts with label debt. Show all posts
Wednesday, February 4, 2009
Wednesday, January 23, 2008
The Misery Business
A few weeks ago, I was having lunch with my friend Miffy (not his real name, of course - but if you knew him, you'd realize how fitting a name it is), and I was kvetching (from the Yiddish - to complain, to bitch, to moan) about a client and how they were making me nuts. He said, "Well, if misery loves company..." and I stopped him. I said, "No - I don't know who came up with that, but misery does not love company. What does that mean, anyway? If I have a mysterious toe fungus, I would love for you to have a mysterious toe fungus as well? No; misery should not love or even want company unless misery is just a sadistic old so and so."
Upon reflection, I realize that I may have been mistaken.
Misery does love company, but not just any company. It has to be the right company. If I'm getting hit over the head with a hammer, and I'm really not enjoying that very much, would I want my brother, or my wife, or even Miffy to get hit over the head with a hammer as well? Of course not - I don't want them to suffer and it would do me no good anyway. They are the wrong company. However, if the fella smacking my noggin with that mallet were to feel the hammer from my perspective - perhaps if, for every time he hit my head, he had to hit his own head as well with equal force, well then - that is company that I would love. No, not simply love - adore. Because maybe, just maybe, if Crazy Head Hammer Guy feels - actually feels - how much I'm hurting, and it hurts him that much as well - perhaps he will stop the hammering. Maybe he'll turn over a new leaf and become Really Remorseful Aspirin Dispensing Guy instead.
Which brings us to the latest financial markets.
Our beloved Fed Chairman, Ben Bernanke (Bernanke....the most beautiful sound I ever heard...) has been of late the wholesale distributor of aspirin to us in the form of interest rate cuts. Heck, the other day, he was just plain giving it away with a 3/4 point cut in the overnight lending rate. They haven't done something like that in decades. So why now? We've been dealing with financial hardship for quite awhile; why are they acting so aggressively now? Because the folks at the top - the Masters of the Universe - the nasty guys swinging the hammers and trying to knock every last penny out of us - well, they're finally starting to feel the pain as well...and it's about time.
The powers that be are starting to feel what we've been feeling for quite awhile and - surprise, surprise - they don't like it. So here comes dear Mr. Bernanke (They call the wind Bernanke...) with rate cuts and Treasury Secretary Henry Paulson (a far less musical name, unlike Bernanke - Bernanke! Bernanke! One helluva guy!) with the President's great and powerful stimulus package. Ooooooh! Ahhhhhhh! Great and powerful stimulus package!
Yeah - 300 to 600 bucks a piece. You'll get your check in May. And they want us to spend it as fast as humanly possible. With that, and of course some big business tax credits, this package will make everything all better again. Debt Daddy's reaction to this package? Well, in cyber terms, I am ROFLMAOPMPBAGFLSHDGIMNMA! (translated - Rolling On the Floor Laughing My Ass Off, Pissing My Pants,Busting A Gut From Laughing So Hard, Dear God, I May Need Medical Attention). It's ridiculous. It's ludicrous. And it's a prime example of how much Rich America is out of touch with the rest of us. The total rebate for my household will be $1,800, which is a little less than half my monthly mortgage payments. In their scenario, I'm like a crack addict in need of a retail fix and I won't even wait for the check to clear before I run down to the mall and pick up a new flat screen tv, or a new set of 14 carat gold toe rings, or that snazzy cappuccino/espresso/ravioli maker I've had my eye on - it really doesn't matter. In their scenario, I simply can't be rational with money, and will spend it on pretty much anything in order to get that retail rush. Corporate profits will rise, the GDP will appear solvent, and confidence will return to the markets. Blind consumerism will have once again rescued Corporate America and her bloodsucking CEO's, and all will be right with the world. Their world, anyway.
Of course, in my scenario, that's not gonna happen. That money will go where pretty much all my money goes - paying down the debt. I'm hoping that the large majority of Americans do the same. I'm hoping that this stimulus package does absolutely nothing to stimulate the economy because, if it does help, then the country will go back to business as usual, and that's simply unacceptable. Call me un-American if you will, but I've been enjoying the last few months. I enjoy hearing that Bernanke (he's Bernanke...boys, he'll make you happy...yeah, yeah, yeah) has dropped interest rates again....and again....and again. I giggle when I hear mildly panicked radio announcers asking financial experts the same question over and over an over again - "Are we heading for a recession??" - as if we weren't already in one. You and I and most of America - we've been doing the recession mambo for quite awhile - but now these guys are finally starting to hear the music.
Well, welcome to the financial whack-a-mole machine, fellas! How's that hammer feel?
This whole thing is gonna get worse before it gets better. But, ironically enough, worse for them is better for us. If we take that rebate and pay down our debts instead of spending it, they may give us more rebates to "jump-start the economy". If the Richies continue to be scared and run to Bernanke (Beeeeeeeeen - Bernanke when the wind comes sweeping down the plain!) to save them, he'll lower rates again...and again...and again.
And so it goes. It's no day at the beach, but hey - at least now we've got company.
Upon reflection, I realize that I may have been mistaken.
Misery does love company, but not just any company. It has to be the right company. If I'm getting hit over the head with a hammer, and I'm really not enjoying that very much, would I want my brother, or my wife, or even Miffy to get hit over the head with a hammer as well? Of course not - I don't want them to suffer and it would do me no good anyway. They are the wrong company. However, if the fella smacking my noggin with that mallet were to feel the hammer from my perspective - perhaps if, for every time he hit my head, he had to hit his own head as well with equal force, well then - that is company that I would love. No, not simply love - adore. Because maybe, just maybe, if Crazy Head Hammer Guy feels - actually feels - how much I'm hurting, and it hurts him that much as well - perhaps he will stop the hammering. Maybe he'll turn over a new leaf and become Really Remorseful Aspirin Dispensing Guy instead.
Which brings us to the latest financial markets.
Our beloved Fed Chairman, Ben Bernanke (Bernanke....the most beautiful sound I ever heard...) has been of late the wholesale distributor of aspirin to us in the form of interest rate cuts. Heck, the other day, he was just plain giving it away with a 3/4 point cut in the overnight lending rate. They haven't done something like that in decades. So why now? We've been dealing with financial hardship for quite awhile; why are they acting so aggressively now? Because the folks at the top - the Masters of the Universe - the nasty guys swinging the hammers and trying to knock every last penny out of us - well, they're finally starting to feel the pain as well...and it's about time.
The powers that be are starting to feel what we've been feeling for quite awhile and - surprise, surprise - they don't like it. So here comes dear Mr. Bernanke (They call the wind Bernanke...) with rate cuts and Treasury Secretary Henry Paulson (a far less musical name, unlike Bernanke - Bernanke! Bernanke! One helluva guy!) with the President's great and powerful stimulus package. Ooooooh! Ahhhhhhh! Great and powerful stimulus package!
Yeah - 300 to 600 bucks a piece. You'll get your check in May. And they want us to spend it as fast as humanly possible. With that, and of course some big business tax credits, this package will make everything all better again. Debt Daddy's reaction to this package? Well, in cyber terms, I am ROFLMAOPMPBAGFLSHDGIMNMA! (translated - Rolling On the Floor Laughing My Ass Off, Pissing My Pants,Busting A Gut From Laughing So Hard, Dear God, I May Need Medical Attention). It's ridiculous. It's ludicrous. And it's a prime example of how much Rich America is out of touch with the rest of us. The total rebate for my household will be $1,800, which is a little less than half my monthly mortgage payments. In their scenario, I'm like a crack addict in need of a retail fix and I won't even wait for the check to clear before I run down to the mall and pick up a new flat screen tv, or a new set of 14 carat gold toe rings, or that snazzy cappuccino/espresso/ravioli maker I've had my eye on - it really doesn't matter. In their scenario, I simply can't be rational with money, and will spend it on pretty much anything in order to get that retail rush. Corporate profits will rise, the GDP will appear solvent, and confidence will return to the markets. Blind consumerism will have once again rescued Corporate America and her bloodsucking CEO's, and all will be right with the world. Their world, anyway.
Of course, in my scenario, that's not gonna happen. That money will go where pretty much all my money goes - paying down the debt. I'm hoping that the large majority of Americans do the same. I'm hoping that this stimulus package does absolutely nothing to stimulate the economy because, if it does help, then the country will go back to business as usual, and that's simply unacceptable. Call me un-American if you will, but I've been enjoying the last few months. I enjoy hearing that Bernanke (he's Bernanke...boys, he'll make you happy...yeah, yeah, yeah) has dropped interest rates again....and again....and again. I giggle when I hear mildly panicked radio announcers asking financial experts the same question over and over an over again - "Are we heading for a recession??" - as if we weren't already in one. You and I and most of America - we've been doing the recession mambo for quite awhile - but now these guys are finally starting to hear the music.
Well, welcome to the financial whack-a-mole machine, fellas! How's that hammer feel?
This whole thing is gonna get worse before it gets better. But, ironically enough, worse for them is better for us. If we take that rebate and pay down our debts instead of spending it, they may give us more rebates to "jump-start the economy". If the Richies continue to be scared and run to Bernanke (Beeeeeeeeen - Bernanke when the wind comes sweeping down the plain!) to save them, he'll lower rates again...and again...and again.
And so it goes. It's no day at the beach, but hey - at least now we've got company.
Thursday, November 8, 2007
Debt Daddy - Pimp My Interest Rate
Hairshirts Work.
After calling to pester Bank of America two more times after my lovely conversation with Angela Angela (personal friend of Lisa Lisa and the Cult Jam), I finally made it to someone who actually tried to help me (Insert audible gasp here).
Early on in our conversation, I was not expecting much. She was, after all, telling me what all the other "B of A" people I had spoken to were telling me - that my credit report and other various unnamed factors dictate what interest rates I'm allowed to have, and the one I had (17.99%) was the best I could get at this time. However, if I continued to make on time payments for the next 6 months, I might be able to get a better rate.
That's where I finally stopped being nice and got a little testy (balancing on that fine line where you go from asking someone to do something to telling someone to do something and hoping they don't call your bluff). I explained that I had been making on time payments for the last 12 years that I've had this card, so I had already done what they were asking me to do 24 times over! That alone deserved a better rate in my opinion.
Well, she appreciated that, but said she would have to talk to her supervisor and have him call me back. Yes, I flashed back to the mysterious Mr. Misterski too (who has not called me back as of yet - insert look of utter shock here). I said that was fine. I didn't even ask her for her name - I was tired and feeling a bit dejected over the whole process. What did it matter anyway? She'd probably lie about her name like Angela Angela (who lives in New York, New York?), and I truly didn't believe that anyone was going to call me back with anything good to say.
Ah, me of little faith. She called me back herself after only about fifteen minutes to tell me that they were going to reduce my rate to 13.99%. That may not sound like much to some of you, but about 50% of my credit card debt is with B of A right now, so four percentage points lower is just fine with me.
So, after calling this company three times, talking to a total of six people and spending a little under an hour of my time, I saved several thousands of dollars in interest payments. I'd say that was time well spent.
In the midst of these B of A dealings, I also called Citibank, who was charging me 18.99% interest. Suprisingly, I only had to talk to two people there before they bumped my rate down to 10.99%. Oh, and something to keep in mind - most of the rates on credit cards, variable APR mortgages and car loans are tied to the prime rate, which has come down at least 1/2 a point in recent weeks, so in some cases, your rate comes down even if you don't ask for it.
I plugged all these rate reductions (those I negotiated and those from the prime rate reduction) into my Dave Ramsey debt software and ran the debt snowball program again. All told, over the life of my debt, I will have saved $58,129.57 in interest.
And that sure makes a pretty looking diamond on my sword. :)
After calling to pester Bank of America two more times after my lovely conversation with Angela Angela (personal friend of Lisa Lisa and the Cult Jam), I finally made it to someone who actually tried to help me (Insert audible gasp here).
Early on in our conversation, I was not expecting much. She was, after all, telling me what all the other "B of A" people I had spoken to were telling me - that my credit report and other various unnamed factors dictate what interest rates I'm allowed to have, and the one I had (17.99%) was the best I could get at this time. However, if I continued to make on time payments for the next 6 months, I might be able to get a better rate.
That's where I finally stopped being nice and got a little testy (balancing on that fine line where you go from asking someone to do something to telling someone to do something and hoping they don't call your bluff). I explained that I had been making on time payments for the last 12 years that I've had this card, so I had already done what they were asking me to do 24 times over! That alone deserved a better rate in my opinion.
Well, she appreciated that, but said she would have to talk to her supervisor and have him call me back. Yes, I flashed back to the mysterious Mr. Misterski too (who has not called me back as of yet - insert look of utter shock here). I said that was fine. I didn't even ask her for her name - I was tired and feeling a bit dejected over the whole process. What did it matter anyway? She'd probably lie about her name like Angela Angela (who lives in New York, New York?), and I truly didn't believe that anyone was going to call me back with anything good to say.
Ah, me of little faith. She called me back herself after only about fifteen minutes to tell me that they were going to reduce my rate to 13.99%. That may not sound like much to some of you, but about 50% of my credit card debt is with B of A right now, so four percentage points lower is just fine with me.
So, after calling this company three times, talking to a total of six people and spending a little under an hour of my time, I saved several thousands of dollars in interest payments. I'd say that was time well spent.
In the midst of these B of A dealings, I also called Citibank, who was charging me 18.99% interest. Suprisingly, I only had to talk to two people there before they bumped my rate down to 10.99%. Oh, and something to keep in mind - most of the rates on credit cards, variable APR mortgages and car loans are tied to the prime rate, which has come down at least 1/2 a point in recent weeks, so in some cases, your rate comes down even if you don't ask for it.
I plugged all these rate reductions (those I negotiated and those from the prime rate reduction) into my Dave Ramsey debt software and ran the debt snowball program again. All told, over the life of my debt, I will have saved $58,129.57 in interest.
And that sure makes a pretty looking diamond on my sword. :)
Saturday, October 20, 2007
Robin Hood Was Right
First off, I want to thank all of you that have clicked through and joined Prosper, especially those of you who went so far as to fund a loan - felt pretty good getting that instant $25, didn't it? :)
Remember, once you're a member, if you get others to join through the referral program, you'll get another $25 for each one of them that joins and funds a loan, or joins for the purposes of borrowing. And, as if I need to remind you, every dollar that is loaned from one person to another is one more dollar that THE BANKS don't get any part of (I just felt a tingle in my nether regions). Remember that banker that gave you a really hard time and just wouldn't listen to reason? Well, using Prosper is the financial equivalent of replacing his toilet paper with 80 grit sandpaper. Yeah....Ouch. ;)
That to me is the true win/win scenario. It's always great if I can save some money, or make some money - but add to that the thought that I might be able to sucker punch a financial institution in the process - well hell, that just makes Debt Daddy giddy as a schoolgirl (avert your eyes from the visual that may have stirred up).
I guess that's why Robin Hood has always been one of my heroes. He saw a wrong and he righted it. He saw inequity and did something about it, usually with a broad smile on his face. Because he knew - taking ill-gotten gain from one whom neither deserves nor requires it, and returning said money to those from whom it was originally taken, is not theft - it is justice.
It's not about stealing, it's about turning the tide. Nature knows all about this - there's a part of North Carolina called the Outer Banks. It's a truly beautiful stretch of barrier islands, best known for Kitty Hawk, where the Wright Brothers had their maiden flight. More important than its historical significance however, is the inlet system of the islands themselves. Every year, the tide carries sand from the ocean side of the islands through the inlets and deposits it on the sound side. In time, the currents take that sand back from the sound side and replace it on the ocean side, so the islands are ever shifting, but always there.
Then progress came along and mucked everything up. A large bridge was built many years ago across one of the major inlets, stifling the ability of nature to do its job. Does that mean that the sand stops moving? No. Now, instead of moving the sand to the sound side, a good portion of it simply gets washed out to sea, causing beach erosion and, in worst case scenarios, causing beach homes to be condemned because there's simply not enough land left to safely support their homes.
This is what's happening with money as well. When interest rates on credit card debt are allowed to skyrocket, it erodes your funds. When wealthy CEO's hoard millions, often billions of dollars in offshore accounts, the money doesn't flow and the system doesn't function as it should. When the government denies worthwhile programs that would help the poor and middle class while at the same time rewarding the wealthy, they have blocked the cash flow yet again. And when all of these financial factors are combined, eventually there is not enough left to support you and your financial life is condemned - condemned to a seemingly endless race to get back what you lost, to claw your way out of debt - to do whatever it takes to somehow turn the tide and regain that which the sea has taken from you.
That's what Robin Hood was about - restoring the balance. The king was overtaxing those who could not afford to be taxed so heavily, and Robin Hood took it back, returning the cash to those that needed it most. Was he a thief? Depends on how you look at it - as far as the British were concerned, George Washington was a terrorist. The FBI had this to say about Martin Luther King, directly following his "I have a dream" speech; "We must mark him now . . . as the most dangerous Negro of the future in this Nation from the standpoint of Communism, the Negro and national security." It's all about perspective.
From my perspective, we need more Robin Hoods. And each of us, in our own way, can become Robin Hoods. PLEASE NOTE: DEBT DADDY IS NOT ASKING YOU TO STEAL FROM ANYONE AS DEFINED BY THE LAWS OF THE LAND. DEBT DADDY DOES NOT CONDONE, NOR IN ANY WAY ENCOURAGE FELONY BEHAVIOR! We clear? (That said, if you wanted to cover Rush Limbaugh's front lawn in pink paint, forcing him to pay a struggling landscaper to put down new sod, well then - that's your call. I'm pretty sure that's only a misdemeanor, but check with your local authority.)
What I am suggesting is that we play their game. After all, the banks and the government don't break into your house and steal your prized possessions, do they? No; instead they legally jack up your interest rates and your taxes so that you are forced to sell those prized possessions on Ebay to pay the bills. We need some perfectly legal Robin Hooding ideas, and here are a few:
First of all, take a full weekend and study your income tax code and guidelines. Are you absolutely making the most of your deductions? Time to think outside that cursed box - is there a hobby that you engage in that might, with a little tweaking, become a business? If so, the money you spend on that hobby is tax deductible. When you tithe to your church or other place of worship, do you do so by check? You should - that check is a receipt for your charitable contribution - again, tax deductible. Could your own home possibly be considered a place of worship? I know of Orthodox Jews in my area that are using that strategy. Take a fine tooth comb to the tax books, and see what you might be able to use for your situation.
Speaking of taxes, have you appealed your property taxes? I had thought about this, but was afraid it might backfire and my taxes might go up. Turns out, if you appeal, they can only lower your tax or it remains the same - they cannot raise it (this is in my area - again, check your local authority for rules and regs).
Have you looked at Prosper.com? Many of the borrowers on Prosper are there for the purposes of debt reduction. A loan from Prosper is a fixed rate term loan, quite often at better interest rates than you're getting from Visa and the like. A whole lot of people are benefiting from Prosper, so much so that it was named as one of TIME magazines top 50 websites. Again, if you're interested or curious, click the blue link on the left of this page.
These are just a few thoughts - I hope that you will post your own ideas in the comments section. I'm open to any idea, however "out there" it might seem. Because we've gotta turn this tide, folks. We've gotta get back some of what they've taken from us. And we've gotta do it Now.
Rock on, Robin Hoods.
Remember, once you're a member, if you get others to join through the referral program, you'll get another $25 for each one of them that joins and funds a loan, or joins for the purposes of borrowing. And, as if I need to remind you, every dollar that is loaned from one person to another is one more dollar that THE BANKS don't get any part of (I just felt a tingle in my nether regions). Remember that banker that gave you a really hard time and just wouldn't listen to reason? Well, using Prosper is the financial equivalent of replacing his toilet paper with 80 grit sandpaper. Yeah....Ouch. ;)
That to me is the true win/win scenario. It's always great if I can save some money, or make some money - but add to that the thought that I might be able to sucker punch a financial institution in the process - well hell, that just makes Debt Daddy giddy as a schoolgirl (avert your eyes from the visual that may have stirred up).
I guess that's why Robin Hood has always been one of my heroes. He saw a wrong and he righted it. He saw inequity and did something about it, usually with a broad smile on his face. Because he knew - taking ill-gotten gain from one whom neither deserves nor requires it, and returning said money to those from whom it was originally taken, is not theft - it is justice.
It's not about stealing, it's about turning the tide. Nature knows all about this - there's a part of North Carolina called the Outer Banks. It's a truly beautiful stretch of barrier islands, best known for Kitty Hawk, where the Wright Brothers had their maiden flight. More important than its historical significance however, is the inlet system of the islands themselves. Every year, the tide carries sand from the ocean side of the islands through the inlets and deposits it on the sound side. In time, the currents take that sand back from the sound side and replace it on the ocean side, so the islands are ever shifting, but always there.
Then progress came along and mucked everything up. A large bridge was built many years ago across one of the major inlets, stifling the ability of nature to do its job. Does that mean that the sand stops moving? No. Now, instead of moving the sand to the sound side, a good portion of it simply gets washed out to sea, causing beach erosion and, in worst case scenarios, causing beach homes to be condemned because there's simply not enough land left to safely support their homes.
This is what's happening with money as well. When interest rates on credit card debt are allowed to skyrocket, it erodes your funds. When wealthy CEO's hoard millions, often billions of dollars in offshore accounts, the money doesn't flow and the system doesn't function as it should. When the government denies worthwhile programs that would help the poor and middle class while at the same time rewarding the wealthy, they have blocked the cash flow yet again. And when all of these financial factors are combined, eventually there is not enough left to support you and your financial life is condemned - condemned to a seemingly endless race to get back what you lost, to claw your way out of debt - to do whatever it takes to somehow turn the tide and regain that which the sea has taken from you.
That's what Robin Hood was about - restoring the balance. The king was overtaxing those who could not afford to be taxed so heavily, and Robin Hood took it back, returning the cash to those that needed it most. Was he a thief? Depends on how you look at it - as far as the British were concerned, George Washington was a terrorist. The FBI had this to say about Martin Luther King, directly following his "I have a dream" speech; "We must mark him now . . . as the most dangerous Negro of the future in this Nation from the standpoint of Communism, the Negro and national security." It's all about perspective.
From my perspective, we need more Robin Hoods. And each of us, in our own way, can become Robin Hoods. PLEASE NOTE: DEBT DADDY IS NOT ASKING YOU TO STEAL FROM ANYONE AS DEFINED BY THE LAWS OF THE LAND. DEBT DADDY DOES NOT CONDONE, NOR IN ANY WAY ENCOURAGE FELONY BEHAVIOR! We clear? (That said, if you wanted to cover Rush Limbaugh's front lawn in pink paint, forcing him to pay a struggling landscaper to put down new sod, well then - that's your call. I'm pretty sure that's only a misdemeanor, but check with your local authority.)
What I am suggesting is that we play their game. After all, the banks and the government don't break into your house and steal your prized possessions, do they? No; instead they legally jack up your interest rates and your taxes so that you are forced to sell those prized possessions on Ebay to pay the bills. We need some perfectly legal Robin Hooding ideas, and here are a few:
First of all, take a full weekend and study your income tax code and guidelines. Are you absolutely making the most of your deductions? Time to think outside that cursed box - is there a hobby that you engage in that might, with a little tweaking, become a business? If so, the money you spend on that hobby is tax deductible. When you tithe to your church or other place of worship, do you do so by check? You should - that check is a receipt for your charitable contribution - again, tax deductible. Could your own home possibly be considered a place of worship? I know of Orthodox Jews in my area that are using that strategy. Take a fine tooth comb to the tax books, and see what you might be able to use for your situation.
Speaking of taxes, have you appealed your property taxes? I had thought about this, but was afraid it might backfire and my taxes might go up. Turns out, if you appeal, they can only lower your tax or it remains the same - they cannot raise it (this is in my area - again, check your local authority for rules and regs).
Have you looked at Prosper.com? Many of the borrowers on Prosper are there for the purposes of debt reduction. A loan from Prosper is a fixed rate term loan, quite often at better interest rates than you're getting from Visa and the like. A whole lot of people are benefiting from Prosper, so much so that it was named as one of TIME magazines top 50 websites. Again, if you're interested or curious, click the blue link on the left of this page.
These are just a few thoughts - I hope that you will post your own ideas in the comments section. I'm open to any idea, however "out there" it might seem. Because we've gotta turn this tide, folks. We've gotta get back some of what they've taken from us. And we've gotta do it Now.
Rock on, Robin Hoods.
Thursday, October 18, 2007
Debt Daddy - Burnin' Down the Box
Well, we have done the unthinkable...that which must never be mentioned....the beast with seven consequences....
We borrowed from our 401k account.
Okay, that's done it - the remainder of Dave Ramsey's hair just fell out in frustration over my blatant disregard for his rules. I know, I know - in Dave's world, borrowing from my 401k is almost as bad as sleeping with my sister, forcing her to have my baby and naming it Adolf Mussolini.
And yet, I'm just not seeing it that way.
I've had several major bills come in recently - between the life insurance, property tax installment and the dreaded, completely overpriced school tax, I was looking at payments totalling close to $12,000 - that's not even including all the regular monthly bills on top of that. Could I have worked day and night to make that money? Yes. Would I have made my nut? Hmmm....you might, rabbit, you might. Was borrowing from the 401k to take care of those payments the best choice? Maybe, maybe not - I am, after all, robbing my own retirement fund, taking from tomorrow to pay for today (and yesterday, and the day before, etc.). But (and here's the question that decided it for me), how much will you enjoy your tomorrows if you work so hard that you die today?
Today is all we have. Tomorrow is not ever guaranteed and, while we're on the subject, neither are the funds in a 401k or pension or any other retirement account - the value goes up, goes down, and sometimes disappears completely. However, the interest that your credit card company charges is always guaranteed - Visa isn't going to suddenly drop your interest rate from 22% to 3.9% because of volatility on the DOW exchange. So, while we have made good returns on the majority of our investments, and we'll miss those returns on a portion of funds for the time being, the fact remains that I'll have enough left over from this loan to pay off a few thousand dollars worth of credit card debt that's currently charging 18%. Meanwhile, I'm paying back that 401k money at an interest rate of 8.75 %, and that interest is being paid - to me. If I don't pay the loan off sooner, I will have, by the final payment, paid myself $3,783.20 in interest. Frankly, I'd much rather that I get that interest rather than Bank of America or Chase or Citibank or....you get my point. So, sorry Dave, I've been thinking outside the box again and, in my bizarre little mind, this just makes sense.
Thinking outside the box is not always easy. There are some pretty scary nasties on the outside of that box, which is why the box was built in the first place - to give us a comfort zone where we might feel safe and warm and cozy. The problem is, we don't have very much to do with the actual building of the box. Our parents, advertising and marketing companies, the government, teachers - they built our box - their values, mores and beliefs form the walls, floor and ceiling. I have a friend who, for the purposes of this entry and to protect her anonymity, I shall refer to as "Chamomile". Chamomile's parents lived through part of the Great Depression, and this of course has greatly colored her world view, especially in the case of financial matters. So much so that she will often say, "I am a child of the Depression". Now, unless the depression was still going on during the Kennedy Administration, that just ain't true. Doesn't matter; it's in her head - it's the mantra she heard, and the mantra she recites. She didn't build that box, but she's decorated it quite tastefully in the style of the times (which would be the late 1920's).
We've all got our boxes. Believe me, Debt Daddy's box would make your head spin in it's strange amalgam of outdated and often contradictory beliefs. Over the years, I've questioned many of those beliefs and values, leaving dents and sometimes complete holes punched in the walls of my box. The last real solid wall I had was the one entitled, "Thou shalt not borrow from thine 401k - to do so means financial ruin and a daily diet of cat food in your golden years". I stared at that wall for a long time and finally noticed the fine print at the bottom - "This wall manufactured by the banks and financial institutions that use your retirement contributions for decades and who are intent on scaring the bejesus out of you so that you NEVER consider taking away this free source of revenue."
A low growl emanates from deep in Debt Daddy's throat. "Damned banks". In a fit of rage, Debt Daddy charges at that filthy, misleading wall and hurls himself into it. The aged plaster and lathe shatters as he explodes through the wall of his now ramshackle box, landing in a heap on the outside. He finds himself on a vast white sand beach, illuminated by more stars than he thought it possible for the sky to hold. Breathless, he gasps for air and staggers to his feet. The air outside feels clean and fresh, not poisonous like "THEY" said it would be, and a pleasant change from the stale, odorous atmosphere of the box. The Box. An evil gleam flashes in Debt Daddy's eyes. "What this scene needs is a fire", he thinks to himself. Quick as a flash, before he can think twice, he yanks his Zippo from his pocket, rolls the starter across his jeans and tosses the now flaming object into the middle of the box. It ignites immediately, and he sits before the building blaze, chuckling to himself about the sage platitudes that covered its walls -
"A leased vehicle is the Best way to go!"
"What will people think??"
"Ya gotta buy up all the Lucent stock you can....and hold onto it!"
"What you need is a real job in a stable company - like Enron!"
Those and countless others turn to ember and ash, as the box collapses to the ground, it's flames dancing in the night wind. And, although he's sure it's not what the builders had in mind, as he sits before his burning box, now a massive bonfire on the beach, the ashes of preconception, misconception and deception gently floating into an endless night sky full of equally endless possibilities...
He feels Safe.
And Warm.
And Cozy.
We borrowed from our 401k account.
Okay, that's done it - the remainder of Dave Ramsey's hair just fell out in frustration over my blatant disregard for his rules. I know, I know - in Dave's world, borrowing from my 401k is almost as bad as sleeping with my sister, forcing her to have my baby and naming it Adolf Mussolini.
And yet, I'm just not seeing it that way.
I've had several major bills come in recently - between the life insurance, property tax installment and the dreaded, completely overpriced school tax, I was looking at payments totalling close to $12,000 - that's not even including all the regular monthly bills on top of that. Could I have worked day and night to make that money? Yes. Would I have made my nut? Hmmm....you might, rabbit, you might. Was borrowing from the 401k to take care of those payments the best choice? Maybe, maybe not - I am, after all, robbing my own retirement fund, taking from tomorrow to pay for today (and yesterday, and the day before, etc.). But (and here's the question that decided it for me), how much will you enjoy your tomorrows if you work so hard that you die today?
Today is all we have. Tomorrow is not ever guaranteed and, while we're on the subject, neither are the funds in a 401k or pension or any other retirement account - the value goes up, goes down, and sometimes disappears completely. However, the interest that your credit card company charges is always guaranteed - Visa isn't going to suddenly drop your interest rate from 22% to 3.9% because of volatility on the DOW exchange. So, while we have made good returns on the majority of our investments, and we'll miss those returns on a portion of funds for the time being, the fact remains that I'll have enough left over from this loan to pay off a few thousand dollars worth of credit card debt that's currently charging 18%. Meanwhile, I'm paying back that 401k money at an interest rate of 8.75 %, and that interest is being paid - to me. If I don't pay the loan off sooner, I will have, by the final payment, paid myself $3,783.20 in interest. Frankly, I'd much rather that I get that interest rather than Bank of America or Chase or Citibank or....you get my point. So, sorry Dave, I've been thinking outside the box again and, in my bizarre little mind, this just makes sense.
Thinking outside the box is not always easy. There are some pretty scary nasties on the outside of that box, which is why the box was built in the first place - to give us a comfort zone where we might feel safe and warm and cozy. The problem is, we don't have very much to do with the actual building of the box. Our parents, advertising and marketing companies, the government, teachers - they built our box - their values, mores and beliefs form the walls, floor and ceiling. I have a friend who, for the purposes of this entry and to protect her anonymity, I shall refer to as "Chamomile". Chamomile's parents lived through part of the Great Depression, and this of course has greatly colored her world view, especially in the case of financial matters. So much so that she will often say, "I am a child of the Depression". Now, unless the depression was still going on during the Kennedy Administration, that just ain't true. Doesn't matter; it's in her head - it's the mantra she heard, and the mantra she recites. She didn't build that box, but she's decorated it quite tastefully in the style of the times (which would be the late 1920's).
We've all got our boxes. Believe me, Debt Daddy's box would make your head spin in it's strange amalgam of outdated and often contradictory beliefs. Over the years, I've questioned many of those beliefs and values, leaving dents and sometimes complete holes punched in the walls of my box. The last real solid wall I had was the one entitled, "Thou shalt not borrow from thine 401k - to do so means financial ruin and a daily diet of cat food in your golden years". I stared at that wall for a long time and finally noticed the fine print at the bottom - "This wall manufactured by the banks and financial institutions that use your retirement contributions for decades and who are intent on scaring the bejesus out of you so that you NEVER consider taking away this free source of revenue."
A low growl emanates from deep in Debt Daddy's throat. "Damned banks". In a fit of rage, Debt Daddy charges at that filthy, misleading wall and hurls himself into it. The aged plaster and lathe shatters as he explodes through the wall of his now ramshackle box, landing in a heap on the outside. He finds himself on a vast white sand beach, illuminated by more stars than he thought it possible for the sky to hold. Breathless, he gasps for air and staggers to his feet. The air outside feels clean and fresh, not poisonous like "THEY" said it would be, and a pleasant change from the stale, odorous atmosphere of the box. The Box. An evil gleam flashes in Debt Daddy's eyes. "What this scene needs is a fire", he thinks to himself. Quick as a flash, before he can think twice, he yanks his Zippo from his pocket, rolls the starter across his jeans and tosses the now flaming object into the middle of the box. It ignites immediately, and he sits before the building blaze, chuckling to himself about the sage platitudes that covered its walls -
"A leased vehicle is the Best way to go!"
"What will people think??"
"Ya gotta buy up all the Lucent stock you can....and hold onto it!"
"What you need is a real job in a stable company - like Enron!"
Those and countless others turn to ember and ash, as the box collapses to the ground, it's flames dancing in the night wind. And, although he's sure it's not what the builders had in mind, as he sits before his burning box, now a massive bonfire on the beach, the ashes of preconception, misconception and deception gently floating into an endless night sky full of equally endless possibilities...
He feels Safe.
And Warm.
And Cozy.
Wednesday, September 12, 2007
Debt Daddy on the Edge
Don'tcha just love the mail?
The school tax bill came - all $8,265.00 of it.
Can you say "Ouch"? C'mon, say it with me now - Ouch! Come on; louder! With feeling! (like if part of you just got caught in your zipper - you fella's out there know what I'm talking about)
OUCH!!!!!!
I actually got this bill last week, but it took me this long to be able to talk about it without falling into The Pit Of Despair. I used to suffer from some pretty severe depression, but have found over the past few years that laughter honestly is good medicine (not the best medicine, as many have been led to believe - that would, of course be tequila, but I can't afford that at the moment). So, I've gotten to the point now where I can laugh about this a bit - it's a kind of maniacal laugh - more of a hilarious cackle really, and I think it scares my wife a little, but it's a start.
So, I've gotta scramble..again. I did the numbers when I got the bill and determined that, if I made $200 every single day for the next 26 days (bill is due at the end of September), combined that with my wife's salary and applied that entire amount to the current bills and the tax bill, I would only be $2,000 short. I just ran the numbers again and, to break even, I need to make $500 every day for the next 18 days. (Insert maniacal laughter here)
So, re-think. Re-scramble. Lather, Rinse, Re-peat. And try to dismiss Gene Wilder's voice in my head mumbling, "Now Way Out, No Way Out, No Way Out".
That's probably the most frustrating part of this entire process - I know that there is a way out - I know with the utmost certainty that there is a way by which I can get all this paid off and put this debt behind me - I just haven't figured out what that is yet.
Still, I know that it's there. The Answer. At the moment, it's much like a huge, scattered jigsaw puzzle in my mind, with only the beginnings of an edge completed, but I know that it can be completed and the picture will be clear. There is a solution for every problem, an answer for every question - there is always a way out. I truly believe this. It just requires careful thought and deliberate action, both of which are hard to muster when you have a huge dungheap of debt hanging by a thread directly above you.
A good dose of divine inspiration is also quite helpful to the process, and that's where y'all come in, if you would be so kind. What's the craziest thing you ever did to make money? The most bizarre job you've ever had? The biggest risk you've ever taken that turned out to be profitable? The oddest way to stretch a dollar? Whatever you've got, I'd love to hear it. Sometimes, all it takes is seeing things from a different angle to push me through a mental block and man - I could sure use a push right now.
Please leave some comments on this. I haven't been around blogland long, but it seems to me that good blogs are like good sex - it's always much better when there's more than one person participating. With your help, we could turn this into an absolute blog orgy.
C'mon...join me...it'll be blogeriffic! (Insert maniacal laughter here)
The school tax bill came - all $8,265.00 of it.
Can you say "Ouch"? C'mon, say it with me now - Ouch! Come on; louder! With feeling! (like if part of you just got caught in your zipper - you fella's out there know what I'm talking about)
OUCH!!!!!!
I actually got this bill last week, but it took me this long to be able to talk about it without falling into The Pit Of Despair. I used to suffer from some pretty severe depression, but have found over the past few years that laughter honestly is good medicine (not the best medicine, as many have been led to believe - that would, of course be tequila, but I can't afford that at the moment). So, I've gotten to the point now where I can laugh about this a bit - it's a kind of maniacal laugh - more of a hilarious cackle really, and I think it scares my wife a little, but it's a start.
So, I've gotta scramble..again. I did the numbers when I got the bill and determined that, if I made $200 every single day for the next 26 days (bill is due at the end of September), combined that with my wife's salary and applied that entire amount to the current bills and the tax bill, I would only be $2,000 short. I just ran the numbers again and, to break even, I need to make $500 every day for the next 18 days. (Insert maniacal laughter here)
So, re-think. Re-scramble. Lather, Rinse, Re-peat. And try to dismiss Gene Wilder's voice in my head mumbling, "Now Way Out, No Way Out, No Way Out".
That's probably the most frustrating part of this entire process - I know that there is a way out - I know with the utmost certainty that there is a way by which I can get all this paid off and put this debt behind me - I just haven't figured out what that is yet.
Still, I know that it's there. The Answer. At the moment, it's much like a huge, scattered jigsaw puzzle in my mind, with only the beginnings of an edge completed, but I know that it can be completed and the picture will be clear. There is a solution for every problem, an answer for every question - there is always a way out. I truly believe this. It just requires careful thought and deliberate action, both of which are hard to muster when you have a huge dungheap of debt hanging by a thread directly above you.
A good dose of divine inspiration is also quite helpful to the process, and that's where y'all come in, if you would be so kind. What's the craziest thing you ever did to make money? The most bizarre job you've ever had? The biggest risk you've ever taken that turned out to be profitable? The oddest way to stretch a dollar? Whatever you've got, I'd love to hear it. Sometimes, all it takes is seeing things from a different angle to push me through a mental block and man - I could sure use a push right now.
Please leave some comments on this. I haven't been around blogland long, but it seems to me that good blogs are like good sex - it's always much better when there's more than one person participating. With your help, we could turn this into an absolute blog orgy.
C'mon...join me...it'll be blogeriffic! (Insert maniacal laughter here)
Thursday, July 19, 2007
A Snowball's Chance in Hell - Part 2
"Write down every dollar."
Damn, that puts some stark reality on the picture, doesn't it? I've been tracking each dollar spent lately, and am shocked by the incredible mass exodus of money from my checking account. I knew we had more of a layout this month (property taxes, special "dog needs" and some quarterly bills), but I just can't believe that by the end of July, we will have paid out $12,624.00 to the cards, the mortgages, grocery stores, gas stations, utilities and the car loan. So much of that is Credit Card Interest - they should teach that side of compound interest in schools - how it works so well for the CC companies.
Still, there is some good news. Seeing the cold, hard numbers has forced me to work more, charge more, sell more and really just think outside the box (perhaps I should sell the box on E-bay).
From the 1st to the 15th, I was working intensely, booking jobs and banking bucks. On average, I banked more money in those first two weeks than I usually do in a month. Then...things...slowed...down and I have had very little work this week. Did that send me into Panic mode? Yes, of course. And you just know that Panic doesn't go anywhere without his good buddy Depression - they like to get silly together and sing show tunes in my ear. Their favorite little diddy is "Daddy's Worth More Dead than Alive", and when things get really bad, I sing along (it's a pretty dark musical, in case you didn't get that).
Well, I only got as far as the chorus this time, scrounged up a little more resolve, and went about the business of finding more income. Listed some more books for sale on Amazon.com, marked down some items on Craigslist for quick sale, and started re-thinking some of the elements of my business and how I might do things better and make more $. It felt good and gave me some hope. I should hang a plaque on my wall that says, "Self Examination is Always Better than Self Destruction."
I also went over to Networth IQ to get me one of those handy dandy net worth graphs. While again, the stark reality of seeing my negative net worth is jarring, I'm taking heart in the fact that the graph is showing upward movement, and will continue in that direction if I have any say in the matter.
Back to work - more later.
Damn, that puts some stark reality on the picture, doesn't it? I've been tracking each dollar spent lately, and am shocked by the incredible mass exodus of money from my checking account. I knew we had more of a layout this month (property taxes, special "dog needs" and some quarterly bills), but I just can't believe that by the end of July, we will have paid out $12,624.00 to the cards, the mortgages, grocery stores, gas stations, utilities and the car loan. So much of that is Credit Card Interest - they should teach that side of compound interest in schools - how it works so well for the CC companies.
Still, there is some good news. Seeing the cold, hard numbers has forced me to work more, charge more, sell more and really just think outside the box (perhaps I should sell the box on E-bay).
From the 1st to the 15th, I was working intensely, booking jobs and banking bucks. On average, I banked more money in those first two weeks than I usually do in a month. Then...things...slowed...down and I have had very little work this week. Did that send me into Panic mode? Yes, of course. And you just know that Panic doesn't go anywhere without his good buddy Depression - they like to get silly together and sing show tunes in my ear. Their favorite little diddy is "Daddy's Worth More Dead than Alive", and when things get really bad, I sing along (it's a pretty dark musical, in case you didn't get that).
Well, I only got as far as the chorus this time, scrounged up a little more resolve, and went about the business of finding more income. Listed some more books for sale on Amazon.com, marked down some items on Craigslist for quick sale, and started re-thinking some of the elements of my business and how I might do things better and make more $. It felt good and gave me some hope. I should hang a plaque on my wall that says, "Self Examination is Always Better than Self Destruction."
I also went over to Networth IQ to get me one of those handy dandy net worth graphs. While again, the stark reality of seeing my negative net worth is jarring, I'm taking heart in the fact that the graph is showing upward movement, and will continue in that direction if I have any say in the matter.
Back to work - more later.
Wednesday, July 18, 2007
A Snowball's Chance in Hell - Part 1
No one wants to buy my stuff.
I'm not sure why. I mean, it's great stuff - that's what they told me when I bought it anyway, which is why I have a house full of it. But I'm trying to turn over a new leaf - I'm trying to proclaim my status as a "Survivor of Stuffitis" and find good homes for all my stuff (heck, even marginal homes - what you do with that salad shooter after you buy it is no business of mine).
And yet, despite numerous garage sales at various locations, listings on craigslist, amazon.com and e-bay, a great deal of this crap simply refuses to get out of Dodge.
The upshot of this (if you can call it that) is that I now have an extreme aversion to the idea of More Stuff. I may have taken this to the extreme in some cases - for instance, I regularly return nearly all my birthday, christmas and father's day gifts to get the cash to pay off my debt. In those rare cases when the store will only give me store credit, I get that in gift cards which I then save to give to other people at christmas. So when you give me a gift, you can be pretty sure that it truly will be "the gift that keeps on giving".
I'll return or sell anything that isn't nailed down or breathing, and yet my tiny little debt snowball just can't seem to get itself rolling.
Anyone else experiencing snowball stall?
I'm not sure why. I mean, it's great stuff - that's what they told me when I bought it anyway, which is why I have a house full of it. But I'm trying to turn over a new leaf - I'm trying to proclaim my status as a "Survivor of Stuffitis" and find good homes for all my stuff (heck, even marginal homes - what you do with that salad shooter after you buy it is no business of mine).
And yet, despite numerous garage sales at various locations, listings on craigslist, amazon.com and e-bay, a great deal of this crap simply refuses to get out of Dodge.
The upshot of this (if you can call it that) is that I now have an extreme aversion to the idea of More Stuff. I may have taken this to the extreme in some cases - for instance, I regularly return nearly all my birthday, christmas and father's day gifts to get the cash to pay off my debt. In those rare cases when the store will only give me store credit, I get that in gift cards which I then save to give to other people at christmas. So when you give me a gift, you can be pretty sure that it truly will be "the gift that keeps on giving".
I'll return or sell anything that isn't nailed down or breathing, and yet my tiny little debt snowball just can't seem to get itself rolling.
Anyone else experiencing snowball stall?
Monday, July 16, 2007
Debt Daddy initiates contact with the Blog People
Hey. I’m Debt Daddy. I actually think I qualify as King of Debt, but there’s someone else with that name already and I’m not about stepping on toes. Yet…I’ve seen his debt numbers, and I’ve gotta say he’s like the Duke of Debt next to me and my big old hairy beast of burden. Wait, I’m looking again….make that Squire of debt.
Believe me, if you saw my debt figures, you would proclaim me undisputed King in a heartbeat (I’m not going to share my numbers at this juncture - after all, we’ve only just met), but that’s really not the point, is it? I’m not here to be the biggest or the baddest (or the Stupidest, I guess, for having so much darned debt) - what I am here for is to figure a way out of it and I’m guessing that you are too if you’re reading this (then again, maybe you’re here because you find Dads in debt incredibly sexy, and who am I to disagree with you? A guy with kids, crushing debt…what’s not to love? Hell, just make me morbidly obese and driving a ‘78 Nova and I’d be nearly perfect.)
So, if you’re in debt too, what’s working for you? To get out I mean - heck, I know a million ways to get INTO debt! I don’t need help with that! Geez. Wait. Sorry…before I ask you what’s working, let me just clue you in on the things that I refuse to do to get out of debt:
Debt Consolidation
Debt Counseling
Selling my primary residence (unless you have a lovely free house that you’re not currently using, perhaps on the beach?)
Selling my car
Aside from that, I’m pretty open. I’ve stopped using the credit cards (I have many, and they’ve all been misbehaving terribly lately, so I’ve locked them in a small, dark place until they can learn some freaking respect) and I’m trying to maximize income while minimizing unnecessary expenses. I’ve become my father when it comes to turning out lights around the house, we don’t eat out, we get videos from the library instead of Netflix, I’ve tried to minimize the frequency and length of my showers (I know - you’re hot for me all over again, aren’t you - I just keep getting sexier and sexier, don’t I?) - in short, I’m funnelling every available cent to the credit cards and yet, it seems to be making only the smallest of dents in my debt reduction.
So, I’m trying to think outside the box. Finding Dave Ramsey was a Godsend, but I need more. Debt snowball - cool. Debt Snow Plow is what I hope to find.
Anyone know where i can find a plow? Let me know.
Believe me, if you saw my debt figures, you would proclaim me undisputed King in a heartbeat (I’m not going to share my numbers at this juncture - after all, we’ve only just met), but that’s really not the point, is it? I’m not here to be the biggest or the baddest (or the Stupidest, I guess, for having so much darned debt) - what I am here for is to figure a way out of it and I’m guessing that you are too if you’re reading this (then again, maybe you’re here because you find Dads in debt incredibly sexy, and who am I to disagree with you? A guy with kids, crushing debt…what’s not to love? Hell, just make me morbidly obese and driving a ‘78 Nova and I’d be nearly perfect.)
So, if you’re in debt too, what’s working for you? To get out I mean - heck, I know a million ways to get INTO debt! I don’t need help with that! Geez. Wait. Sorry…before I ask you what’s working, let me just clue you in on the things that I refuse to do to get out of debt:
Debt Consolidation
Debt Counseling
Selling my primary residence (unless you have a lovely free house that you’re not currently using, perhaps on the beach?)
Selling my car
Aside from that, I’m pretty open. I’ve stopped using the credit cards (I have many, and they’ve all been misbehaving terribly lately, so I’ve locked them in a small, dark place until they can learn some freaking respect) and I’m trying to maximize income while minimizing unnecessary expenses. I’ve become my father when it comes to turning out lights around the house, we don’t eat out, we get videos from the library instead of Netflix, I’ve tried to minimize the frequency and length of my showers (I know - you’re hot for me all over again, aren’t you - I just keep getting sexier and sexier, don’t I?) - in short, I’m funnelling every available cent to the credit cards and yet, it seems to be making only the smallest of dents in my debt reduction.
So, I’m trying to think outside the box. Finding Dave Ramsey was a Godsend, but I need more. Debt snowball - cool. Debt Snow Plow is what I hope to find.
Anyone know where i can find a plow? Let me know.
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