tag:blogger.com,1999:blog-11803058.post8237505546660536319..comments2008-10-13T19:13:00.606-05:00Jeffhttp://www.blogger.com/profile/13868852480996815442noreply@blogger.comBlogger48125tag:blogger.com,1999:blog-11803058.post-10957511851064005592008-10-13T19:13:00.000-05:002008-10-13T19:13:00.000-05:00Jeff, this is very good and sound advice, and we know that it works, because we've been through this, unfortunately we had to do it twice... apparently we didn't learn our lesson well enough.<BR/><BR/>Again, excellent advice sir! I hope you can help at least one person with this.Rogerhttp://www.blogger.com/profile/01831602215904873587noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-77827859800264790722008-10-08T20:25:00.000-05:002008-10-08T20:25:00.000-05:00Brave and selfless post, Jeff.<BR/><BR/>We used our bank to consolidate all our debt and pay off credit bills. We have only one card and use it for emergencies (or the odd treat). I pay with cash most of the time and debit the rest.<BR/><BR/>We buy almost all our clothes at good quality thrift stores - we're reusing, not supporting big textile mfg and we donate regularly as well. I get all my kitchen ware and other household items this way too. There is a stigma about some of these places BUT you would not believe what you can find!<BR/><BR/>Having said that, I never buy anything unless it's on sale and I absolutely need it. <BR/><BR/>The fast food tip is great. We buy grocery-store type fast-food (frozen pizzas that we add toppings to ourselves etc.)<BR/><BR/>We only have one car. That requires some effort. (I take my husband to work and pick him up)<BR/><BR/>Hope this doesn't sound gross, but we don't flush the toilet at night (or if one of us is home during the day, only after it builds up - not #2 obviously!)<BR/><BR/>We only use our dishwasher when it is chock full (usually every other day) We have a water-saver shower head and we installed a gas stove in the living room to heat the house. Also, we sealed all around the doors and windows to save on heating bills.<BR/><BR/>That's all I can think of right now.<BR/><BR/>Kat <BR/><BR/>P.S. (I'm still digging up the "doozy")Poetikathttp://www.blogger.com/profile/16877694888419628533noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-16066155045428649532008-10-08T16:18:00.000-05:002008-10-08T16:18:00.000-05:00Excellent!Memarie Lanehttp://memarielane.comnoreply@blogger.comtag:blogger.com,1999:blog-11803058.post-57333945508521879812008-10-08T15:52:00.000-05:002008-10-08T15:52:00.000-05:00You may call me the Queen of Sheba. :)cathouse terihttp://www.blogger.com/profile/02547258612468286876noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-88881187788153756752008-10-08T15:30:00.000-05:002008-10-08T15:30:00.000-05:00jennine - Way to look at the positive side! Our 401K is a fraction of what it used to be. Now all we can do is hang in there and hope it rebuilds itself before we retire. Bleh.<BR/><BR/>kevin - Glad to hear it. Thanks!<BR/><BR/>teri - Very good then. May I call your Queen Teri? ;b<BR/><BR/>christina - That sounds like my kind of party! Good for you guys :-)<BR/><BR/>flip flop momma - Glad to have another testimonial. Thanks for your great comment!Jeffhttp://www.blogger.com/profile/13868852480996815442noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-38487867987664616712008-10-08T15:02:00.000-05:002008-10-08T15:02:00.000-05:00you are 100% right....we have no credit card debit either, and we have followed much of these thing u learned from your debt counclor.<BR/><BR/>this shit does work...<BR/><BR/>how do i buy things?..with my chekcing account..NOT a CC or hell even my savings. if i dont have the money to buy it, guess what..I dont.<BR/><BR/>I use to have am emergency CC incase of well, an emergency..after not using it in two years, I cut it up and canelled it..<BR/><BR/>everything seems to be increasing but out pay, and thats what is hard 4 most Amreicans..<BR/><BR/>we are even feeling the pinch right now..<BR/><BR/>most times we chose not to do anything specail or extra because it costs money and well, money is hard to come by now a days..<BR/><BR/>great post and its all true..<BR/><BR/>i have done it too..it works..Flip Flop Mommahttp://www.blogger.com/profile/09065691170535846749noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-83108379647176792862008-10-08T14:10:00.000-05:002008-10-08T14:10:00.000-05:00Excellent Post. I have essentially used the same method and will be out of credit card debt on Oct. 24th. It took us 2 years. I plan on lighting a giant bon fire and burning all of my past credit card statements. I can't wait!!! <BR/><BR/>It was very difficult to hold ourselves back from indulgent spending (eating out, new clothes, etc), but we stuck to our guns and got it done. It feels great.<BR/><BR/>Afterwards, we are planning to responsibly (key word here is responsibly!) indulge in some 'fun' expenses (a fancy dinner and a new outfit for each of us to go to said dinner) and put a lot of what we would be sending to credit cards directly to our savings account every month. We are hoping (fingers crossed!) to be able to buy a home and start a family in 5 years.Christinanoreply@blogger.comtag:blogger.com,1999:blog-11803058.post-25809511404648489302008-10-08T10:54:00.000-05:002008-10-08T10:54:00.000-05:00No, I have it delivered. I don't use a filter. I don't refill anything. I sit at my house whilst water is brought to my throne. :)cathouse terihttp://www.blogger.com/profile/02547258612468286876noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-19556894306470449302008-10-07T21:06:00.000-05:002008-10-07T21:06:00.000-05:00A very good post. Some really good ideas that I think I'll be applying in my own life. Cheers.Kevin Spencerhttp://kevinspencer.orgnoreply@blogger.comtag:blogger.com,1999:blog-11803058.post-78370290796074500692008-10-07T17:26:00.000-05:002008-10-07T17:26:00.000-05:00What an awesome topic. You and Charli are inspiring, the way you've handled your debt.<BR/><BR/>The way I see it, we will be poor until the kids move out. We have no debt. It's our living expenses that do us in and I consider myself to be a creative person!<BR/><BR/>But hey! At least I don't have to worry about losing millions in the stock market. Those are the people I feel for.Jenninehttp://www.jenninejohnson.comnoreply@blogger.comtag:blogger.com,1999:blog-11803058.post-14538946254453488312008-10-07T15:15:00.000-05:002008-10-07T15:15:00.000-05:00teri - No worries. We don't have horses around here. And I was more referring to the individual bottled waters you buy at the grocery store. You really don't need to keep buying them if you have a good water system at home and can refill your own. Most of those products are just filled by a tap in the first place anyway. Plus, they're terrible for the environment.Jeffhttp://www.blogger.com/profile/13868852480996815442noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-59805079992951475502008-10-07T15:06:00.001-05:002008-10-07T15:06:00.001-05:00Also, I will NOT be getting rid of my bottled water service! Neither will I stop buying popcorn at the movie theater! ;)cathouse terihttp://www.blogger.com/profile/02547258612468286876noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-49014375810369458502008-10-07T15:06:00.000-05:002008-10-07T15:06:00.000-05:00Well I'm not sure I would recommend licking yourself, but who am I to judge what people do in private, right? As long as you don't do it in the street and scare the horses!cathouse terihttp://www.blogger.com/profile/02547258612468286876noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-63918427680535254702008-10-07T14:07:00.000-05:002008-10-07T14:07:00.000-05:00jacki - Sounds like you're on a great plan. The experts say that you <I>should</I> indeed be putting money into savings even when times are tough. It's all about living within your means and sticking to your budget.<BR/><BR/>windyridge - I love your "Beat the Gas Squeeze" post! Those are all fabulous tips. And I dream of my kids taking shorter showers.<BR/><BR/>mom thumb - Definitely worth celebrating for sure. And congratulations once again!<BR/><BR/>elizabeth - Yeah, we like Mary because she has practical advice for the average person who is struggling. She's been there and knows her audience well.<BR/><BR/>heather - Ain't that the truth. Especially during the new baby years. That's when we were struggling the most too.<BR/><BR/>sandy - No kidding. Even debit cards. The bank gave my 17 year old son a debit card for his checking account and never offered or advised him a ready reserve. He quickly went negative and had compounding finance charges he couldn't afford to pay. We stepped in and had them all removed, but not before letting them know how irresponsible it was to give a kid an open line of debt.<BR/><BR/>michelle - Man, 8 years is still a long-ass time to pay back a card. I think credit card companies have been just as irresponsible as the banks who have been issuing subprime loans. They ought to know whether their customers should be issued as much credit as they are and not give out cards to risky clients. But unfortunately they prey on the fact that people will get behind and have to pay lots of interest.<BR/><BR/>phil - Good for you Phil. You're doing the right things and you understand you need to keep working at it. Jeans and t-shirts are about all I ever wear myself. And I promise never to judge your haircuts ;-)<BR/><BR/>elizabeth - Isn't that crazy how much coffee costs? I guess they have to pay for all that fancy equipment and those baristas somehow.<BR/><BR/>rickey - Good point. I probably should have worded that "some people are afraid to ask for help." <BR/><BR/>fantasy life - Thanks. That's exactly what I wanted to hear :-)<BR/><BR/>teri - Thank you! Why do I suddenly feel like licking myself?<BR/><BR/>curtis - You definitely should if you can. Carrying that old debt around is no fun at all.<BR/><BR/>doozie - Thanks for sharing your plight. Obviously you should do everything in your power to avoid bankruptcy. My recommendation is to talk to a counselor as a first step. It shouldn't cost you anything (if you go to the right people) and it definitely can't hurt. Good luck!!!<BR/><BR/>jennybean - Unfortunately student loans are a necessary evil. But good for you guys for keeping it clean!Jeffhttp://www.blogger.com/profile/13868852480996815442noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-34414095223936290242008-10-07T12:59:00.000-05:002008-10-07T12:59:00.000-05:00great post... I am proud to say the only debt hubby and I have is student loans... and seeing as how we put ourselves through six years of school between us I guees it's not to bad...<BR/><BR/>Thanks for sharing!Jennybeanhttp://www.blogger.com/profile/07862602135468470367noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-72596993255133411262008-10-07T12:55:00.000-05:002008-10-07T12:55:00.000-05:00This is indeed a very good post. I truly respect you for putting aside your usual humor to share this with people such as myself. I admit I am in a horrible place. I have used credit cards to live off while I was unemployed and now I am in severe trouble. I have been considering bankruptcy but know that if I did that my chances of ever purchasing another home as a single person are slim to none.<BR/><BR/>Amazingly enough many of the credit card companies today are willing to work with you. But you have to be honest and nice. When they call me, I just tell them straight up I can't pay their bill anymore. Either they help me out with a compromise, or they don't. but lately they have been helping. I really, really don't want to do bankruptcy because I feel it is a cop out and I would not be taking care of what I created. And it is my fault, I did this and I should pay it. So thanks again for your post, you are indeed a very well rounded fellow!!The Dooziehttp://www.blogger.com/profile/14971254752562678591noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-81124150629571736572008-10-07T10:52:00.000-05:002008-10-07T10:52:00.000-05:00Definitely going to take note of this... Among my high school bad decisions were charging things, and I am still paying for it. I want to get it taken care of NOW and keep a handle on it instead of the alternative. Great read, thanks!Curtishttp://www.blogger.com/profile/13077680218821302544noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-91506398685463109442008-10-07T10:19:00.000-05:002008-10-07T10:19:00.000-05:00Purrrrrrrfectly stated! People do need to know that there is nothing embarrassing about being in financial crisis. No only financial crisis, but any type of crisis. ANYTHING can be overcome. And the steps are basically the same. Beginning with Step One.<BR/><BR/>Bravo, my furry friend! ;)cathouse terihttp://www.blogger.com/profile/02547258612468286876noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-83764236463695617452008-10-07T07:42:00.000-05:002008-10-07T07:42:00.000-05:00Great post. And you'd think I could come up with an original comment other than 'great post' but it's exactly what I mean to say.Prefers Her Fantasy Lifehttp://www.blogger.com/profile/16253518897502046799noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-35948882545247281902008-10-07T07:30:00.000-05:002008-10-07T07:30:00.000-05:00Great post Jeff. Rickey does slightly disagree with your third point, that nobody asks for help. On the contrary, there's a shitload of people out there looking for assistance of some sort, ranging from some tax relief to a full blown handout.Rickey Hendersonhttp://www.blogger.com/profile/05773465359487671887noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-5366222628837796522008-10-06T22:53:00.000-05:002008-10-06T22:53:00.000-05:00Oh, I just remembered another money-saver that I started about five years ago... I cut my own hair.<BR/><BR/>I look horrible, but it saves a ton of money.<BR/><BR/>Also, I haven't bought new clothes for myself in years.<BR/><BR/>Keeping up with the latest fashions is expensive. Jeans and a t-shirt do just fine.Philhttp://www.blogger.com/profile/00466078882752412292noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-37817361978411298872008-10-06T22:51:00.000-05:002008-10-06T22:51:00.000-05:00I was just thinking about a co-worker who gets at least two mochas a day. So that's $10 a day 5 days a week, $50 a week, $200 a month, $2400 a year. Yikes! Now he doesn't complain about being broke and it may be money well spent for as far as he's concerned, but man, for that kind of money I would brew my own coffee.Elizabethhttp://www.blogger.com/profile/06544076384942487436noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-77989414213059912622008-10-06T22:12:00.000-05:002008-10-06T22:12:00.000-05:00We gave up cable five years ago and have more than enough entertainment through Netflix at $17.99 a month.<BR/><BR/>I've also given up a lot of my wants over the years. I had long wanted a DSLR camera, but have learned to capture memories with a cheap point-and-shoot.<BR/><BR/>I stopped buying the kids so many books and now rely on the library.<BR/><BR/>We took one expensive vacation (to Disneyland a few years back) and now just look for places we can drive to, like the National Parks.<BR/><BR/>I had to run up some debt recently to finish my basement project. It would not have been practical to wait until we had cash in hand. The money gets spent so quickly, yet paying it off takes so long.<BR/><BR/>Thanks for the tips, and the light at the end of the tunnel.Philhttp://www.blogger.com/profile/00466078882752412292noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-24706480377036333882008-10-06T21:47:00.000-05:002008-10-06T21:47:00.000-05:00Kudos to you, Jeff -- this post was great.<BR/><BR/>My biggest pet peeve is listening to all the ads on radio/tv about becoming debt free and ONLY this lawyer or that firm can do it for you. It really irritates me with the misleading statements they make. This lays it all out very clearly.<BR/><BR/>Oh, and working in the financial services industry myself, one caveat to the point you made -- The OCC came down hard about two years ago on minimum payments because many were negatively amortizing or not paying off the balance in a reasonable period. ALL credit cards are now required to have as a minimum 1% of the principal plus finance charges, interest and other fees so that at most (assuming you pay the minimum) it would take 100 months (still 8+ years) to pay off any given credit card. It's not quite as dire as what it was, but still ugly.<BR/><BR/>I've actually thought a lot about getting into financial counseling for those who are having trouble. I've been very lucky in my life, but I know others haven't, and I know many just don't know where to turn. Great article.Michellehttp://www.blogger.com/profile/07803503583347758969noreply@blogger.comtag:blogger.com,1999:blog-11803058.post-6411330051087664242008-10-06T21:29:00.000-05:002008-10-06T21:29:00.000-05:00I am so glad you wrote this. Although we do not have any debt (besides our mortgage), we know MANY people who are totally struggling, and it really does affect every facet of their lives.<BR/><BR/>Credit cards are just way too easy to get these days, don't you think?Sandyhttp://www.blogger.com/profile/05377174692899802883noreply@blogger.com