I got an offer yesterday from CitiBank. If I sign up for the "Payment Partners Program," it can help my debt reduction goals.
Here is how it works. I agree to make payments for 4 months on time and in excess of the minimum amount due. At the end of that time, if I've complied, Citi will credit my account with an additional amount equal to 20% of the amount I paid above the minimum due, up to $550 in "extra credit." If I pay $2750 extra, I'll get the maximum credit of $550. If I pay $100 extra, I'll get a credit of $20. I was already planning to send a little extra each month, so by signing up for the program it's like making an extra payment of up to $550, merely by doing what I am planning to do anyway. I liked the sound of that.
So, what's the catch?
They reassured me that nothing about the program gets reported to the credit bureaus, so the participation in the program itself will not adversely affect my credit score.
They also assured me there is no penalty for participation. It will not affect the interest rate on my account or any of the other payment terms.
They also reassured me that there is no penalty for noncompliance, other than not getting the "extra" credit, so if I fail to pay extra toward the debt, nothing bad happens. If I make a late payment, the usual consequences would apply, but nothing worse than usual. (The usual consequences are bad enough, really). Since I plan to pay on time, and was already planning to pay extra, I am confident I will earn the extra credit with no problem.
There are two things I have to give up to participate, both geared toward the idea that I want to make this a permanent debt reduction (I like the sound of that, too).
The first thing is, they will temporarily suspend my charging privileges on the account, so that I cannot make new charges or balance transfers to the card during the 4 month period. This does not bother me because the card is already charged up to its limit, and currently has a 0% interest rate on the current charges, but an 8.24% rate on any new charges, so I wasn't planning to use it, anyway. I am only planning to pay down the debt. Again, they reassured me that they do not report the suspension of charging privileges to the credit reporting agencies, so this will not harm me in any way.
The second thing I have to give up is a portion of my credit line. At the end of the program, they will reduce my credit line by an amount equal to the "extra" amounts in excess of minimum payments plus the 20% credit, so that I can't immediately charge the card right back up to where it was. Again, I wasn't planning to do that, so that's not a huge problem for me.
They also reassured me that they don't specifically report the fact or reason for the credit line reduction. BUT -- and this is a big "But" -- they do of course report the new credit line amount to the credit agencies.
This provision is the only potential pitfall. Your credit score is based in part on the ratio of available credit to actual revolving charges on each card. So, if you have a credit line of $10,000 and an outstanding balance of $5000, that results in a better score than if you have a credit line of $6000 and an outstanding balance of $5000.
Part of the way I was hoping to improve my credit score was by transferring some of the debt from my other card to Citi (which I did), and then paying down both credit lines to a better debt ratio. If Citi reduces my credit line, my debt ratio on that card does not improve.
On the other hand, Citi can unilaterally reduce my credit line any time they want to, even without "paying" me for the privilege. And if they are offering me this program, I am guessing that is exactly what they want to do. So I might as well get something for it.
So I signed up.
Wish me luck!!
Wednesday, July 15, 2009
Friday, July 10, 2009
The Money Meme
I'm starting a new meme today. I am hoping I can learn something from anyone who participates in it. I think I know the "right" (i.e., financially smart) answers for all of these, but I am wondering more generally, am I in the mainstream, or way out there with my spending habits?
I'll start, but as you know my finances are such a disaster, no one should take advice from me. My answers are in blue.
1. Do you use coupons, shop the sales, or pay full price?
I shop the sales and use coupons as much as possible, but I will pay full price for necessities (food mostly) if I can't find them on sale.
2. Do you pay all of the bills as soon as they arrive, or wait until the last minute so you can "earn the last bit of interest" on the money in your checking account?
I used to wait until the last minute to pay them all, thinking I'd earn extra interest, but one late fee is all it takes to wipe out years of "extra interest," so I've joined the "pay the bills as soon as possible" camp. I still sometimes wait until the last minute, if I have to wait for a paycheck so I'll have money in my account. But, as much as possible, I pay the bills as soon as they arrive.
3. Do you charge everything so you can earn your rewards points, or save credit for emergencies only?
I used to charge everything so I could earn rewards points. Now I try not to use the charge cards. But since I never have money in my checking account (it all goes toward the minimum payments), I still find myself charging gas and groceries each month.
4. Do you pay your cards in full each month, or carry a balance?
As anyone who has read any of this blog knows, I carry a balance. Boy, do I carry a balance....
5. If you carry a balance, do you pay the minimum payment each month, or send a little extra?
I send extra when I can. Usually I don't have any extra to send.
6. Do you pay your mortgage every two weeks, or once a month?
Once a month. I do "round up" though, paying an extra few dollars every month to make it a nice even amount. It should take a couple of months off the amortization schedule, and it makes it easier to balance the checkbook, too.
7. How much is your car payment?
$475.00
8. Do you have cable television?
Yes. And cable boxes for 2 televisions. One tv is just hooked up directly to the cable, so we get fewer channels on that one.
9. When shopping for birthday gifts, how much do you spend for:
-- relatives? Depends on the relative. Anywhere from $2 for a card, to $40.00 for those I am closer to.
-- your spouse? Depends on the year and what he has on his "wish list." I've bought foolishly expensive toys such as a computer, to less expensive toys such as a cell phone, on down to a polo shirt and cap in a year when he seemed already to have everything he wanted or needed.
-- your kids? Again, depends on their wish list for the year, but generally not more than $50.00
-- other people's kids (birthday parties your kid attends)? I try to keep it to $10.00 with a maximum of $20.00. No exceptions.
10. If you shop for Christmas gifts, how many people do you purchase gifts for? How much do you spend on each?
I shop for a ridiculous number of friends and relatives. At least 40. And I spend anywhere from $5 to $100, depending on the person and the year. It usually costs me at least $3000 to get through Christmas. I have just got to stop this madness.
11. How much do you spend for other occasions, such as Easter, Valentine's Day, Anniversaries, and other potential gift-giving occasions?
My husband and I spend about $25 on Easter goodies for the kids (candy, small games, Easter Egg dye, and so forth). I usually try to shop the end-of-season sales for things like egg dye and toys, and we save and re-use the plastic eggs, baskets, and "Easter grass." But just last month our supply of baskets and plastic eggs was attacked by rats in the shed (can you believe the rats literally chewed holes in the plastic eggs!?! Yuck!!), and we had to ditch it all. I am guessing I'll spend substantially more for next year's festivities.
Anniversaries are fairly expensive; my husband and I usually try to do something together - a weekend getaway or dinner at a very nice restaurant, so it can run anywhere from $100 to $300.
We are both more frugal with Valentine's Day. A card and some chocolate or a nice shirt or tie - usually get through it for less than $30.
12. You find $100 on the ground (don't laugh; this happened to my husband once!). Do you spend it for a night of fun, or pay bills with it?
He spent it so we could all have fun on our vacation.
13. You go out to lunch dinner with a friend. Did you plan ahead and bring cash, or are you hoping to pay the bill with a card and have your friends give you cash so you'll have money for lunch later this week?
I usually plan to pay with my card, and hope my friend will give me cash (although it's also ok if the waiter will charge half to each of our cards....).
14. It's back-to-school time, and your kid needs clothes. Where do you shop and how much do you spend?
I shop the sales at Target, Dillards, Wal-Mart, Ross, TJMaxx, and anywhere else I can find a good deal. And I don't usually wait until right before school to buy things like t-shirts or polo shirts. If I find a good deal in June, I'll buy it - just get it a little larger than the kids' current size. Sadly, I don't know how much I spend in total; I don't add it up. I probably should have a budget and stick to it, but I figure when I'm spending $2 to $5 for each item, I just buy however many they need and let it go at that.
15. You are shopping for kid clothes in June and you see an absolutely fabulous pair of boots, just your size, on sale. Your current boots are literally falling apart, so you try them on -- and they are comfortable. Do you buy them?
Of course I buy them! Who wouldn't? If I wait until fall to shop for my boots, I'll end up spending a fortune. And I absolutely adore boots!!
16. You owe over $50,000 in credit debt. Do you stay home at all times except when going to the grocery armed with coupons and sale papers, or do you occasionally go out to dinner or a movie? What about the kids? Do you pay for fun activities for them?
I feel I shouldn't. I even feel guilty when I do. But I definitely still go out sometimes, for dinner with my husband or friends, to a movie with the kids, to amusement parks, bowling, and so forth. I try to use coupons and discounts when possible, but I have not mastered the art of totally free entertainment yet. I do spend more time playing board games with my kids and going to free shows and the local (free) water parks and taking advantage of "free days" at the museums than I used to, but I still find it "necessary" or at least very tempting to actually pay for dinner and amusements sometimes.
Okay, that seems like enough for now. I'm not going to tag anyone. If you want to play along with this meme, simply post a link to your blog in the comments section below so I can come see what you've written, add one question and subtract one question, and then answer the questions on your blog.
I'll start, but as you know my finances are such a disaster, no one should take advice from me. My answers are in blue.
1. Do you use coupons, shop the sales, or pay full price?
I shop the sales and use coupons as much as possible, but I will pay full price for necessities (food mostly) if I can't find them on sale.
2. Do you pay all of the bills as soon as they arrive, or wait until the last minute so you can "earn the last bit of interest" on the money in your checking account?
I used to wait until the last minute to pay them all, thinking I'd earn extra interest, but one late fee is all it takes to wipe out years of "extra interest," so I've joined the "pay the bills as soon as possible" camp. I still sometimes wait until the last minute, if I have to wait for a paycheck so I'll have money in my account. But, as much as possible, I pay the bills as soon as they arrive.
3. Do you charge everything so you can earn your rewards points, or save credit for emergencies only?
I used to charge everything so I could earn rewards points. Now I try not to use the charge cards. But since I never have money in my checking account (it all goes toward the minimum payments), I still find myself charging gas and groceries each month.
4. Do you pay your cards in full each month, or carry a balance?
As anyone who has read any of this blog knows, I carry a balance. Boy, do I carry a balance....
5. If you carry a balance, do you pay the minimum payment each month, or send a little extra?
I send extra when I can. Usually I don't have any extra to send.
6. Do you pay your mortgage every two weeks, or once a month?
Once a month. I do "round up" though, paying an extra few dollars every month to make it a nice even amount. It should take a couple of months off the amortization schedule, and it makes it easier to balance the checkbook, too.
7. How much is your car payment?
$475.00
8. Do you have cable television?
Yes. And cable boxes for 2 televisions. One tv is just hooked up directly to the cable, so we get fewer channels on that one.
9. When shopping for birthday gifts, how much do you spend for:
-- relatives? Depends on the relative. Anywhere from $2 for a card, to $40.00 for those I am closer to.
-- your spouse? Depends on the year and what he has on his "wish list." I've bought foolishly expensive toys such as a computer, to less expensive toys such as a cell phone, on down to a polo shirt and cap in a year when he seemed already to have everything he wanted or needed.
-- your kids? Again, depends on their wish list for the year, but generally not more than $50.00
-- other people's kids (birthday parties your kid attends)? I try to keep it to $10.00 with a maximum of $20.00. No exceptions.
10. If you shop for Christmas gifts, how many people do you purchase gifts for? How much do you spend on each?
I shop for a ridiculous number of friends and relatives. At least 40. And I spend anywhere from $5 to $100, depending on the person and the year. It usually costs me at least $3000 to get through Christmas. I have just got to stop this madness.
11. How much do you spend for other occasions, such as Easter, Valentine's Day, Anniversaries, and other potential gift-giving occasions?
My husband and I spend about $25 on Easter goodies for the kids (candy, small games, Easter Egg dye, and so forth). I usually try to shop the end-of-season sales for things like egg dye and toys, and we save and re-use the plastic eggs, baskets, and "Easter grass." But just last month our supply of baskets and plastic eggs was attacked by rats in the shed (can you believe the rats literally chewed holes in the plastic eggs!?! Yuck!!), and we had to ditch it all. I am guessing I'll spend substantially more for next year's festivities.
Anniversaries are fairly expensive; my husband and I usually try to do something together - a weekend getaway or dinner at a very nice restaurant, so it can run anywhere from $100 to $300.
We are both more frugal with Valentine's Day. A card and some chocolate or a nice shirt or tie - usually get through it for less than $30.
12. You find $100 on the ground (don't laugh; this happened to my husband once!). Do you spend it for a night of fun, or pay bills with it?
He spent it so we could all have fun on our vacation.
13. You go out to lunch dinner with a friend. Did you plan ahead and bring cash, or are you hoping to pay the bill with a card and have your friends give you cash so you'll have money for lunch later this week?
I usually plan to pay with my card, and hope my friend will give me cash (although it's also ok if the waiter will charge half to each of our cards....).
14. It's back-to-school time, and your kid needs clothes. Where do you shop and how much do you spend?
I shop the sales at Target, Dillards, Wal-Mart, Ross, TJMaxx, and anywhere else I can find a good deal. And I don't usually wait until right before school to buy things like t-shirts or polo shirts. If I find a good deal in June, I'll buy it - just get it a little larger than the kids' current size. Sadly, I don't know how much I spend in total; I don't add it up. I probably should have a budget and stick to it, but I figure when I'm spending $2 to $5 for each item, I just buy however many they need and let it go at that.
15. You are shopping for kid clothes in June and you see an absolutely fabulous pair of boots, just your size, on sale. Your current boots are literally falling apart, so you try them on -- and they are comfortable. Do you buy them?
Of course I buy them! Who wouldn't? If I wait until fall to shop for my boots, I'll end up spending a fortune. And I absolutely adore boots!!
16. You owe over $50,000 in credit debt. Do you stay home at all times except when going to the grocery armed with coupons and sale papers, or do you occasionally go out to dinner or a movie? What about the kids? Do you pay for fun activities for them?
I feel I shouldn't. I even feel guilty when I do. But I definitely still go out sometimes, for dinner with my husband or friends, to a movie with the kids, to amusement parks, bowling, and so forth. I try to use coupons and discounts when possible, but I have not mastered the art of totally free entertainment yet. I do spend more time playing board games with my kids and going to free shows and the local (free) water parks and taking advantage of "free days" at the museums than I used to, but I still find it "necessary" or at least very tempting to actually pay for dinner and amusements sometimes.
Okay, that seems like enough for now. I'm not going to tag anyone. If you want to play along with this meme, simply post a link to your blog in the comments section below so I can come see what you've written, add one question and subtract one question, and then answer the questions on your blog.
Tuesday, July 7, 2009
Update for June
As of the beginning of July, here is where I stand.
I forgot a small-balance credit card when I calculated my initial balance in April. So my debt amount was even worse than I thought, and should have been $112,065.63 total debt (including the car loan).
The required minimum payments were $2062.07, plus the new charges on the card I pay in full every month, of approximately $1650, which is where I came up with the approximately $3700 in credit payments I need to make every month.
But since I have to pay those new charges on the one card in full every month, I decided to recalculate the minimum payment amount to reflect only the revolving credit payments. That amount varies depending on the balances, but is around $2000 - $2200 each month.
Since April, I have transferred some of my higher interest rate balances to the 0% promotional interest rate CitiCard mentioned previously, and made payments on some of the cards. The thumbnail sketch is as follows:
April:
Total debt before payments this month: $112,065.63
Total minimum payments due: $2062.00
Payments made: $ 680.00, plus transferred $8400 to CitiCard with the 0% promotional interest rate.
Note that I did not meet my goal of paying $335 "extra" in April. I didn't even make the $2062 minimum payments. All I did was move money around. Not very helpful.
May:
Total debt before this month's payments: $106,671.82
Total minimum payments due: $2099.07
Payments made: $2173.00
Extra payment above minimum: $73.93
It appears the debt has decreased by nearly $4000, but it hasn't. Some of the balance transfers had posted to my "payee" accounts, but not yet posted to the Citi card, so my total debt looked a lot less than it really was.
June:
Total debt before this month's payments: $110,233.39
Total minimum payments due: $2191.07
Payments made: $2555.00
Extra payments above minimum: $363.93
This month the minimum payments have gone up. That is because of some new charges on one of my revolving charge accounts - and also because of the new payment required for the Citi card. It may go up again for July, as I needed to purchase clothes for my kids and pay property taxes of $750 and had no other funds available. I already had reached my $1600 credit limit on the card that I pay in full every month.
The total debt at the beginning of June is accurate, though, and includes all the balance transfer debt plus all the previously existing debts and credits.
Also note, I met my goal in June of paying at least $335 "extra" above the minimum payments! (Although, to be honest, I charged more than the $335 "extra" on my revolving accounts, so I'm not sure this really counts, as it did not go to debt reduction, but to paying for things I bought this month. But at least I paid extra instead of just paying the minimum and running up the cards.)
July:
Total estimated debt before this month's payments: $110,104.
Summary:
So, during these three months, I have made payments totaling $5408.00, and reduced the total debt by approximately $1961.00 ($112,065 - $110,104 = $1961.00).
That's a lot of money going to interest payments. But at least I can see some progress, which is encouraging. Certainly it is better than it was before I embarked on this project. It used to be that every time I added up the debt it was more than the last time I added it up.
Wish me luck as I continue this ridiculously hard battle to get rid of credit debt.
.
I forgot a small-balance credit card when I calculated my initial balance in April. So my debt amount was even worse than I thought, and should have been $112,065.63 total debt (including the car loan).
The required minimum payments were $2062.07, plus the new charges on the card I pay in full every month, of approximately $1650, which is where I came up with the approximately $3700 in credit payments I need to make every month.
But since I have to pay those new charges on the one card in full every month, I decided to recalculate the minimum payment amount to reflect only the revolving credit payments. That amount varies depending on the balances, but is around $2000 - $2200 each month.
Since April, I have transferred some of my higher interest rate balances to the 0% promotional interest rate CitiCard mentioned previously, and made payments on some of the cards. The thumbnail sketch is as follows:
April:
Total debt before payments this month: $112,065.63
Total minimum payments due: $2062.00
Payments made: $ 680.00, plus transferred $8400 to CitiCard with the 0% promotional interest rate.
Note that I did not meet my goal of paying $335 "extra" in April. I didn't even make the $2062 minimum payments. All I did was move money around. Not very helpful.
May:
Total debt before this month's payments: $106,671.82
Total minimum payments due: $2099.07
Payments made: $2173.00
Extra payment above minimum: $73.93
It appears the debt has decreased by nearly $4000, but it hasn't. Some of the balance transfers had posted to my "payee" accounts, but not yet posted to the Citi card, so my total debt looked a lot less than it really was.
June:
Total debt before this month's payments: $110,233.39
Total minimum payments due: $2191.07
Payments made: $2555.00
Extra payments above minimum: $363.93
This month the minimum payments have gone up. That is because of some new charges on one of my revolving charge accounts - and also because of the new payment required for the Citi card. It may go up again for July, as I needed to purchase clothes for my kids and pay property taxes of $750 and had no other funds available. I already had reached my $1600 credit limit on the card that I pay in full every month.
The total debt at the beginning of June is accurate, though, and includes all the balance transfer debt plus all the previously existing debts and credits.
Also note, I met my goal in June of paying at least $335 "extra" above the minimum payments! (Although, to be honest, I charged more than the $335 "extra" on my revolving accounts, so I'm not sure this really counts, as it did not go to debt reduction, but to paying for things I bought this month. But at least I paid extra instead of just paying the minimum and running up the cards.)
July:
Total estimated debt before this month's payments: $110,104.
Summary:
So, during these three months, I have made payments totaling $5408.00, and reduced the total debt by approximately $1961.00 ($112,065 - $110,104 = $1961.00).
That's a lot of money going to interest payments. But at least I can see some progress, which is encouraging. Certainly it is better than it was before I embarked on this project. It used to be that every time I added up the debt it was more than the last time I added it up.
Wish me luck as I continue this ridiculously hard battle to get rid of credit debt.
.
Saturday, July 4, 2009
Friday, July 3, 2009
A Small Savings
Lately I am constantly trying to find ways to save money.
Of course I use coupons and shop the sales at the grocery.
I've got the air conditioner set at 80 degrees. I tried 82, but my productivity sunk to unacceptable lows as all I could manage to do was sit quietly and drink iced tea, so I put the thermostat back down to 80.
And, although I couldn't convince my dear husband to get rid of cable entirely, I convinced him that we do not need the digital cable box for the tv in the bedroom. (Not the kind you hook up to your tv so you can get a signal even if you don't have cable; the kind your cable company gives you so you can get 1000 channels instead of the 99 your tv will pick up without the box). 99 channels seems like enough, to me, for a tv that we watch only for an hour or so before bed at night. He agreed. Savings: $6.00 per month. It's not much, but it's something.
On a side note, can you believe the cable company charges $6.00 per month, every month, to rent those cable boxes? That's $72 per year. I've had two of them for over 5 years; seems like they ought to be mine by now (can't imagine they'd cost more than $300 or so to buy new, if you could buy one), but they just keep charging me $6 every month. It's like the old days when you had to rent your telephone from the phone company, and they charged something like $12 a month for it. Then companies started selling telephones for $35 or so, and everyone went out and bought one and saved a bundle. I can't wait 'til you can buy the digital cable boxes for a reasonable price and stop renting them from the cable company!
Any other money-saving ideas or suggestions? Please leave me a comment.
.
Of course I use coupons and shop the sales at the grocery.
I've got the air conditioner set at 80 degrees. I tried 82, but my productivity sunk to unacceptable lows as all I could manage to do was sit quietly and drink iced tea, so I put the thermostat back down to 80.
And, although I couldn't convince my dear husband to get rid of cable entirely, I convinced him that we do not need the digital cable box for the tv in the bedroom. (Not the kind you hook up to your tv so you can get a signal even if you don't have cable; the kind your cable company gives you so you can get 1000 channels instead of the 99 your tv will pick up without the box). 99 channels seems like enough, to me, for a tv that we watch only for an hour or so before bed at night. He agreed. Savings: $6.00 per month. It's not much, but it's something.
On a side note, can you believe the cable company charges $6.00 per month, every month, to rent those cable boxes? That's $72 per year. I've had two of them for over 5 years; seems like they ought to be mine by now (can't imagine they'd cost more than $300 or so to buy new, if you could buy one), but they just keep charging me $6 every month. It's like the old days when you had to rent your telephone from the phone company, and they charged something like $12 a month for it. Then companies started selling telephones for $35 or so, and everyone went out and bought one and saved a bundle. I can't wait 'til you can buy the digital cable boxes for a reasonable price and stop renting them from the cable company!
Any other money-saving ideas or suggestions? Please leave me a comment.
.
Monday, June 29, 2009
More Disaster Narrowly Averted
Folks, if any of you are in the same boat I am in (the Titanic Credit Disaster, that is), or even in a smaller version of the boat (such as the Credit Trouble Yacht), take this warning to heart: You can never be too careful about due dates.
I recently transferred balances to my CitiBank credit card. They were offering 0% interest for six months, with 8.24% after that. So I transferred some of my 20% balances over there. The first bill had a due date of May 18. I paid it, a couple of days early. Yay, I thought, a step towards a better financial position.
Then in June, I went out of town. I got back and sorted through my mail on June 17, and found that my CitiBank card had been due on June 16. Major oops. The payment was a day late.
So I paid it right away, online.
Today I got the next bill (showing a due date of July 17, by the way), and found that CitiBank had charged me a $39.00 late fee for missing that payment by one day (which I expected) and had increased the interest rate to the default rate of 29.99% (which I did not expect). That resulted in an interest charge for the month of $374.86 -- when it was supposed to be zero.... All I could think was, "holy s---."
I was in despair, thinking of paying approximately an extra $400 a month in interest ($1600 for the four months remaining on the six-month promotional period!!), all because I missed a payment deadline by one day!! I haven't done the math, but 30% versus 8.24% has to be a huge differential in interest payments, too, even after the promotional period expires.... this was just not good at all.
And I was more than a little annoyed with Citibank. After all, the payment was only late by one day - does that really justify a "default" interest rate, at an additional cost of $1600 for five months?!? I mean, really... it felt like they laid a trap for me by moving the due date two days earlier and then charging me $1600 for missing it.
So I called CitiBank today. And my faith in humanity (or at least in CitiBank) is restored. The very helpful account manager agreed to waive the late fee, plus the interest that already had been charged, and to reduce the interest rate back down to the promotional 0%.
And so I can quit crying over this particular credit disaster.
And I have learned a lesson: Never rely on the prior month's due date to tell you when this month's due date will be. Always take your credit card information with you when you travel, and stay on top of deadlines and payments that may be due while you are gone.
I'm just glad the lesson did not, in fact, end up costing me $1600-plus.
.
I recently transferred balances to my CitiBank credit card. They were offering 0% interest for six months, with 8.24% after that. So I transferred some of my 20% balances over there. The first bill had a due date of May 18. I paid it, a couple of days early. Yay, I thought, a step towards a better financial position.
Then in June, I went out of town. I got back and sorted through my mail on June 17, and found that my CitiBank card had been due on June 16. Major oops. The payment was a day late.
So I paid it right away, online.
Today I got the next bill (showing a due date of July 17, by the way), and found that CitiBank had charged me a $39.00 late fee for missing that payment by one day (which I expected) and had increased the interest rate to the default rate of 29.99% (which I did not expect). That resulted in an interest charge for the month of $374.86 -- when it was supposed to be zero.... All I could think was, "holy s---."
I was in despair, thinking of paying approximately an extra $400 a month in interest ($1600 for the four months remaining on the six-month promotional period!!), all because I missed a payment deadline by one day!! I haven't done the math, but 30% versus 8.24% has to be a huge differential in interest payments, too, even after the promotional period expires.... this was just not good at all.
And I was more than a little annoyed with Citibank. After all, the payment was only late by one day - does that really justify a "default" interest rate, at an additional cost of $1600 for five months?!? I mean, really... it felt like they laid a trap for me by moving the due date two days earlier and then charging me $1600 for missing it.
So I called CitiBank today. And my faith in humanity (or at least in CitiBank) is restored. The very helpful account manager agreed to waive the late fee, plus the interest that already had been charged, and to reduce the interest rate back down to the promotional 0%.
And so I can quit crying over this particular credit disaster.
And I have learned a lesson: Never rely on the prior month's due date to tell you when this month's due date will be. Always take your credit card information with you when you travel, and stay on top of deadlines and payments that may be due while you are gone.
I'm just glad the lesson did not, in fact, end up costing me $1600-plus.
.
Monday, May 11, 2009
My Payment Goals
I visited Benjamin, over at Feed the Pig, to find out how long it will take me to pay off my existing debt.
Benjamin has a useful credit card payoff calculator, here.
I rounded up my debt amount, to $112,000. I estimated that I will continue to have new spending of approximately $1200 per month. This is the amount that I seem to spend regularly, even if I am avoiding frivolous spending. I spend this amount on:
1. After-school care costs for my two kids (I avoid late fees by having the amounts charged automatically to my card);
2. Gas, groceries, and online bill-paying for the electric or water bill, insurance, property taxes, and so forth, when I don't otherwise have the money to pay them because I have sent it all to my credit card companies for their minimum payments. (It is truly a vicious cycle.)
3. Internet access for my disabled friend (I know, I know, I should probably cut her off / make her pay her own, but it's only $20 per month, and it gives her access to her friends when she otherwise can't get out of the house. She can't afford to pay it herself, as she is on social security disability income. I know, I know, I can't afford it either.... it's a dilemma, isn't it? But I just can't stand to cut her off, so I won't).
4. Clothing and shoes for my kids and (rarely) myself. Since I never have any money in my bank account, the credit card is the only way I can ever buy these necessities. And I haven't gone clothes-shopping just for fun for at least a year. I have only bought things we truly need, such as when my kids' shoes are falling apart, or their pants no longer fit them.
Benjamin advises me that if I want to pay off this amount of debt in 60 months, I need to send $4,035 per month to my creditors, rather than the current minimum payments of $3,700.
If I continue sending the current minimum payments of $3,700, it will take 76 months to pay my debt -- an additional 16 months!
16 months x $3700 = $59,200
$335 x 60 = $20,100.
So by paying an extra $335 per month, I will pay the total debt down 16 months sooner, and will save $39,100.
If I can find the extra money, I definitely should do that.
Of course, we come back to the initial problem that I haven't been earning enough to even make the minimum payments each month, so I may be pie-in-the-sky dreaming to think I can come up with the minimum payment amounts plus an extra $335.
But I will have to try.
And now I am going back to work - you know, to earn that money!
Benjamin has a useful credit card payoff calculator, here.
I rounded up my debt amount, to $112,000. I estimated that I will continue to have new spending of approximately $1200 per month. This is the amount that I seem to spend regularly, even if I am avoiding frivolous spending. I spend this amount on:
1. After-school care costs for my two kids (I avoid late fees by having the amounts charged automatically to my card);
2. Gas, groceries, and online bill-paying for the electric or water bill, insurance, property taxes, and so forth, when I don't otherwise have the money to pay them because I have sent it all to my credit card companies for their minimum payments. (It is truly a vicious cycle.)
3. Internet access for my disabled friend (I know, I know, I should probably cut her off / make her pay her own, but it's only $20 per month, and it gives her access to her friends when she otherwise can't get out of the house. She can't afford to pay it herself, as she is on social security disability income. I know, I know, I can't afford it either.... it's a dilemma, isn't it? But I just can't stand to cut her off, so I won't).
4. Clothing and shoes for my kids and (rarely) myself. Since I never have any money in my bank account, the credit card is the only way I can ever buy these necessities. And I haven't gone clothes-shopping just for fun for at least a year. I have only bought things we truly need, such as when my kids' shoes are falling apart, or their pants no longer fit them.
Benjamin advises me that if I want to pay off this amount of debt in 60 months, I need to send $4,035 per month to my creditors, rather than the current minimum payments of $3,700.
If I continue sending the current minimum payments of $3,700, it will take 76 months to pay my debt -- an additional 16 months!
16 months x $3700 = $59,200
$335 x 60 = $20,100.
So by paying an extra $335 per month, I will pay the total debt down 16 months sooner, and will save $39,100.
If I can find the extra money, I definitely should do that.
Of course, we come back to the initial problem that I haven't been earning enough to even make the minimum payments each month, so I may be pie-in-the-sky dreaming to think I can come up with the minimum payment amounts plus an extra $335.
But I will have to try.
And now I am going back to work - you know, to earn that money!
Thursday, May 7, 2009
Every Little Bit Helps
As I've mentioned, I am desperate to reduce my debt.
I called all my credit card companies and asked them to reduce their interest rates. I didn't spend a lot of time or energy arguing with any of them, and I went into it assuming I would get a "no" answer from all of them, as I have had several late payments recently. Plus, I find it easier to expect the worst and avoid disappointment, rather than getting my hopes up and feeling crushed if it doesn't work out. But, as they say, "nothing ventured, nothing gained." So I tried.
My basic approach was as follows (after wading through the automated systems and entering credit card numbers and telling them my secret codes and so forth to reach a live person):
Credit Card Company Representative (CCCR): How may I help you today?
Me: Well, you could help me a lot by lowering my interest rate to something more reasonable. Your cost to borrow money is at an all-time low, and I was hoping you could pass along some of the savings.
CCCR: Well, let me just check your account on the computer, please hold for a minute....
As expected, most of them came back from reviewing my rather sad credit history and said "no." But one said "yes," and reduced the rate by 2% (14.24% down to 12.24%). Not a lot, but better than nothing.
I owe $11,500 to that creditor.
According to bankrate.com's credit card calculator, if I continue to pay $230 per month for that card (my current minimum payment), it would take 76 months to pay it off at 14.25% interest, and 70 months at 12.25%. So by lowering the interest rate, I saved 6 months of payments. 6 x 230 is $1380 over the life of the loan. Not bad for a ten minute phone call. Not bad even for the hour I invested in calling all my credit card companies. Yay me!
For the ones that said "no," I did ask, "why not?" and mostly they said due to the recent history of late payments. I asked when it would be useful to inquire again, and most said to check back when I had 6 months of timely payments. So, I'll stay on top of my payments, and try again in a few months. If I could just save a few percentage points on each card....
I wonder if I will do better if I try that "power of positive thinking" approach, and go into it expecting a "yes" from each creditor?
I called all my credit card companies and asked them to reduce their interest rates. I didn't spend a lot of time or energy arguing with any of them, and I went into it assuming I would get a "no" answer from all of them, as I have had several late payments recently. Plus, I find it easier to expect the worst and avoid disappointment, rather than getting my hopes up and feeling crushed if it doesn't work out. But, as they say, "nothing ventured, nothing gained." So I tried.
My basic approach was as follows (after wading through the automated systems and entering credit card numbers and telling them my secret codes and so forth to reach a live person):
Credit Card Company Representative (CCCR): How may I help you today?
Me: Well, you could help me a lot by lowering my interest rate to something more reasonable. Your cost to borrow money is at an all-time low, and I was hoping you could pass along some of the savings.
CCCR: Well, let me just check your account on the computer, please hold for a minute....
As expected, most of them came back from reviewing my rather sad credit history and said "no." But one said "yes," and reduced the rate by 2% (14.24% down to 12.24%). Not a lot, but better than nothing.
I owe $11,500 to that creditor.
According to bankrate.com's credit card calculator, if I continue to pay $230 per month for that card (my current minimum payment), it would take 76 months to pay it off at 14.25% interest, and 70 months at 12.25%. So by lowering the interest rate, I saved 6 months of payments. 6 x 230 is $1380 over the life of the loan. Not bad for a ten minute phone call. Not bad even for the hour I invested in calling all my credit card companies. Yay me!
For the ones that said "no," I did ask, "why not?" and mostly they said due to the recent history of late payments. I asked when it would be useful to inquire again, and most said to check back when I had 6 months of timely payments. So, I'll stay on top of my payments, and try again in a few months. If I could just save a few percentage points on each card....
I wonder if I will do better if I try that "power of positive thinking" approach, and go into it expecting a "yes" from each creditor?
Friday, April 24, 2009
How Did It Get This Bad?
One of the first things financial advisers tell you to do when you are trying to get out of debt, is to figure out how it got so bad to start with, so you can avoid making those same mistakes.
So, here is my story.
I graduated in 1993 and started working. At the time, I had student loans and credit debt from school, totaling about $35,000. I worked several years and tried hard to pay down the debt. By 1996, it was down to $23,000.
Then I got married, and ran up about $12,000 in wedding expenses. Dumb, I know. But there you have it, I was right back where I started. (My husband also incurred some expenses for the wedding).
My husband doesn't make a lot of money, and we agreed early on that we'd basically keep our finances separate. The creditors won't care about that, of course, but I feel I owe it to my husband to pay these debts myself, rather than asking him for a lot of money.
At about the same time I got married, I left my relatively high-paying job that required me to work 50-60 hours a week, to take a part-time job (30 hours per week) with the State Government, that paid much less, so that I could start a family. I thought I could cut expenses enough to make up for the pay difference. I didn't try hard enough, apparently.
In fact, I will admit to some very poor spending choices during this time:
I don't know much about cooking, so I ate lunch and dinner out a lot. I bought $5 lattes at least twice a week. I bought way too much stuff for my kids. Spent a lot of money, that I didn't really have, on summer camps and fun classes. Spent way too much on clothes and shoes for myself, as well. I bought new furniture for the house. Paid for some remodeling and repairs. I also spent money on some really fun, really inexpensive vacations, both to cool destinations and to visit family. We generally traveled at least 3 times per year. But even if each family vacation I took was a good idea in general and even though I always travel inexpensively and get great travel deals, it still cost me about $1000 - $2000 per year that I didn't really have.
Other expenses were unavoidable. Day care costs, for example, ranged from $2000 - $6000 per year. Cars cost money to run and to insure. And of course mortgage, taxes, insurance, and utility bills are an ever-present expense.
In any event, by 2006 my salary at my State job had increased only slightly, with the 1% and 2% "cost of living adjustments" that they had given us approximately every other year, and the complete lack of performance-based raises for anyone (well maybe one) during that time. Offsetting the very slight salary increase was the fact that I was paying more than ever before for day care and for the health insurance and required retirement fund contributions. My net paycheck was pretty much the same as it had been 9 years earlier when I started working there.
And the cost of living had gone up. And my debt had gone way up.
By 2005, I was about $45,000 in debt (that is just an estimate; I didn't even want to add it up at that time). But I know it was a lot more than in 1997 because the payments were higher. And I was getting deeper into debt each month because I never made enough money to pay all my bills, so I just kept charging my credit cards higher and higher, for things like lunches and groceries and day care costs....
I was getting nowhere on my debt reduction plan. In fact, my net debt was increasing by about $100 per month.
I decided I had to do something different, and that I could make more per hour working for myself.
So in 2007, I left my State job and began working for myself.
Of course, it takes time and money to start up a business. So I was immediately about $10,000 further in debt for start up costs.
And then I wasn't making much money at all for the first 6 months, so I borrowed $20,000 for living expenses (including the expenses of making payments on the previously existing debt).
And then I made a bit more money for the second 6 months and drastically cut expenses, but had to borrow another $10,000 to make ends meet. Basically, I borrowed about $20,000 less than my prior salary that first year. Bad move.
And then my 1997 car needed replacing, so I bought a new car, at a cost of about $27,000, with monthly payments of $475. I know I should have bought a less expensive car, but I really thought I'd make more money in 2008 and that I could afford the $475 car payments. After all, I had been spending on average about $200 per month in preventive maintenance and repair costs for the old car, so I figured it wasn't that much of an increase..... bad figuring.
In 2008, I actually made a net profit in my business - about $10,000 - and earned about $6000 at a part time job. Basically, I earned enough to cover my basic living expenses - mortgage, etc. - but not enough to make the payments on my debt. So, I found myself borrowing money to make the minimum payments on my debts.
And here we are in 2009. I owe $65,000 more than I did when I left my full-time job two years ago. I have more business now, and I do anticipate earning more in 2009 than in 2008 - but how much more? Will it be enough?
I am so worried. I do not want to file bankruptcy. I do not want to give up on my business just when it is poised to become profitable and successful.
But I am chronically a month behind in my mortgage. I paid January's bill in February, February's in March, March's in April..... and haven't paid for April yet. The bank calls daily. I don't know what to tell them. They just sent a letter threatening foreclosure if I don't pay soon. So what did I do? Borrowed some more money to pay the mortgage....
I know. It's my own stupidity. I should never have left my job. I should never have borrowed money for an expensive wedding. I should not have bought the car. I should have learned to cook and to enjoy brown bag lunches years ago instead of spending so much on restaurant meals..... the list goes on.
But here I am, and the question is, what now?
Obviously I have to cut expenses even more.
Obviously I have to earn more money, which means I probably should stop blogging and start working.
Any other ideas? Please leave them in the comments section.
I'm going back to work now.
.
So, here is my story.
I graduated in 1993 and started working. At the time, I had student loans and credit debt from school, totaling about $35,000. I worked several years and tried hard to pay down the debt. By 1996, it was down to $23,000.
Then I got married, and ran up about $12,000 in wedding expenses. Dumb, I know. But there you have it, I was right back where I started. (My husband also incurred some expenses for the wedding).
My husband doesn't make a lot of money, and we agreed early on that we'd basically keep our finances separate. The creditors won't care about that, of course, but I feel I owe it to my husband to pay these debts myself, rather than asking him for a lot of money.
At about the same time I got married, I left my relatively high-paying job that required me to work 50-60 hours a week, to take a part-time job (30 hours per week) with the State Government, that paid much less, so that I could start a family. I thought I could cut expenses enough to make up for the pay difference. I didn't try hard enough, apparently.
In fact, I will admit to some very poor spending choices during this time:
I don't know much about cooking, so I ate lunch and dinner out a lot. I bought $5 lattes at least twice a week. I bought way too much stuff for my kids. Spent a lot of money, that I didn't really have, on summer camps and fun classes. Spent way too much on clothes and shoes for myself, as well. I bought new furniture for the house. Paid for some remodeling and repairs. I also spent money on some really fun, really inexpensive vacations, both to cool destinations and to visit family. We generally traveled at least 3 times per year. But even if each family vacation I took was a good idea in general and even though I always travel inexpensively and get great travel deals, it still cost me about $1000 - $2000 per year that I didn't really have.
Other expenses were unavoidable. Day care costs, for example, ranged from $2000 - $6000 per year. Cars cost money to run and to insure. And of course mortgage, taxes, insurance, and utility bills are an ever-present expense.
In any event, by 2006 my salary at my State job had increased only slightly, with the 1% and 2% "cost of living adjustments" that they had given us approximately every other year, and the complete lack of performance-based raises for anyone (well maybe one) during that time. Offsetting the very slight salary increase was the fact that I was paying more than ever before for day care and for the health insurance and required retirement fund contributions. My net paycheck was pretty much the same as it had been 9 years earlier when I started working there.
And the cost of living had gone up. And my debt had gone way up.
By 2005, I was about $45,000 in debt (that is just an estimate; I didn't even want to add it up at that time). But I know it was a lot more than in 1997 because the payments were higher. And I was getting deeper into debt each month because I never made enough money to pay all my bills, so I just kept charging my credit cards higher and higher, for things like lunches and groceries and day care costs....
I was getting nowhere on my debt reduction plan. In fact, my net debt was increasing by about $100 per month.
I decided I had to do something different, and that I could make more per hour working for myself.
So in 2007, I left my State job and began working for myself.
Of course, it takes time and money to start up a business. So I was immediately about $10,000 further in debt for start up costs.
And then I wasn't making much money at all for the first 6 months, so I borrowed $20,000 for living expenses (including the expenses of making payments on the previously existing debt).
And then I made a bit more money for the second 6 months and drastically cut expenses, but had to borrow another $10,000 to make ends meet. Basically, I borrowed about $20,000 less than my prior salary that first year. Bad move.
And then my 1997 car needed replacing, so I bought a new car, at a cost of about $27,000, with monthly payments of $475. I know I should have bought a less expensive car, but I really thought I'd make more money in 2008 and that I could afford the $475 car payments. After all, I had been spending on average about $200 per month in preventive maintenance and repair costs for the old car, so I figured it wasn't that much of an increase..... bad figuring.
In 2008, I actually made a net profit in my business - about $10,000 - and earned about $6000 at a part time job. Basically, I earned enough to cover my basic living expenses - mortgage, etc. - but not enough to make the payments on my debt. So, I found myself borrowing money to make the minimum payments on my debts.
And here we are in 2009. I owe $65,000 more than I did when I left my full-time job two years ago. I have more business now, and I do anticipate earning more in 2009 than in 2008 - but how much more? Will it be enough?
I am so worried. I do not want to file bankruptcy. I do not want to give up on my business just when it is poised to become profitable and successful.
But I am chronically a month behind in my mortgage. I paid January's bill in February, February's in March, March's in April..... and haven't paid for April yet. The bank calls daily. I don't know what to tell them. They just sent a letter threatening foreclosure if I don't pay soon. So what did I do? Borrowed some more money to pay the mortgage....
I know. It's my own stupidity. I should never have left my job. I should never have borrowed money for an expensive wedding. I should not have bought the car. I should have learned to cook and to enjoy brown bag lunches years ago instead of spending so much on restaurant meals..... the list goes on.
But here I am, and the question is, what now?
Obviously I have to cut expenses even more.
Obviously I have to earn more money, which means I probably should stop blogging and start working.
Any other ideas? Please leave them in the comments section.
I'm going back to work now.
.
Tuesday, April 21, 2009
How Bad Is It?
Answer: truly awful.
You won't believe it, but it's true. I wouldn't believe it myself if I hadn't just added the numbers up myself, three times in a row.
I checked.
I double-checked.
And then I checked again.
So I know it's true: $88,271.63 in credit card debt. Plus a $23,418.41 car loan. That comes to $111,690.04 in loans.
The minimum payments on that debt are $3705.07 every month.
That's $44,460.84 per year, just for the minimum payments on my credit cards and car loan.
And I made only $24,000 in income last year from my business, before operating expenses were deducted. My net income from the business was closer to $10,000. I also earned about $6,000 in wage income from a part time job.
No wonder I ended up deeper in debt over the course of the year. The $111,000 figure isn't even counting my basic living expenses, such as the mortgage, the utility bills, and food. Well, some of those expenses got paid with credit and are included in that amount, since I wasn't making enough money to pay it all. But to climb out of the hole, I am going to have to make enough money to pay the debt and my monthly expensess.
It has hit me. Hard. I have to fix this. I have to climb out of this hole.
The sad thing is, that is $44,460.84 per year, that, if I didn't owe it to my creditors, I could put toward my living expenses. Or my kids' education. Or my retirement fund. Or charity. Or anything else but lining the pockets of Citibank and Chase and MasterCard and Visa.
The interest rates range from temporary 0%, scheduled to rise to 8% in a few months, all the way up to 29% interest. On $111,690.04, at an average of, say, 15% interest, that comes to $16,753.50 I am paying each year, just in interest.
That's all of my net earnings last year, going to pay just the interest on my debt. And three times my net earnings to make the payments. I had to borrow more money last year just to make the minimum payments on my existing debts.
If I were to pay only the minimum amounts due each month, it would be *years* before the debt is paid. (How many years? I don't know. It's one of the things I'll have to look up.) And of course if I keep borrowing money to make the minimum payments and pay living expenses, it will never get paid. Plus, eventually my creditors will "wise up" and quit loaning me more money.... and then what?
I do not want to file bankruptcy. I just want to get out from under this debt.
************************
So, to summarize:
Total outstanding credit and loan debt: $111,690.04
Total monthly payments due: $3,705.07
************************
This blog will be devoted to erasing that debt, hopefully without filing for bankruptcy. In the next posts, I'll explore how it got this bad, strategies for debt reduction (which debts should I pay first?), ways to make more money, and ways to spend less money. In other words, I'll start by analyzing and figuring out a course of action. Then, I'll post about things I try and about what works and what doesn't.
You can watch me try. I hope you'll offer your prayers and send good wishes my way.
I hope I'll succeed, and not fail.
I'll also post an update around the same day each month regarding the total outstanding debt.
Forgive me for "monetizing" this blog. I am not asking you to click on the ads (unless, of course, something catches your interest and you just want to). I am assuming it won't earn anything at all, or not much anyway, but maybe it will help a little if some good ads come my way and people are interested in what is advertised. I've got to try whatever I can to make some extra money.
And the accountability of a public blog is the main thing I am looking for, here. (Well, sort of public. I'm keeping my identity private, as I don't want my friends and family to know just how bad this is. It's pretty embarrassing. I just want to climb out of the debt hole and start living again.)
All I'm asking for is your encouragement, support, suggestions for ways to improve my finances, and accountability.
Oh, and if you happen to win millions in the lottery and are feeling happy and generous and want to send me $10 or so, just email me. I'll let you know where to send it!
.
You won't believe it, but it's true. I wouldn't believe it myself if I hadn't just added the numbers up myself, three times in a row.
I checked.
I double-checked.
And then I checked again.
So I know it's true: $88,271.63 in credit card debt. Plus a $23,418.41 car loan. That comes to $111,690.04 in loans.
The minimum payments on that debt are $3705.07 every month.
That's $44,460.84 per year, just for the minimum payments on my credit cards and car loan.
And I made only $24,000 in income last year from my business, before operating expenses were deducted. My net income from the business was closer to $10,000. I also earned about $6,000 in wage income from a part time job.
No wonder I ended up deeper in debt over the course of the year. The $111,000 figure isn't even counting my basic living expenses, such as the mortgage, the utility bills, and food. Well, some of those expenses got paid with credit and are included in that amount, since I wasn't making enough money to pay it all. But to climb out of the hole, I am going to have to make enough money to pay the debt and my monthly expensess.
It has hit me. Hard. I have to fix this. I have to climb out of this hole.
The sad thing is, that is $44,460.84 per year, that, if I didn't owe it to my creditors, I could put toward my living expenses. Or my kids' education. Or my retirement fund. Or charity. Or anything else but lining the pockets of Citibank and Chase and MasterCard and Visa.
The interest rates range from temporary 0%, scheduled to rise to 8% in a few months, all the way up to 29% interest. On $111,690.04, at an average of, say, 15% interest, that comes to $16,753.50 I am paying each year, just in interest.
That's all of my net earnings last year, going to pay just the interest on my debt. And three times my net earnings to make the payments. I had to borrow more money last year just to make the minimum payments on my existing debts.
If I were to pay only the minimum amounts due each month, it would be *years* before the debt is paid. (How many years? I don't know. It's one of the things I'll have to look up.) And of course if I keep borrowing money to make the minimum payments and pay living expenses, it will never get paid. Plus, eventually my creditors will "wise up" and quit loaning me more money.... and then what?
I do not want to file bankruptcy. I just want to get out from under this debt.
************************
So, to summarize:
Total outstanding credit and loan debt: $111,690.04
Total monthly payments due: $3,705.07
************************
This blog will be devoted to erasing that debt, hopefully without filing for bankruptcy. In the next posts, I'll explore how it got this bad, strategies for debt reduction (which debts should I pay first?), ways to make more money, and ways to spend less money. In other words, I'll start by analyzing and figuring out a course of action. Then, I'll post about things I try and about what works and what doesn't.
You can watch me try. I hope you'll offer your prayers and send good wishes my way.
I hope I'll succeed, and not fail.
I'll also post an update around the same day each month regarding the total outstanding debt.
Forgive me for "monetizing" this blog. I am not asking you to click on the ads (unless, of course, something catches your interest and you just want to). I am assuming it won't earn anything at all, or not much anyway, but maybe it will help a little if some good ads come my way and people are interested in what is advertised. I've got to try whatever I can to make some extra money.
And the accountability of a public blog is the main thing I am looking for, here. (Well, sort of public. I'm keeping my identity private, as I don't want my friends and family to know just how bad this is. It's pretty embarrassing. I just want to climb out of the debt hole and start living again.)
All I'm asking for is your encouragement, support, suggestions for ways to improve my finances, and accountability.
Oh, and if you happen to win millions in the lottery and are feeling happy and generous and want to send me $10 or so, just email me. I'll let you know where to send it!
.
Subscribe to:
Posts (Atom)