How do you find the extra money

We looked at our monthly forevers and decided what we could do without for awhile…cable was one. We borrowed videos through the libray and intra library loan.

look for places you can let go of spending money …It is addictive though its fun to find those spots.My husband stopped smoking saved many thousands of dollars that way…you have to feel your own way through this…

Check to see if you can get a lower interest rate loan on your House mortgage 2 or 3 interest points lower is good.Make sure you have the loan officer check what your payments would be if it was a 25,15,10 ect year loan sometimes their is only a 20 to 50 dollar difference monthly between them. It is better to go for the lowest years you can .Also make sure there isn’t a prepayment penalty.

House insurance; do some comparisons….we found a company called Maine Mutual to be the cheapest for car and house ins.if you are under 50.

if you are 50 or older aarp can cut your car insurance bill in half but their house insurance was triple ours from Maine Mutual for the same coverage.

Ebay things you don’t use

yardsale anything you can

Our Credit card debt

Our credit was actually fairly good as dh paid mortgage and credit cards but nothing else… everything else was years and months behind….

so we would roll over our credit card debt to lower interest or non credit cards when the low or free interest time was about to be up he rolled it over to another low or no interest card and so forth.We always paid more on the cards each month.When we would get a sum of money in our hands we would call the credit card companies and make a deal… they settled for less because we would pay a lump sum payment which would pay off that card. It went on our credit report for 7 years as bad debt but since we had no plans of using credit we didn’t care of course all that has cleared up…. We did this till all credit cards were paid off…

other options:

if your credit is bad and your interest rates on your credit cards are high.Call the company and let them know that your are considering bankruptcy…..they will usually lower the interest and help you get straightened out. Very important to get the interest down……

We had personal loans and paid the minimums until they reached the top of the list.Paid it off and rejoice!!!!!!!

Any other debts you pay the minimum until it comes to the top of the list…

The morgage was paid off by coming to the top of the list and we took the monthly payment plus all the extra we had been paying on the other bills slapped it on there till it was paid off. .We also recieved some extra money during that time and all but 10 percent went to the debt.

This did not go off without a hitch…we had many major financial challenges but we stuck with the plan and it worked….

set your chin like flint….and you can do it!!!!!!!!!!!!!!!!!!!!!!!!!!!

any questions?

You are on the right track

If you start planting seeds now with your two year old daughter then when the time comes for her to go to college she will be expecting to take care of that responsibilty and won’t think a thing of it.Encourage her to start saving a percentage of her money that is given to her for birthdays ect and all the jobs that she earns money at through her youth….I did that with my children and they had some money when they turned 18 to do what they wished to do with it.You could even take it another step and start planning to invest her money now and watch it grow…..there are places to invest small amounts of money.It will be a great education for you and her.

No one is criticizing a person’s decision to pay or assist in paying for a child’s college when the have the money. But, many do not believe it is smart for parents to go deeper in debt in the process. It is just not good business sense. The same would go for paying for a daughter’s wedding.

I know the government hold the kids hostage to the parent’s income, but it is not the government’s responsibility to pay either. When I finally went back to college, I had made too much the year before, but there is also another form that can be filed that basically says circumstances have changed. That did help secure a student loan and more grant money.

Thank you. I hope I’m able to convince her to save her money and not spend it on every little thing like I did and really still do. Even though my dad would tell me to save I didn’t and I never learned how to. Of course telling someone what to do and actually showing them are 2 different things.

My DH and I really going to try and buckle down this year and not spend every little cent we have on frivolous things for 2 reasons our mortage amount has gone up almost $500/mo and we really need to make repairs on our house so we can sell it. Thanks again for your support.