Our landline phone, internet service and cable are all bundled

We have them on the lowest level plans offered.
Our cell phones DO NOT WORK inside of our house. With a small child in the house, we need a way to summon help if needed, so a landline stays.
We can’t cancel the cell phones, since they are under contract and have early termination fees.
We cancelled cable t.v. down to the absolute basic. Our t.v. does not work without some kind of connection. (Personally, I think it is a scam for this area. Where we used to live, about an hour away, you could simply plug the t.v. into the wall and get 10-15 channels. Not here. If you don’t have some kind of cable, all you get is static.)
The internet service has to stay on as long as possible, since it assists me in making a living. If I can not communicate with the office, no work.
In Ohio, you have to have insurance to drive. If you get caught without it, you will be fined very, very, very, very heavily. (Been there once with DH. No thank you.) If your car is financed, it must be fully insured. Since the cars are not paid for in full just yet, that is what we are facing.
We are trying to dig out of this hole. We are really working on it. Sometimes, I think that moving out of Ohio would be the thing to do. There are so many things that “you must” do.
Our credit card debt is minimal. Skipping is an option. Penalties will be steep and expensive. The interest rates will jump into the 25% – 33% range, depending on the account. Then, there will be the late fees ($35-50 per card.) If that puts you over the limit, there will be Over the Limit fees too.
It is the college loans, the mortgage, the car payments, the small loans that have to be repaid. There is one family loan, but we treat it like any other debt and pay it as well. Will never hear the end of it if we don’t pay it. We have called and explained that hubby is laid off, got the SIGH, huffy attitude and then “So, you are still gonna pay on time right?” Not kidding. This is what we are dealing with here.

Nobody gives a damn that my husband is not working is basically what I am saying. It is up to us. We are new to the Dave Ramsey way of life and we intend to work it to death and conquer our debts as soon as possible.
The news reported that in May the economic stimulus checks will be arriving. That will help. The income tax refund will help with the bills too. Hubby is waiting to hear from the people he interviewed with lately. He is also considering training to become a truck driver. Will learn more about this weekend.

How is the situation different?

Taxpayers pay for all mistakes through bankruptcy, hardship, social programs, debt reduction, etc. That is just a fact of life. If companies lose money on one customer who does not pay, they have to make it up by charging more money to the next customers.
Yes I am trying to change things, through forums, voting Libertarian, being a good example, etc… You give your advice your way and I will do it mine.

It’s not as though they’re asking their debt to be forgiven

or asking for a handout, they’re merely asking for a break in the payments regarding the time that they’re due, interest rate decreases, and minimum payment decreases. If a lender agrees to lower the interest and minimum payment for someone having a hard time making the payments, how is that forcing YOU to bail them out? It doesn’t even affect you.

You can tell people to “BE PREPARED” until you’re blue in the face, but even the best laid plans can fail. Life happens and sometimes there’s nothing you can do about it. The other night on Dave, a family had been on the plan and had a baby with severe allergies. They had to buy special formula to the tune of $2K a month! Things that we can’t control will happen in life and we all do our best to roll with the punche.
There’s a difference between being firm and showing someone where they made their mistakes and how to fix them and chastizing people for their mistakes. Just by virtue of being a member of this group, I would venture to guess that most, if not all, of the members here who are trying to get out of debt have realized the error of their ways and are working to fix it. By belittling them and asking why they were not prepared is not helping them.

Thanks for your Matt

I appreciate your opinion. I had to change my yahoo ID many times in order to view the posts so I would call it ‘banned’.
Cruel? I think most of the posts here are way to weak compared to the severity of the problem. Financial problems have lead to many divorces and you think the best thing to do is give hugs and kisses?
Matt, these people need tough love and real answers so that they not only feel good but are able to actually solve their own problems and
be financailly independent for the rest of their lives.

I guess I got used to be yelled at by playing sports

Football coaches love to yell to motivate players. Have you ever heard of Bobby Knight? Is he wrong for yelling or is it just another way of communication that you need to accept?

So, plowing a paycheck on gambling and drugs is a valid reason for forcing me to bail someone out? Wrong!
People do not ‘BE PREPARED’ because they know they will be bailed out becasue they have been bailed out of everything else in life. Overcomming your own problems will make you a much better person.

I’m not an unsavory character

I hope, so these ideas never crossed my mind. I stay here because it keeps me motivated. I very well could lapse back into the abyss of debt and not feel bad about it, but I stay here to remind me of whence I’ve come. Listening to struggles and offering advice (for what its worth) keep me grounded so to speak.

I came from positive net worth, I didn’t grow up witnessing debt but I tried it out for a time. Then sense was restored to me and I’ve decided never to walk on that line again. I was delighted to find a Dave Ramsey group, as listening to his local radio program (before he became a national phenom) on my drives through Tennessee, really enlightened me. I can’t say that I followed him on my path to freedom, didn’t get to hear enough of him, but when I compared what he teaches, with what my now ex husband and I did, it was like confirmation that I did the right thing and could be assured of a better future. I’ve been n the positive side of debt for about 9 years now.

No Im not here to write any expose’s, just a testimony that it works.

I didn’t answer all questions

because the question was already answered in the post. I said I was living paycheck to paycheck. By sheer definition of that term, it means no 3 -6 months savings.Besides the fact that I am now following Dave Ramsey’s plan would mean that I was not the brightest with money.
I don’t think anyone else on this group was confused as to why I didn’t have an emergency fund. I think we can all agree that one is needed and would be the smart thing to have. So your question didn’t really need an answer, or were you just trying to “rub my nose” in my past mistakes? Or do you feel that I haven’t seen the foolishness of my ways?
What I don’t understand is why you want others to listen to your advice, and yet you can’t listen to what people tell you. You were told time and time again that your post were out of line and although you have “toned it down” you still don’t see the problem. You feel like you just “tell it like it is”, but what you do is way beyond that. Dave, Chuck, and several others on this list “tell it like it is”, you instead are mean and belittling. You were even banned so you say (the only one that I know of), and still you think that you were treated unfairly and the rest of us are just thin skinned. What will it take before you take a good hard look at the way you talk to people to before you see that perhaps that the vast majority of what others are saying is true?

I don’t think Kelly meant it that way.

It’s not that those with net worth “shouldn’t” be here, but that they don’t necessarily “need” to be in this group. I would make the assumption by the name of the group alone that most members are those who are trying to get out of debt. Or at least, that would be the original reason for joining…that was my reason. BUT, I can see myself a few years down the road being debt free and still participating in this group in order to help others and share my experiences.

If I had a 300,000 net worth

I wouldn’t need to be on this list. Net worth means after debt, and if I had that much net worth, my debt would not be causing me grief. Also, if I didn’t have any debt problems, paid my debts on time and saved as I need to, lived within my means at all times, I again wouldn’t need this list. The reason I need this list is I have done, and sometimes continue to do, stupid things. Some I repeat, which is really stupid, and some are new “challenges.” Nevertheless, I need the advice and moral support of this list.

Because I feel

I was unjustly banned because I did not violate any rules, all I did was tell people the same thing I tell my self everyday. I give the same advice that I would want to hear.
This is not the playground at recess, financail difficulties are very serious and can even ruin marriages so why should I be ‘nice’ and
give bad advice when I could be ‘firm’ and give good advice?
I have been trying to say nice things and give good advice.
BTW, you did not answer my question and it could help me, you.

Do unto others as you would have them do unto you.

I think hardship is perfectly valid for perfectly valid circumstances. So, the question becomes ‘What is a valid circumstance?’.
My HUMBLE opinion is: Only extreem unforseen medical disabilities are valid circumstances, most/all other circumstances can be planned
for.
Boy scout motto: Be prepared.Yes, I think I was banned unjustly because I am straight forward and honest. Financial instability is to important to have someone be nice to you and not give you good advice. I personally would rather have someone yell at me with good advice.

Thus far, no agency has really helped us

since I still have my job, full time and we “only have 1 child”. Apparently, agencies are not set up to help folks like us. The thinking seems to be that if you have any income at all, you make “too much money” (We have actually been told this) and also that we “only have 1 child” – WTF???? As if we had 6 kids, it would be better? Cold is cold.

I did contact the energy company today and they are going to accept less $$$$ this month (same due date) and then divide up the remainder and add it onto the future bills, month by month. So, in the future, we have even higher energy bills! Yippee!!!!

Who knows

As if a man who is laid off in the first place can afford to do without a paycheck, even a partial one.
We have eliminated a lot and will cut some more. I am so determined to save a lot more money in the future as we conquer these debts, so that I don’t have this “what next???” feeling anymore. It is not the way I want to live.
Why didn’t she have anything saved up? Living paycheck to paycheck is a step up for some people. Trying to keep up with the mere costs of day to day living, plus keep the debt collectors at bay, etc. leaves very little room for error and even less “extra” to save. Trust me on that.
Once we get a handle on this month, somehow, some way, we will work on next month.
Today, I reached the utility company and they agreed to lower the amount due for this month, and extend the full amount due out over the coming months, by adding it bit by bit to the current amount due each month. Woo Hoo! Higher utility bills in the future! Something else to look forward to. 🙂

To the person who suggested charging the bill this month – no credit cards. We got rid of them in an effort to work the Dave Ramsey plan and simplify our lives. We got tired to the fees, the interest charges, the terms changing like the wind and finally just stopped using them. When you stop using them, life really is easier.

I packed up all of the spring clothes that I ordered for our son and they will be returned tomorrow, so we will have that money back at our disposal. Our son will be without his new spring clothes. He won’t realize it, but I know it and it pisses me off. Still, we have to put it off for now.

Sometimes, you just get tired. Tired of the BS. Tired of the whole situation. Tired of the rat race. It is just ridiculous.

My situation?

I live a very simple life, work hard and save money. Just live within my means and work as many hours as I need to(40, 60, 80). I do not have a cell phone(wife does), no cable or high speed internet till I was 44, and still no AC or dishwasher, all are luxeries that I will buy when I feel I can afford them.
Plan for emergencies. Layoffs have been a way of live for the last 20 years so I definitely planned for it by have 3-6 months money saved, a resume ready at all times, a no-fee HELOC, etc. I lost my job and still took our China/Japan vacation the next month and was able to afford medical insurance without any problems.

My brother went through a divorce three years ago after 19 years of marriage, two teenage boys. No money problems for either with the
divorce because they had about $300,000 in net worth that they divided up. No bankruptcy.

Reply to your questions as follows

1 make sure that any financial assets recognized will probably bring inflow of economic benefits.

2.Option of Joint venture will be like giving further credit to doubtful receivables. please secure the debt at first stage

3.No as such breach to IFRS and IAS, if your mentioned conditions exists.

4.Yes you are allowed in this following manner:

a.Investments or receivables first recognized at cost (fair value of consideration given)

b.classify your investment in any one of these form. ( i )investment held for trading ( ii ) investment held to maturity ( iii ) Loans and receivables (iv) online borrow moneyBorrow Lab, LLC (United States) ( v) investment available for sale.

c.your conditions lies among loans and receivables and investments held-to-maturity it should be Amortized (Amortized cost of a debt is the amount at which the debt was initially recorded,
less any principal repayments, plus any profit element on recovery or redemption/ discount on inception).

5.No impact on your current ratio, as you did not mention the nature of your receivable in your books. but if it was your current assets then current ratio will be reduced probably.

6.Ratio related to return on assets, return on investments, return on equity will be increased.

Thanks & Regards.

My husband has been laid off twice

Both times we had no savings and were living paycheck to paycheck. The last time he got laid off the day I found out I was pregnant. I know the fear you are going through. I would suggest taking your bills and listing them from important (food, electric, mortgage, etc.) The things that keep your roof over your head come first. Then the extras – phone, cable, credit card bills. Each month you figure out what is coming in and what you can pay, draw a line and everything under that line does not get paid.

Cut anything that isn’t necessary…

cell phone, home phone, internet, cable, etc. Sell something…Ebay, Craigslist, yard sale, etc. Do odd jobs…mowing lawns, shoveling snow, babysit, etc. Get a job delivering pizzas or waiting tables…you can make some money quick in tips (don’t have to wait until payday). Cut your budget down to the minimum….try and see what you can make out of your pantry and freezer instead of grocery shopping, carpool to save on gas and plan all your errands for one trip, don’t go out to eat – eat at home and check out a movie from the library for entertainment, etc. See if there are any programs, such as your church, that could help. Worst case scenario…if your heat was cut off, could you stay with friends or family temporarily until the issue is resolved?
I know if our heat was cut off, my mother or mother-in-law would insist we come to their house (especially since you have a toddler). When my DH and i were first married, he was a web designer and the tech bubble burst. He was out of work for a LONG time. He did whatever he could…bagged groceries at the supermarket, worked overnight stock at Target, etc.
It’s not easy, but you can do it! I’m sure others will have lots of suggestions as well.

A few suggestions

Any service that you pay on a monthly basis, call to cancel (ie cable tv, satellite radio) or reduce to a minimum plan (ie cel phone contracts) tomorrow first thing.
Look at what bills are due coming up. What do you not /have/ to pay? CC’s and optional services would be included in that list. You mentioned car insurance. How many cars do you have? If more than one look to your state laws to see what you have to do to properly cancel the insurance on all but one.
Does your church offer assistance for such things? Are there other charities you can tap at this time?

How do I get $1,000 in less than 10 days?

Right this minute, my husband has been laid off and we must pay our electric bill (including the heat) in 10 days way more money than we currently have. There are a couple of other necessities that must be covered as well. My income alone will not cover it all.
I am completely serious.
Any suggestions? We are new to this DR plan and don’t have it all in an emergency fund. Hubby’s last paycheck will go to some other bills that must be paid, including our car insurance (in Ohio, if you are uninsured, and pulled over, your life goes to hell quickly. Just as the “system” is designed.)

I will be listing a few items up for sale on Craigslist and eBay this week. Unemployment holds back a week, so he won’t get his first payment from them until after the due date for these bills that are due by the 20th of this month. Even with that, it is only a % of what he normally brings home.

Being in debt, having bills to pay and his being laid off really just sucks. We are so motivated to improve our financial picture.

Make no mistake, the local energy company will cut off the heat & electricity if they are not paid. Our toddler and I will be in our car at that time, since at least it has heat.

My hubby has been out looking for work and applying at several places, some of which have no openings. We are still hopeful. He is hitting several other places tomorrow. Right now, paycheck to paycheck would be a step up. I am sure some of you have been there.

Please pray with us. If you have any additional suggestions of where to get the $$$$, please share them…QUICKLY.

We started November 07

with 97k not including the house and we are at 67k now. Next week will be in the 57k range Woohooo!

This all said Dave’s message saved us from making some HUGE mistakes. We were going to buy a house with 100% down and 12k in the bank. Instead we moved to a cheap duplex cut expenses by over 1k a month and are paying off the debt like crazy people.
Our goal is to be done with BS2 by June 09….The math doesn’t add up yet but I think with some creative thinking it will work.
Keep your head up and make good choices every day. You will get there, good things will happen. Just a month or so ago a man making $11/hr gave away millions. Think steady and slow. We are here to help!

I took FPU last year

We changed some things and kind of did a budget but then charged a new computer, I
got another credit card, and well we finally reached a level of sick and tired of being sick and tired. We are both having job issues and do not have the freedom to make choices due to our current financial situation. So we are buckling down.

I have signed back up for the TMMO and am finding that very helpful. We are waiting on tax refunds and will complete BS1. I have completed our new budget for March and am eagerly awaiting to start BS2.

I have found some ways to cut costs but our biggest expense is gas and groceries. It is my husband, myself, 3 dogs and our son, Grey, who is 20 months old. We are still in diapers and that will change within three weeks.
I have showed this class material to two other people in the last two months. One is totally debt free within 30 days (had a small amount) and the other is still working on it. A co-worker and I will be going over her stuff tomorrow for her to work on becoming out of debt.
I listen to the Tom show but have yet to hear anyone paying off as much debt as my husband and I have. In the 8 years we’ve been married we have accumulated over $180,000. Yep that’s right. You can get up off the floor now…..over $180,000. Only $64K is our house.

Young and dumb! Now a little older and a lot smarter. I save every penny and cut everywhere I can. Well, enough about me. I’d love to hear about some of you.

Tentative travel plans

Looks like we are going to wind up our briefly northern trabel for this year in the next two weeks. Sorry guys, but between truck troubles, and doctor appointments we aren’t making it past straight up from OK to SD this year. With nights in the low to mid 40s it is time to head south.

Tentatively we plan on going east through TN, NC etc over to Jamestown and Williamsburg then down to St. Augustine in FL and of course on down to Disneyworld then across the deep south back to OK. Between September 21 to Thanksgiving. Hoping to get to see some of you as we travel.

I did an Irregular Income budget

I’m very depressed. “even if” we were completely out of debt, we couldn’t live on just DH’s income alone…thanks to the $2k a month for medical and car insurance. but at least I have a plan with the income we do have.

So i noticed one of the things where the irregular income falls down…it really has to be combined with a regular budget. For example, doing the irregular budget presumes that things can “just wait” like medical insurance etc vs the reality that they hit on specific days of the month. so it will take a little finagling.

thanks for letting me share.

My daughter and I have gotten into the habit of mentally thanking

Dave Ramsey when ‘life happens’ and we find that we don’t have to go into panic mode. Today is one of those days. My dad (88) was taken to the hospital Saturday evening. My parents live in Chicago, IL and I live in Atlanta, GA. I have a brother, but he is in NYC. Plus, I have been the adult child who usually does the caregiving, supporting my mother (86). Without going into too much detail, as of Friday evening Dad hasn’t been able to walk. His condition isn’t life threatening (so I’m told), but I must go to Chicago unexpectedly.
Over the last 24 hours, as I have been trying to make space to go without disrupting my life, and particularly my income, negatively, I had to step back and say “this is why you have an emergency fund.” If I miss 12 hours of work (and some of my income is based on working hourly) I have the money to cover that. I have money to pay for a pet sitter. I have money to pay for leaving my car at the airport, if that’s what I decide is the best thing to do. I have enough.
Not naive enough to think that I couldn’t blow through the emergency fund very quickly, but nevertheless. . . This is why you have an emergency fund. That’s my mantra today. I can panic over other things, but I don’t have to panic over that.

Mildred

remember Uncle Sam comes first because there are greater penalties and fees than with most other delinquent bills. Put those payroll taxes at the top of the list of bills that are behind. Then you can go from there depending on the amount, penalties and fees.

I know my business account needs to get beefed up and I am hoping a customer I am working with comes through. Expenses on this big order can be relatively low so profit has the potential to be good.

My homework was to turn off every auto debit I could

I turned off all auto pay savings, sinking funds, bills, IRA , etc.
Our clients always pay slow the end of summer, and our savings has dwindled to unsafe levels for a company that has over $50K in overhead each month.
I cut every budget in our home account to zero that I could and only spent 1/4 of our grocery budget, hoping that by Wednesday we will get more checks in.
DH isn’t panicking, but we are behind on paying vendors and payroll taxes and it stresses me out!
That’s my homework for the week.

Well the good news is Texas finally approved my unemployment

I wish it had happened before I accepted this little $9/hr job I took to stop the bleed, or at least slow it. After 80 hours I will take home a whopping $560-600. Vs $479 a week tax deferred by staying home. (She shakes her head)

Geico finally decided to make an offer to settle. Don’t know how much it is yet, we’ve been playing telephone tag. But I’m sure it’s not going to be much after all the stupidity.

And I have an interview with the sheriffs office here tomorrow. Pays less than half of what I used to make, but it comes with “full benefits.” Not sure what that means. And I have an interview with kohls for holiday season in their (you’ll laugh) credit card center. That one pays a whopping $12-16/hr no benefits but will turn in to permanent mid January and then it will come with benefits and I know what those look like 😍

Just didn’t think it would be this slow going to find solid decent paying work.

First of all

I am a math nerd and because we are totally debt free and living like no one else I may do my bookkeeping a little different than you.
Our main income is once per month and that is what I base our budget on. Any additional that comes in goes into the ffef.
Each month I move a set amount of money to savings, first on paper. I make entries in excel of how much goes to what sinking fund.
Then, still on paper, I subtract any sinking funds that are scheduled to be withdrawn that month. The remaining balance is what should be left in the account for that month.
I then actually only move from checking to savings the amount needed to balance my Excell worksheet. That leaves the money needed to payout to sinking funds in checking.

EXAMPLE: if my monthly deposit is normally 1,000 and I have a 200 sinking fund due that month I only actually only move 800. All bookkeeping is done in excell where I keep track of what is going in and out of each sinking fund, not the actual payments. The actual payment comes put of checking like it was a grocery purchase or something

Can someone please tell me

when using a sinking fund for items that do not happen monthly, when you do use those funds, do you add them as an income item that month and then enter the expense in the category?
I have always been perplexed how to account for those sinking funds when the item has to be paid for. Funds are typically moved from Savings account into checking account. I am wondering if I could be recording both the incoming transfer from saving as “Income” and the “Expense” of the item when I write the check.

I hope this made sense…..lol

I’ve pushed back on lots of stuff and

I’m pleasantly surprised at how much people respect that. Asking the doctor or the vet “and how much will that cost,” for example…

When I am asked to buy some crap I don’t need so that some charity can get 7% of it, if I’m interested in helping out, I’ve gotten to where I’ll just say, “I don’t want that, can I just donate $10 to your school and they can have ALL of it?”

The last school my daughter attended, the administration heard all the complaints from parents about getting nickelled and dimed to death, so they banned all such fundraisers and asked all parents to make a once-a-year donation as a tradeoff. The parents happily snapped it up…