Economic fun times

[smeddley]

Today's maudlin rant was brought on by this weekend's realization that we need a new driveway. I'll post pictures later, but it's becoming obvious we really can't put it off much longer. This is probably going to cost somewhere in the neighborhood of $5,000. And it also means I really, really, really should put off re-doing the floors in my office and craft room. As much as I'd like it, the rugs are serviceable and it's better than losing a car in a gaping crevice. I've called a few places and we're getting estimates this week. It's depressing, because even though I knew it was going to have to be done, I really don't want to fork over the money for something so very... un-fun. Plus I paid our Discover Card bill today, and about had a heart attack.

I realize I am no where near as bad off as a lot of people. There's no danger of a car being repossessed or my house being foreclosed on. The one credit card I have that carries a balance is being paid down, as is the HELOC (well, it was, but the driveway is probably going on it...). I have a (very) modest savings account. Still, every time I see how much money we spend and how much we owe it sends a shiver down my spine. In these uncertain economic times I don't know if it'll be better to pay off your debt as fast as you can, or to let it ride, since it won't matter if the economy collapses, anyway, and we may as well enjoy it now.

Usually I try to ignore it, figuring I'm still more or less on pace to pay off my debts somewhere in 2010, and there's not a whole lot (okay, there is, I just don't want to do it) to accelerate that. Sure, I could get a second job, but how much would I really make? I'm only willing to give up one or two evenings, at most, and at $7-$8/hr that doesn't make much money. Almost all of the 'work from home' jobs are complete scams, and I don't really want to leave the house more than that once I get home from my 'day job'. So that brings us back to not spending so much money.

Two of out biggest (non-utility) expenses are: entertainment (books/games/DVDs) and going out to eat. There's not too much I can do about the first - I've already cut back on buying DVDs and am getting most of my books from the library (though someone else still spends a fortune, it's cheaper than going out to the casinos or movies, so...) and am trying not to buy new games until I've played all the ones I have (quite a pile still to go - JewelQuest III, for one, hates me and never wants me to finish). The second, however, is probably on me. I don't much feel like cooking lately, and have started taking the easy route. I need to start planning meals and actually making them.

So here are my goals between now and Thanksgiving:
* 1,667 words per day (NaNo)
* No non-food/gas purchases with the exception of the new Futurama movie, the Fraggle Rock collection, and Season 4 of Dr Who, and 2 skeins of the white one-pound yarn on sale at Joann's this week (I have 2 blankets I need to finish with it) There's also an exception if I see a specific present I've been looking for. Oh! And I'm allowed (obviously) to use the gift card I got from Discover to buy the items from Sears (the griddle for the stove and whatever else to use up the balance). But no more impulse buys. If I can't manage that for three weeks... *shakes head*
* No more than 1 meal/week eaten at a restaurant. Also, attempt to cook healthy food. Tonight, however, we're having french toast and sausage, because I need to use up that bread. Tomorrow I'll make something healthy.

And I promise to report if I break down and mess up, and I expect y'all to hold me accountable. It would be really nice to have at least one small Discover Card bill this year...

Comments

[aeamek.livejournal.com]

Good luck with that word count. Thassalotta words.

[smeddley.livejournal.com]

I know better than to think I'll do it that way - one year I only had 25,000 words three days before the end of NaNo and still managed to finish! There's a cult group of people that start at midnight on Nov 1 and write until they have 50,000 - usually by the next afternoon. THOSE are the crazy people.

[aeamek.livejournal.com]

This whole thing seems kinda culty to me (present company withstanding, of course).

[smeddley.livejournal.com]

Eh, it is a crazy thing. I don't know why I do it, other than to say I've done it. I'm really not motivated this year, though, so it might be my year to fail. :(

Some Advice

[(Anonymous)]

Hello, I bumped into your posting, and as a former debt-burdened individual, I really must offer you some advice.
In your post, you said:

"So here are my goals between now and Thanksgiving:
* 1,667 words per day (NaNo)
* No non-food/gas purchases with the exception of the new Futurama movie, the Fraggle Rock collection, and Season 4 of Dr Who, and 2 skeins of the white one-pound yarn on sale at Joann's this week (I have 2 blankets I need to finish with it) "
OK, assuming you're not joking, with the exception of the yarm, 100% of the list you made is non-essential purchasing. I'll guess that, less the yarn, that's $100 in spending you might better put to the driveway project.


"There's also an exception if I see a specific present I've been looking for. Oh! And I'm allowed (obviously) to use the gift card I got from Discover to buy the items from Sears (the griddle for the stove and whatever else to use up the balance). "

Use the giftcard - GOOD! "Specific present" - Not so good. That's "free-range shopping" and it's a horrible habit. You knit? Knit your gifts this year. Have some fun with it. Know a smoker and you want them to quit? Knit them an ashtray.


"But no more impulse buys. If I can't manage that for three weeks... *shak"s head*"

Good that you recognize this as a problem - it is a big problem for all of us. Think past 3 weeks, think "lifetime".

" No more than 1 meal/week eaten at a restaurant. Also, attempt to cook healthy food. Tonight, however, we're having french toast and sausage, because I need to use up that bread. Tomorrow I'll make something healthy."

No, that's still too much if you have any debt. Dining out is a habit, like any other and it's very, very, very hard to break.

But, based on what I've read here, you're already "awakening" to the way to get past the current pile of bills, which puts you at a big advantage.

You can not only write and write, you can save money too. It's just bad money habits that got us all here.

Stop and think about what you NEED and make sure you're not blending NEED and WANT, and then be realistic about what you WANT.

Re: Some Advice

[smeddley.livejournal.com]

Ah, but my definition of 'in debt' is very different from most people's. I don't have any problems making any of my bill payments, have only one credit card that I *could* pay off but I'd rather have the money in savings, no car payment, and only the HELOC really hanging over my head (which was used for home improvement, NOT debt consolidation).

If I was really in a bind I'd give up my cell phone ($70) my cable ($170) and my gym ($107). But, again, I make far more than minimum payments on EVERYTHING (including my mortgage!) so I think I've earned the right to buy some things - just not the $3K a month we're prone to spend these days.

And, yes, I could pay off the HELOC much faster if I gave up all of these things, and/or got a second job. But why in the hell would I want to live such a miserable existance for a year? It's a balancing act when you have *any* debt - either being debt-free or limiting your life so much it's no longer fun.

Even with my free-spending ways, I've paid down well over $10K in debt in the past year. Do I want to stop impulse buying so much? Yeah, especially when it comes to craft stuff because, frankly, I can't keep up with all the things I buy to do! That's mainly where the 'no impulse' comes from, my 'problem' in craft stores.

That present I made the exception for? Yeah, I bought it, and it was $8. Not exactly going to break the bank. And, honestly, not everyone is happy with hand-made gifts. I'd rather spend the money on a CD than have someone look at something I spent hours and hours working on and say, 'oh, thanks...'

Yes, I know that serious debt is a problem for a lot of people. And, yes, I have debt, but it's not insurmountable, not to the point where I can't go out to eat once a week! Mostly not going out to eat is about the 'healthier eating' part, anyway. And, honestly, even if I had the money, I'd still complain about the driveway. It sucks to spend that much money on something so... unfun.