Ah, the classic, “more expenses than income”

Just from the monthly numbers(not counting arrearages), I get $2900 coming in, and $2941 going out. I was in the same situation a month ago, except I was more than $500 (Cash Advance Loans Online) short every month. My first suggestion would be to call all the credit card companies(9 if I counted right), and see if they have a ‘hardship program’. You may be able to get the interest rate, or payments(or both) dropped for a period of time. That’s the big thing that temporarily saved me.
2 – You have two vehicle payments. Do you only have the two vehicles? The reason I ask is that if you had 3 or 4, maybe you could sell one of the ones you’re still paying on, and eliminate(or remove) at least that monthly payment.
3 – Ask your dentist if you can get a 6-month moratorium on payments.
Depending on how long you’ve been using him, he may cut you some slack on paying.
4 – I’m curious – how big is your house or apartment? $120 for electricity seems high to me.
5 – do you have any extra stuff around the house to sell? You can use ebay, craigslist, local cheapcycle groups. You can sell books through amazon and half.
6 – can any of you work another job? Since you have 4 drivers, I’m assuming that at least two of the kids are old enough to also get jobs and contribute towards the household. I don’t think I’ve ever seen anyone suggest that the kids help, but they *are* part of the family…

We just signed the paperwork

and cut a check to start an Endowed Scholarship at the college of business at The University of Houston. The winner will be an Honor Student in the Business College. The endowment will be $25,000, but thanks to wife’s job, they will match funds so we only have to contribute $12,500. We hope to grow the scholarship to $100K one day.

Late getting to this, but not much is going on

I’m still on BS3(yes, I’ve been lazy). If I *really* worked on that, I could get the FFEF done by the end of the year. I’ve been spending too much money on music equipment and rockets, though…

Well, the only debt right now is our mortgage

Fortunately, I had been paying extra on everything prior to my DH’s “retirement” 4 years ago. We opened a karate school 2.5 yrs ago and we are looking to expand. So, it looks like we will be taking on debt to do that. Our rent right now is ok, but we are outgrowing our location and even if we stay and expand in the building, our rent will double with no real way of adding things like an afternoon program, expanding summer camp, adding classes. Our best bet is to either purchase an existing building or purchase land and build. So, it looks like we’ll build. Scary time, but looking forward to growing the business.

Woohoo on all the success over the last 4 years

My dh is a ham operator. AD5YP is his call sign. He isn’t on as much as he used to be but he does a local net and hurricane net when he can.

Not much to update here. Our only debt is our home. We have a fixed 15 at a rate of 2.75%. We have paid extra on it ever since we took it out about 5 years ago. The original mortgage value represents about 1/2 of the home’s value when we bought it. We have paid down about 1/2 of the mortgage balance.

We are filling envelopes every month for our spending. We do a monthly budget to arrive at the amount for the envelopes. Since we have only one debt the budgeting consists of minor tweaks each month … no crying, no hair pulling, no arguments. Cool as cucumber. Life is good when debt is $0.00 (or almost $0.00). vbg

The next thing to really alter our finances is January 2017 when obamacare causes our health insurance to go up about $300/month for dh and me. Dd’s will go up about $30. I thought Obama care was supposed to cut our health expenses about $2500? Since we have no consumer debt to eliminate to make room for this increase, I am not sure where it’ll come from. Our health insurance is already running MORE than our actual house payment (not including the extra we send in). After those 2 expenses, the rest of the expenses are pretty average. When you look at DR’s recommended percentages, our health insurance runs roughly DOUBLE what it’s supposed to be based on the recommended percentages. I think in light of obamacare and self employment (or contract workers) he needs to revisit this.

Hey folks, it’s been a long

LONG time since we heard updates from everyone and how we’re all doing on our various DR stages. (If we did do an update recently, I must have missed it). And let it never be said I’d suggest something without being willing to do it myself. Ahem:
We’re still on step 2 of the baby steps, paying down debt. I’ve cut my debt from roughly $35K when we started 4 years ago to just about $10K today, on a single remaining credit card. While that might seem to be taking forever, which sometimes bums me out, I’m more excited about two other ongoing projects. First, we’ve dramatically cut our living expenses over the last 4 years, such that we’re very comfortably getting by on roughly half of what we were spending before we took the FPU class. Second, we read through a series of business management books which target how to make small businesses go from barely scraping by to thriving (titles: The Pumpkin Plan, Profit First and Surge all by the same author, Mike Michalowicz. He brings to business management (particularly financial management) what DR brought to personal finance. He does quote DR in a few places which gave me warm fuzzies, and like DR he has practical and proven suggestions, along with worksheets and homework, so that we can take a reading on how well we’re doing and how to get where we’re going with the business. That has made a huge, HUGE difference for us.
The other major update is that we’re now within the 2 year countdown to pay off the house. One of the smartest things we ever did, well before DR, was to refinance a risky 30 year adjustable rate loan into a low fixed 15 year loan, and that loan has almost reached maturity. So May, 2018 is our last payment if we don’t make any advances before then. Which, after we pay off my credit card, will be the last debt on the list. Wow. I still can’t even quite imagine being debt free, but now I can see it approaching.
On an unrelated side note, this coming Saturday morning I’ll be taking the Technician and General level exams for my amateur radio (ham radio) license. I’ve been studying a lot for those tests, and I feel pretty good about them. So if there are any hams on the list, you’re about to be joined by one more. Woohoo!