Debt Report Jan 2008
Debts Paid in Full Report
- Debts paid in full: 5
- Amount paid in full: $2,659
Status Report:
- January 2008 payments: $597.12
- Total amount of payments made to date: $6,529
- Debts left to pay off: 12
- Next debt in line: at&t advertising and publishing: $577.40
Balance Report:
- Current Debt Balance: $160,868
- Balance change since last month: $3,056 (decrease)
- Balance change since starting the plan (April 2007 plus the principal on new debts that have come up since): -$1,322 (increase)
The first question those of you who have been following my debt reports will probably ask is “why is there a decrease in total balance since last month with no extra payments”?
Answer: Two debts were sold to other companies, and interest and other fees were dropped from those two balances that totaled $2,459.
Business and Career Plans and Progress
I’ve dropped the business down to only as needed, meaning if anyone calls and wants an appointment, I’ll see them and earn some money. Otherwise, as soon as each advertising contract expires it won’t be renewed. I’m dropping my Garrett Planning Network membership, but I will keep my registered investment adviser license through at least 2009 until all the company’s obligations are taken care of, except the debts. As long as the business remains open, even if it’s not operating, I have to stay registered by law. Going to nearly zero operation will decrease a few costs, but the majority of the costs are contracts and debts. All contracts will expire by the end of December 2008 or sooner. Remaining open very part-time will pull in some income and that will cover some of what I have left to pay.
I’m increasing my tutoring hours to as many as I can get while I find a new job that fits my vocation.
I finally received 48 Days to the Work You Love by Dan Miller. I also got the workbook. I finished reading the book and I’m working on the steps in the workbook as Dan suggests.
If you’re not happy at work, or like what you do but not what you make or your prospects for advancement, I highly recommend reading this book and working through the workbook. It’s nothing short of enlightening.
One thing I’m quitting doing as of today is running around to a bunch of little jobs to make a little extra money and focus on finding a full-time job with good pay. I will probably have to reduce my tutoring hours when I start working full-time, but I’m keeping as many students as I can manage because tutoring pays a lot and I really enjoy it. I also don’t want to leave my students mid-year if I can help it.
The decision to close my business has lifted a huge weight from my shoulders. It didn’t turn out to be what I really liked doing, it wasn’t successful probably because I wasn’t enjoying it, and now I’m free to move forward.
I will also continue blogging because if I couldn’t write, I think I would go crazy. My blogs allow me to express my thoughts, ideas, and feelings. Without them, I’d be back to writing by hand in a paper journal or typing into a Word document that I’d have to back up myself. I also wouldn’t have all you folks whom I’m blessed to have reading my posts to leave comments and keep me in line or keep me going. Y’all do both. Thank you!
I’m not even going to discuss progress or possible goals or how much I’ll have to make to pay all this off. It’s pretty clear that the smaller debts will probably be paid in full and the larger ones will be settled for pennies on the dollar when I’m making enough money to pull some lump sums together. Those who won’t work with me will go to the bottom of the snowball as Dave Ramsey advises.
Sherri Joubert
Finally moving forward in life
I’ve been looking over your debt reports and being sued. I found a program that I use and it is helping me climb the rungs back out of debt. Each month I get a report showing me whats going on and how etc. I am putting the link here directly so you can take a look at it. They wont let you sign up without a referral so if it looks interesting to you I’ll get you a referral code. The url is http://www.financialdestination.com
If you choose not to use there plan, I hope everything works out for you. My email address is in your wordpress system under users if you would like to get ahold of me. Good Luck!
- SJ
Comment by SilentJoe | January 21, 2008
Yahooo!!! That’s some great progress!! Do you have a budget? If not, I would HIGHLY suggest doing one. I started doing a budget for January, and suddenly we have over $1000 a month that we aren’t spending. Also, on the income side of things, you can make a lot of money cleaning houses. I would suggest charging $25-$40 an hr. Obviously this isn’t going to be a career move, but in brings in a lot of cash. Good luck with the career!!
Comment by steph885 | January 21, 2008
Oh, and I can’t wait to see that AT&T debt go away for good!!
Comment by steph885 | January 21, 2008
Silent Joe: Thanks, but no thanks. I have a plan and I’m working it. It’s slow going now, but it will start moving faster soon.
Steph885: I do a written budget every month and I’m a member of MyTMMO.com. That’s where my budget resides. I think it’s the same software they use in FPU, but it’s on their server instead of your own computer.
I cleaned houses last summer to fill in when tutoring and my business were slow. I made a fair amount of money, but it killed my allergies. I’m allergic to house dust, dust mites, and cats; and every house I cleaned had a cat! By the end of the summer I was wearing a cartridge respirator while I was cleaning. I think I’ll deliver pizzas or mow yards when I need to fill in next time. I can make $45/yard here for mowing, edging and blowing. Doing the flower beds is $20/hr. It’s amazing how many people don’t like to weed.
Comment by joubess | January 23, 2008