Is there anything you've stopped doing to earn or save money once you completed your debt relief program? How do you feel about that?
Critical Illness pays a lump sum tax-free pile of money if you are diagnosed with an illness (or have an accident) that is on a predetermined list. Depending on the policy you choose, there can be a lengthy list of illnesses, but the main ones (that garner the most claims, and are covered under most policies) are heart attack, stroke, and cancer.
Less than an hour later, I was on my way to the mall with three very chatty twelve year olds in the back. My daughter had her cash in her purse, and it was understood that she needed to be responsible enough to determine how much she wanted to spend, as well as whether each individual item was worth it's cost.
I know that feeling, too. I had to take some drastic actions to keep our finances from completely falling apart.
There must be other reasons to not have or stick to a budget; but, the ones listed above and any others you might think of are all bad reasons. Let's focus on some good reasons why having a budget is so vital to building solid financial habits. It may change our perception of following a budget completely and, maybe, even convince some of us to get busy working on a budget plan.
What is it about a cell phone that people object to when it comes to children? Let's explore.
In this series on hedging your bets, we'll explore various types of insurance, how to evaluate whether they're good investments, and ways to structure your policy.
It's been over three months since the final payment was made to my debt consolidation plan, and I'd like to share with you my favorite things that have changed with our finances.
I think I have just convinced myself that I don't really have a need to buy bottled water; especially since the majority is reprocessed tap water. Why pay for what I already have?
This duplication of data may seem unnecessary to some, but for us it makes our discussions go so much easier since we are each looking at information that makes sense.
I can't begin to tell you how delicious the frozen Asparagus was during the winter and what a savings!
It reminded me a lot of a phone call I made on July 1st, 2009. That was the day I enrolled in the debt consolidation program
Hopefully, you have disability insurance, either through a group/employer, or individually. Let's explore the basics of disability insurance, including a few things to beware of.
Now that we have completed our debt consolidation program, my wife and I are finally able to look at doing some things that we had delayed as we made our final sprint towards the finish line.
Many people believe that you cannot do anything with the over ripe or almost expired foods that you find at the discount rates in the grocery store. However, the fact is you can save a great deal of money purchasing these items on a regular basis.
Had we been more diligent in determining how much we needed to send for our final payment we would have not had to deal with this situation at all. That being said, you would think that the credit card company representatives would be able to answer simple questions about how their overpayment refund process works.
We know we should have made changes. I know we should have changed our withholdings to increase the amount of taxes taken from each paycheck. In Vonnie's case we may have had to dictate a specific amount to be taken out of each check.
This time I'd like to talk about things that I did each and every month to make sure that everything was on track and running smoothly.
With accounts at different institutions and bills with varying due dates, budgeting is difficult.
All together we spent about two and a half hours discussing out finances. Our discussions on non-payday weeks are a little shorter, but it is a fairly accurate representation of how long we discuss our finances each week.
Sometimes, they would all start singing old songs and a few would actually dance. Everyone brought something to share - lemonade, cookies, popcorn balls - lots of super good stuff. This could go on until 10 or so which was timed with when their houses cooled down from the summer heat. No central air conditioning in those times and most did not even have a window fan.
But even as that final withdrawal was taken from our account, I didn't cue the trumpets just yet. I wanted to see all my creditor balances at zero. On Friday, February 7th our payments had all posted, and we were officially DONE, and $109,000 of credit card debt was officially GONE
I was very upfront with the banker, telling him everything about our credit card debt, and our enrollement in debt consolidation plan. After reviewing our information, including our income and debts he thought we had a good chance at being able to get the interest rate lowered on our line of credit.
The bureau just released two bulletins for the industry, reminding debt collectors to avoid misleading consumers about how paying off debts will impact their credit worthiness, credit reports and credit scores.
I can say now that it was the best financial decision my wife and I have ever made, but at the time it wasn't so cut and dried. Although I'm rather transparent about our journey here in the CareOne Community, we kept it a secret from our friends and family for a very long time.
In addition to the blogs, be sure to check out the new CareOne Groups:
Are you finally out on your own and figuring out how to balance your finances? If so, this is the group for you. In Starting Out, you can talk about the challenges you are dealing with in a group of like-minded people.
Do you feel like you are finally understanding what being a "grown-up" is all about and are settling into your adult life? If so, this is the group for you. In Settling In you can connect with others who are just like you.
Struggling to balance all that an established lifestyle has to offer? The balancing it all group is for you. Discuss the challenges you face when your responsibilities at work, at home and with family and friends all compete for your attention.
Are you currently retired or planning on retiring very soon? If so, this is the group for you. Times have changed and so has retirement. Learn how others are redefining retirement.