Single and Settling In

Single life has its own unique challenges, personally and financially. Hear how these bloggers are making the single life work for them.

Ready Or Not Here I Come!

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A new year.  There is something about taking down Christmas decorations, closing out a year of files, and anticipating what the year to come will bring that feels a bit refreshing; a new start. 

For me, 2010 holds quite a bit of excitement...first and foremost it will be the last year that I am "single and in debt" - yep, got engaged over the holidays, at this time next year I will be "married and in debt"!  Which I assure you will be an interesting journey as well.

I look forward to sharing planning a small, inexpensive wedding, with a huge extended family, and adjusting to a relationship with my debt and his! 

I am very excited that I am another year closer to paying off my debt - I love watching that number go down!  As time goes on, I am so thankful I made the decision to become debt free, I can only imagine where I would be if hadn't turned to CareOne. 

Another financial resolution that I am hoping turns out in my favor this year, that a lot of people may be going through, is re-financing.  When I bought my home five years ago, I got into an Adjustable Rate Mortgage (ARM),which as I now know was great at the time - now not so much, as I am entering my fifth year of it.  Add in the crash of the housing market and the value of my home dropping to below what I owe on it, and all in all, not a great situation.  Here's the deal.  Once I realized what an ARM truly was, and that I was going to be in my house longer than I anticipated, I started to be proactive and calling my bank and other lending institutions to find out my options.  Turns out, I didn't have many.  Even with the government programs being rolled out to help, it always seemed like I was on the short end of the stick.  I made too much, or too little money, I wasn't in jeopardy of foreclosing, my credit score was too good, or even my property value had not dropped low enough yet.  Needless to say, very frustrating.  So, I made the decision to ride it out a bit to see what the market did. Well, this is the year.  My ARM expires in July of 2010 which means I have seven months to come up with a re-financing option that makes sense, or take my chances on what the rate will be when mine expires which is a little like gambling.  Did I mention I hate gambling? So, if there is anyone else going through this - let's talk!  Let's share ideas and resources. I don't want to go through this alone.  I will keep you posted as I work through this process, hopefully it will have a happy ending!   

  • I think with your attitude - whatever happens will be a happy ending.  You are so positive and sure of what you want.  Hang in there, CONGRATULATIONS on your upcoming marriage and believe me, your getting out of debt (unsecured at least) can only help your cause!

    Good Luck!  

  • I can't help but be excited for the year to come!  Three years ago it was dread each year after Christmas becasue I would put myself further behind with holiday spending.  Thanks for the well wishes - you will be hearing all about it...good and bad!

  • Year number three of informing friends and family that I refuse to support or condone the corporate brainwashing of American's by going out and spending tons of money on greedy materialistic individuals who have no idea what the true meaning of Christmas really is.  The end result; I have saved a small fortune 3 years in a row, removed a lot of stress from my life and I am very comfortable and happy with my decision.

    We can all sit and complain about our debt but at the end of the day we've no one but ourself to blame.  Get up off your pity pot and do something about it.

    And you're going to get married and combine "your debt" and "his debt".  LOL, good luck with that!

  • I have said in many  of my blogs that there is never anyone to blame but ourselves for our debt.  I have paid cash for everything I have bought for the last 2+ years and look forward to doing the same while planning a wedding.

  • I'm really happy for you!  I am new to this debt free thing but have tons of debt building up in school loans.  I am looking forward to getting rid of that and my credit card debt.  I enjoy your optimist and wish you nothing but the absolute best!

  • Thank you!  You have to be optimistic or you will get frusterated.  You will do great.  Student Loans - I know them well.  Use the resources that CareOne has to offer and get ideas from this site.  It helps and is encouraging.  Find a program and stick with it - you will do great!

  • Here's a concept for you.  STOP SPENDING anything at all.  No cash, no credit, NO SPENDING.  Period.  End of story.  Save yourself a lot of money in the future and celebrate the true meaning of Christmas and STOP feeding corporate greed and your materialistic relatives and friends who WANT WANT WANT.  Don't spend anything on Christmas.  The TRUE meaning of Christmas is FREE.  It doesn't cost nor does it suggest you should spend a dime.  You pretend throwing cash out the window is better than charge, charge, charge.  Well guess what.....throwing cash out the window is just as irresponsible as charging what you can't afford.  Can you afford to throw this cash away?  Can you?  Oh yeah, your "BUDGET".  Big deal.  If you could afford to throw this cash away you wouldn't be in a DMP.  Grow up.

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