tag:blogger.com,1999:blog-221299112011-04-21T13:18:16.535-06:00An account of my climb out from under $30,000 of debt while making $9/hour.debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.comBlogger221100tag:blogger.com,1999:blog-22129911.post-1153130325577062662006-07-17T02:46:00.000-06:002006-07-17T03:58:45.600-06:00

So I quit.With enough savings to keep up with living costs and minimum payments until November I'm now unemployed. I couldn't stand it any longer. - Idiotic management, hard hours, low pay. I'm sure I won't regret this.Now I have an interview in August for the job I'm trying to stick this November and if all goes well I ought to be debt-free before halfway through next year. I'll be spending the

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1149501878868918512006-06-05T03:38:00.000-06:002006-06-05T04:57:07.676-06:00

I'm going to quit my job.I've applied at a police department in Colorado and am 90% sure of getting hired come next month. The police academy won't start until November though so I've got a few months to do with what I wish. I was thinking a sojourn to my homeland of the northeast U.S. would do me well. It will be the last time for about another decade that I'll be free to spend several months

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1149161943274178002006-06-01T05:05:00.000-06:002006-06-01T05:39:03.296-06:00

Two of us made it to Denver and back (6 hr drive) on $127.44 plus some money for food.It was $87.44 in gas and $40 for parking. We had a bit of food and a trip to a museum but the whole thing stayed under $200 for three days in Denver.Plus I got a look at (hopefully) my future employer. I'll be going back in July for an interview at hopefully around the same price.

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1148835360572735212006-05-28T10:22:00.000-06:002006-05-28T10:56:00.583-06:00

I'm paying off a credit card in full on Wednesday. For those of you who don't know I enlisted with a 'debt counseling' service that basically takes all the nasty collection calls on your behalf and tells the companies you don't have the money but you're working on it. With Credit Solutions I pack away $250/month of which, for the first year, Credit Solutions takes out $110 as their negotiation

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1147962872795670292006-05-18T07:25:00.000-06:002006-05-22T01:49:29.766-06:00

Lately I've been thinking about what age I'll be able to retire. Here's how it breaks down. This November I hope to start a job as a police officer. The pay for year one starts at 48k and increases rapidly to 60k at the end of the 3rd year. Then there are slow increases after that of 1-3 thousand per year. I want to save every dime. Now, of course that's impossible. But I'd like to save ~50k/year

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com1tag:blogger.com,1999:blog-22129911.post-1147958444902548952006-05-18T07:07:00.000-06:002006-05-18T07:20:44.926-06:00

I have an addiction. Thankfully it's not nearly as costly as a gambling or drug addiction, but it gave my wallet a bruise this week. I'm addicted to video games (as much as one can be addicted to anything). It's my indulgence. Some people have cars and drive to work while sitting on a climate-controlled sofa, others have satellite tv, still others it's large restaurant tabs. For me, it's a slow

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1147703026621090572006-05-15T08:14:00.000-06:002006-05-15T08:23:46.636-06:00

About two weeks ago I took a trip to Washington DC and New York City. The costs were kept to a minimum. I ended up spending $480 for two roundtrip tickets one going into Reagan Intl Airport in D.C. and the other leaving from JFK in NYC. Travelled nearly clear across the country. It was a heck of a bargain as far as I'm concerned. The hotels were free because of my job, it's a fringe benefit. It

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1147031825982447272006-05-07T13:32:00.000-06:002006-05-07T13:58:56.863-06:00

I now have a new method to managing my finances. No longer will I budget out each paycheck as it comes in. Instead I'll be following the zero-balance budget principle. I have managed to save about $1,200 from last month. I have budgeted all that money to be spent this month. Meanwhile, the two paychecks and any other income I earn this month won't be touched or budgeted until next month.So far so

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1145531576711376942006-04-20T04:09:00.000-06:002006-04-20T05:21:34.590-06:00

Increase IncomeAt the rate I'm going I probably won't finish school, in all reality, for another 2 and a half years, which is too long in my mind. It's mostly because of money. I have to work full-time to pay my rent and debt payments so I can't take too many classes or I'll risk burnout. And besides, I can only afford to take 2 or 3 classes per a semester anyway, instead of the usual 5 or 6.I

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1145527758341545472006-04-20T03:39:00.000-06:002006-05-07T07:32:26.406-06:00

I have decided to change the way I manage my money. I have adopted the zero-balance budgeting technique. I picked it up from browsing the articles over at YouNeedABudget.com. Jesse describes how he raises a child and pays his and his wife's tuition up front on a modest income using the technique. The long and short of it is that you have to budget every single dollar every single month. There

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1145525991502721522006-04-20T03:23:00.000-06:002006-04-20T03:39:51.513-06:00

IncomePayday: $564.02Trust: $200Ebay Sales: $428.27Entrepreneureal Income: $57.36ExpensesRent: $375DSL: $62.63Webhosting:$24.95Netflix:$51.23Phone: $15.00Tuition: $403.88Postage: $15.00Food: $50.00Debt: $243.00TotalIncome [$1,249.65] - Expenses [$1,240.69] = Net $8.96______________________________________________________Fixed Expenses (Monthly)Rent: $375Phone: $15Internet: $60Webhosting:

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1144584238247580712006-04-09T05:46:00.000-06:002006-04-09T06:03:58.260-06:00

IncomePayday: $666.23Trust: $200Entrepreneureal Income: $107.73ExpensesPants: $65200 Blank DVDs: $38.90Taxi Fare's: $100New Shoes: $50Food + Entertainment on Trip: $300TotalIncome [$973.96] - Expenses [$488.90 ] = Net $485.06______________________________________________________Fixed Expenses (Monthly)Rent: $375Phone: $15Internet: $60Webhosting: $25Netflix: $50CC Debt: $250Total: $775Average

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1143559547933930152006-03-28T07:50:00.000-07:002006-03-28T08:31:06.730-07:00

So, as I explained earlier, my credit card debt ballooned to ~21,000 during the three years of practically no income I experienced while in college.I don't want to be preachy and tell all college students to avoid ever touching credit cards because it annoys me. Just because I was irresponsible and succumbed to temptation from time to time doesn't mean someone else will be.I wasn't particularly

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1143113945105022322006-03-23T04:22:00.000-07:002006-03-27T03:13:41.240-07:00

IncomePayday: $511.10Trust: $200State Income Tax Return: $215Entrepreneureal Income: $198.64Ebay Income: $487.89ExpensesRent: $375Debt(April): $250Phone: $25.38Internet: $62.63Power Adapter: $18.65Pants+Shorts:$37TotalIncome [$1,611.63] - Expenses [$768.66] = Net $842.97______________________________________________________Fixed Expenses (Monthly)Rent: $375Phone: $15Internet: $60Webhosting:

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1142158540887920012006-03-12T03:00:00.000-07:002006-03-12T03:15:40.906-07:00

I'm attending a political conference in Washington DC in April. Since I work at a hotel I'm getting a free room. Busfare and the increase in airfare required to be able to stay three more nights in New York City in addition to the three in DC was only about an additional $100 for two people with the free hotel rooms. I couldn't pass that deal up. I have vacation days at work to burn

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1140690333455714722006-02-23T03:13:00.000-07:002006-02-23T04:22:46.820-07:00

IncomePayday: $609.19Tax Refund: $483Trust: $200ExpensesRent: $375CC Debt: $250Internet: $16.92 (discounted)FTP Program: $25Conference Registration: $250Misc. Power Cables: $148.77Webhosting: $24.95Food: $60TotalIncome [$1,292.19] - Expenses [$1,150.64] = Net $141.55______________________________________________________Fixed Expenses (Monthly)Rent: $375Phone: $15Internet: $60Webhosting:

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1140439879656935822006-02-20T05:36:00.000-07:002006-02-20T05:54:39.820-07:00

With $51.36 leftover from my last paycheck and a little extra that had been sitting in the bank account I funded my weeked. I somehow managed to spend $60 on food, however it included the indulgance of a lobster.I got my federal income tax return of $483 last Friday which has put a nice cushion in my bank account. I should have a large paycheck coming this Thursday since I worked a little

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1139804892679173982006-02-12T20:47:00.000-07:002006-02-12T21:28:12.690-07:00

My Monthly CostsRent: $375/monthI'm fortunate to live in a large city in the American southwest where living and real estate costs are low. Last year for six monnths I rented a one bedroom loft that cost me $445/month plus utilities. I've since gotten a place close to school and to work that's only $375/month with heat, air conditioning, gas, electricity and hot & cold water all included. It's,

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1139740698205973242006-02-12T03:13:00.000-07:002006-02-12T03:43:40.626-07:00

So with the $98.36 left over from the last paycheck still on my debit card I funded a weekend of romance. I took a date to the museum to watch a giant IMAX movie, it was $12 for the pair of us. We snuck into the museum exhibits for free due to the 90 year old they put in charge of security.I also got us $15 worth of food from the grocery store nearby that was basically all sushi ingredients, a

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1139490202487051722006-02-09T05:28:00.000-07:002006-02-09T06:03:22.496-07:00

So how does one wind up 22 years old with $30,000 worth of debt with no assets, no degrees and a $9/hr job to show for it?I went straight from high school to a private school studying one of the humanities. I thought I'd avoid the get-rich-quick business, medical and computer tracks and instead opt to treat education as I still think it ought to be treated; as something done for the sake of

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1139487666970150152006-02-09T04:41:00.000-07:002006-02-09T05:29:16.740-07:00

PAYDAY!IncomePayday: $523.64 | [$9.05/hr * 72 hrs] 651.60 - Taxes [$127.96]Trust: $200ExpensesCC Debt: $450Student Loan: $100Netflix: $50Webhosting: $25TotalIncome [$723.64] - Expenses [$625] = Net $98.36______________________________________________________Fixed Expenses (Monthly)Rent: $375Phone: $15Internet: $60Webhosting: $25Netflix: $50CC Debt: $250Student Loan: $100Total: $875Average Income

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0tag:blogger.com,1999:blog-22129911.post-1139390501543138532006-02-08T02:19:00.000-07:002006-02-08T02:21:41.553-07:00

This blog will record my climb out of debt.

debtorhttp://www.blogger.com/profile/01616946010252781229noreply@blogger.com0