Anyone else having MAJOR financial problems?

[Homesteadmom]

We buy no extras & each month I think we are finally going to finish getting everything caught back up & dh tells me he needs something done. Right now we are going to get new tires for his pickup today. So of the extra $400 we got from the gin for Thanksgiving weekend we will only have $200 left & that will have to go to buy Christmas for the kids. I was hoping to have extra to pay on a bill & catch it all up but no. Then yesterday he tells me he thinks the frontend of his pickup may need to be redone too! I am hoping that all of this garbage will stop soon so I can get every bill all caught up. I was hoping the gas prices would stay down to help but I heard they are going back up after the first of the yr. We will have more extra money in Jan., from the gin again but if he needs a new front end there goes that money too! I wanted to use some of that money to buy all my trees in Jan & get them planted by mid Feb.

 

[enjoy the ride]

Inchworm- can't you ask them to reappraise due to falling home prices- maybe appeal the new assesment?

 

[inchworm]

When I called, they said it would be adjusted accordingly the next time it is reassessed. Of course, I can protest it, but from what I can tell, no one ever wins here unless there is an actual error on the assessment.

 

[FarmerChick]

HM

man do I hear you loud and clear. I believe everyone falls into the trap.....stuff costs us dearly. maintenance and parts on all the junk we own. Ugh

the minute I feel safe and a few $ in the bank (well safe, hmm..lol) --then boom the hammer drops and out goes major money to set me back, again, as usual.

trapped

 

[TanksHill]

I manage to pay off all my misc debt in March. I do however have a mortgage and a huge payment on our fifth wheel trailer.

My husband had a major surgery in Jan. Removed 9 teeth and part of his jaw due to cancer. Now the insurance company is refusing to pay for the reconstruction parts. Prosthetic denture etc.. They say is was dental work so it's not covered. That's bull, kinda like saying reconstruction after a mastectomy is a boob job. So I have about 15 thousand in debt, praying I wont have to pay it. My in-laws are helping us consult a lawyer.

Other than that I am slimming everything else down. Christmas gifts, groceries, elec, etc..

 

[FarmerChick]

oh tankshill
that is rough but with a lawyer the insurance will pay. you are so right in your comparison! this is not cosmetic or dental...this is part of major surgery. So hang in there....they will anti up their share I am sure. Praying all goes well for you!
We pay and pay and pay what the insurance company costs, and they are SOOO slow to pay their fair share. The longer they hold out, so many just cave. Get that lawyer definitey! best of luck to you!

 

[lupinfarm]

We're in the deep end nowwww. We got the source deductions for the computer business today, 5,000 owing!! We DON'T HAVE 5,000. Revenue Canada said we can do payments for 8 months at 800 a month, WE DON'T HAVE 800 A MONTH, and then they said... "after 8 months, you can deal with collections on working out a payment plan,"

the worst part is, you don't argue with them, you will get NOWHERE. they are god, it is just a fact of Canadian life. Oh well, at least Gramma& her boyfriend are trying to pawn some money off on my dad, hopefully it helps!


As a note, we still have the $500 to pay for the bathroom plumbing, the $411/month for the next 6 months to pay for the barn well being hooked up, plus the $200-300 for the electrician to wire up a light to keep the inside tap in the barn from freezing.



Yep, life sucks, it's just how you deal with it... like not going crazy can often help.

 

[Beekissed]

Things have always been tight in this house, so we're not doing too badly. I owe some student loans, one personal one and then, the rent and utilities, auto insurance. I've cut us down to the bare bones for years and I don't have much leeway for any kind of large emergency expense, but we are doing okay.

For the past couple of years I prayed that I would just be able to pay my bills on time...it was all I wanted! The other day I realized that I have been able to do this consistently, even on unemployment, for a couple of years now. (Prayers answered!!!)

Now...I'm revamping my prayers! Now I'm praying for being able to make enough to help others and to be able to pay for car repairs if they should arise, as well as continuing to pay my bills on time. I expect that those prayers will be answered too!

 

[angie68]

angie you said you are in the RED every month. you can't live like that. it will drag you down.

you must truly find every bill, expense, etc. and eliminate something, anything, to not be in the red....even if you hit dead on with every penny earned, and every penny spent than that means you are a push. being in the red means more debt is incurred each day.

I know it is hard. believe me. we have all been there when the money didn't stretch. but to live in the red, steps must be taken to help yourself.

like ETR said, what is the worse expenses and can you cut even more?

First of all, thanks to everyone for sharing. This isn't the easiest topic to share with others, especially when you feel hopeless.

Farmerchick.....I have very very little to cut back because of debt. I have been running on the bare min. for a while now. I even shop the thrift store if we need a clothing item. I do however have about 300.00 more I can cut. This would be cell phone(if I can beg my way out of the contract that's up in March), house phone, internet, cable tv, cancer ins, life ins, health ins. I hate to drop these things, but you are right, I can't stay in the red.

I do a budget for everything, especially food. I spend no more than 50.00 a week. 90% of the meat we eat is Deer.

There aren't alot of options for us because we don't qualify for bankrupty if we want to keep our home because there's too much equity in it, but on the other hand, we don't qualify for a loan to get that equity out because we don't make enough money. Our debt ration is too high.

It's crazy! My husband has applied for several part time jobs and is now looking for a better paying primary job.

I was promised in April another cleaning job at another bank branch, Lord willing, if this pans out, we won't be in any financial troubles for a while.

Thanks again for everyone sharing, it really does help!

 

[FarmerChick]

I hear ya Angie

you seem like a true pincher when needed...LOL...I am too. you definitely have a handle on the problem, now just to find the right fixes to keep it on the upswing!

one thing I know from having big debt starting the farm, it doesn't just disappear overnight, (big sigh) even though I sure wish it did. It took me about 6 years to pay off over $30K to start this farm to the level we are at...and heck, we had alot of barns and equipment before we started.

just make a list. sit down and truly see what you can cancel and what the biggest savers are. cancer insurance I would cancel. life is a crapshoot anyway..lol...but I wouldn't drop life insurance. that is a real necessity if anything happens. cable, yea, I would do something about that definitely.

the only reason I say DO NOT stay in the red is this.....I was there. Yup, my payments on everything in this household exceeded my income (tony's work and farm) and I was putting groceries on credit card, etc.....well real fast I noticed, duh, that the debt was increasing as I paid off the other debt cards etc...LOL---I was in denial literally. pinching pennies here and there and still racking upn debt. then it hit me....do whatever I had to to stop this cycle. and wow, yes, it can be hard. I went on such tight budgets I drove Tony insane....but after alot of hard years I am in the good now.

just have that long hard chat with yourself. I did. And it stinks definitely, but it has to be done. Only we can save ourselves when it comes to our money! I realized that and put plans into action. UGH--ARGH! hard times happen but they can also be some of the most fun. I looked everywhere to have fun at no charge! I discovered places and events etc. that I didn't even know my county had! Free days for kids and such.....

I made a game out of it...how to still enjoy life at no cost and smile. I didn't realize how dependent on paying I had become. Free things to do, wow, what is that..HA HA, like everyone I got into traps. So now I live my life for my finances, fine free fun things to do, etc......it woke me up.

Sorry for the long post, it is just that it was soooo hard when you are there! But once you dig out, and you will get things in order, like me, then it can be so enlightening to re-evaluate everything like I did. I don't know.....hmm...I guess I learned a big lesson from this. the debt was horrible, but the life lesson was good and now was only a positive influence.

hang in there angie....you obviously are a smart gal and will do what is necessary to get all the ducks in a row!