Well, besides not buying a home ever again, we need to take an honest look at what got us into this mess in the first place. Blaming the market or blaming your lender , but not taking any responsibility yourself isn’t going to make your situation better. Really. You need to be honest with the man or woman in the mirror. What could you have done different that would have made your situation better?
Now, before you ask me who am I to judge, let me just say that I know where you were, I know where you’re at now, I’ve been there and you won’t get any judgmental attitude from me.
I’ve decided to make this post into a series because once I started writing more and more ideas just started to flow, that one post would be 10 pages long!!! So, let’s begin!
Part One: GET RID OF YOUR CREDIT CARDS!
I’m starting with this one because credit card companies really tick me off! You’re one day late paying your bill and you get this nice notice letting you know that your rates are going up. The government slaps their wrists by requiring CC companies to “do the right thing” and guess what? We pay the price by them raising the rates before their “do the right thing” deadline.
The good news is, we don’t have to put up with it! Pay them off and GET RID OF THEM! We absolutely do not need a credit card to make it in this world! I know we’ve been told we can’t live without them but the truth of the matter is, if we go back to what our grandparents did, like save money and not buy what we can’t afford, we won’t need them.
Here’s a personal example for me that I’m dealing with right now. My flat screen tv died, 12 days after the warranty expired. OUCH! My husband is still going through withdraw. We had to bring our 19” from our bedroom to our family room. Personally I’m glad the tv is out of our bedroom! If, I’m honest tho, I do miss the flat screen and it would be easy to use a credit card to buy one. BUT, I hate being in debt even more and I HATE credit card companies too. Although it may be months before we get another flat screen, the day we pay cash for it with no interest fee, late fees and such, will feel so much better than getting it now, making our monthly payments with more going to interest than principle and end up paying more than double if not triple in interest!
Using debit cards is a great way to keep yourself in check. You can use them to rent a car and to check in at a hotel. No need to have a credit card!
What has helped me put my finances in perspective is when a friend of mine suggested the book The Total Money Makeover by Dave Ramsey. I don’t want to sound like a commercial so go check out the link for yourself!
Next in the series is: What is an Emergency fund and whyyou can’t survive with your sanity intact without one!
Pam lists and sells homes in Jacksonville, Orange Park, Green Cove Springs, Fleming Island, Middleburg,Ponte Vedra, Atlantic Beach, Neptune Beach, Jacksonville Beach, Orangedale, Fruit Cove, Switzerland and St Johns County Florida.
Are you facing foreclosure? Call Pam at 904-910-3516 to discuss your options.
Pam Graham with All Real Estate Options handles Jacksonville Florida short sales, Orange Park Florida short sales, Fleming Island Florida Short sales, Middleburg Florida short sales, Green Cove Springs Florida short sales, St Johns County Florida short sales, Ponte Vedra Florida short sales, St Augustine short sales, Palm Valley short sales, Duval County Florida short sales and Clay County Florida short sales.
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Mortgage Assistance Relief Services Disclosure
ALL Real Estate Options is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
This is a great topic for a post I like your best tip which could be good for everyone-get rid of credit cards they can be a source of trouble if not handled properly.
Your points are all great...we did get ourselves into this mess as a country. And we are certainly paying the price. I want to say what really drove me to your blog post was your picture and then love the heading. Very unusual and it made me want to see what you wrote. Great blog.
Hi Pat! I know that credit cards have been a thorn in my side for much too long!!!!!
Hi Karen! Your right, we are paying a price for our mess. The ones who learn from their mistakes will walk away a lot wiser! Thank you for your kind words!
It's amazing how credit cards can get you in trouble. It's just not as painful to swipe the card as it is to pay with Benjamins. Credit card swipes add up and the bill at the end of the month can be a shock. It's just best to cut them up.
I had a short seller crying on my shoulder last week. His wife got breast cancer, his son was bailed out of a bad drug habit, his mom got alzheimers. I really felt bad until I came home and looked at his tax record and realized that he cashed out $600K in a 2 year time span. I still felt sorry for his wife and mom for their situations. I didn't feel so bad that he took out so much money and did God knows what with it!
Michele-You're absolutely correct... cut those bad boys up!!!!!!
Renee- It is hard to find sympathy for cashing out $600k, unless maybe he used it for medical bills??????