Am I the only financially stupid person here?

[liveandchi]

This site is helpful for me trying to get my finances in order, but I feel like I'm the only person here that doesn't have my finances together. It can be very frustrating seeing all of you with your finances in order while mine are a complete disaster.

I know that I don't have anyone to blame but myself. I still get frustrated. I guess I'm just jealous since you are where I want to be. But I really do feel like I'm the only one here who doesn't know how to handle money.

[miclason]

...not really...my finances are soooo NOT in order...each month it seems I have to choose which accounts to default on and which ones to keep current, and then, every 6 months or so, the interests catch up with me and I default on all of them! ... my financial situation has never been this horrid!...but, that's why I'm here...

[kashi]

oh my gosh, liveandchi! I seriously doubt that is true. people who had their finances completely together would have no need for a savings website. they would all be off relaxing and enjoying their savings!

I am nowhere near where I want to be. I have yet to pay off my credit cards and I have at least six more years until my college loans are paid off. I'd like to feel comfortable enough to buy a new car (before mine bites the dust, which will probably happen soon) and a home, but I am taking it one day at a time.

if you are making progress, even little tiny steps toward financial freedom, be proud of yourself. there are plenty of people out there who are out in the stores maxing out their credit cards and haven't yet realized how stupid that is. you have at least come that far, right?

one of my favorite quotes is, "Never compare your insides to someone else's outsides." In other words, you really have no idea what is going on in other people's lives, so don't compare yourself to their outside appearances!

[PrincessPerky]

You are definatly not the dumbest in finances, I am making misteaks left and right! I just found out that my security system, which I can't get rid of, runs off the phone line, which I did get rid of. So now I am stuck paying 35$ a month for nothing, an dI am going to have to tell my DH that my so called savings by turning the phone off isn't.

While so far I havn't had to default on any loans or bills, I certainly havn't managed to get the credit card to even stop going up!

[Stacyjh]

You are definately not the only one without finances in order. I have got to be one of the stupidest when it comes to saving money. I think there are only a very very small amount of people in this world that really have their finances in order. About the time most people think they do, another big expense pops up.

[amomof4]

Sometimes my finance are in order, and sometime they're not. I find the journal section to be a great help in keeping me on tract. I don't want to blow it while I'm recording it for the world to see.

[nate]

Am I the only financially stupid person here?

I bet i have you beat on the financial stupidity meter.

<b>Financial Stupidity Meter</b>
[ smart ------------------------- stupid ] --------- ^ Nate

[Tree0164]

Nope! I have made a ton of financial mistakes over the years and am now learning from those mistakes and trying to help/make suggestions so they can learn too.

[the4parkers]

reading posts may seem like we've got it all together.. my family -- were up to ears in debt that is why i am on these boards.. were still young and we both know that we need some kind of savings, and a retirement, and if our 2 boys want to go to school. ugh makes me sick just thinking of it. your at a great starting point if your here. were all here for the same reason , so don't feel like an outcast.. i feel 2 heads are better than one and when it comes to finances someone out there has answers to my questions... that is where you guys come in

[terry1156]

Although my finances are now in order, I have been where you are. I can relate to your feelings of frustration and wondering if you'll ever see the light of being debt free. You will. It takes time and effort and persistence. Hang in there and try not to get frustrated (I know, much easier said than done). You have taken a huge step just by acknowledging your current situation and taking steps to correct it. You're far ahead of most people and you can congratulate yourself on that.

[henrybemis]

My biggest financial mistake was attending a private college and delving deeply into student loans. $47,000 deep in them. I'd advise public schools which are just as good and often offer more resources. And I'd advise not taking out student loans or taking just the bare 'minimum'. My greatest feat? Becoming thrifty and frugal with my money. And going back to school for a degre that can really be used (MS in Accounting and Economics). Unlike my undergraduate degree in Philosophy which really can only used by me. I can see Socrates shaking his head right now.
HB

[txjman]

You want to talk about financial stupidity? You should see my CC bill every month. In no way are you alone!

[akaivyleaf]

I come here to stay on the straight and narrow path to financial freedom. My friends think my habits are excessive, but yet and still they complain every month about having more days left than money. I like to stay rooted and grounded so I come here for my encouragement.

[liveandchi]

K, I feel better that I am not alone. But I feel guilty that I feel better because others are suffering like me. Stupid huh? I can't be happy either way

[PrincessPerky]

ROLF, we all wanna know that we are not alone. And jusdging by the respose we are very much not alone!

[terry1156]

I know the dark times are dark - pitch black it seems at times. But you have taken the right steps and are making progress. Don't give up and realise there are a lot of people here that want you to succeed and are willing to help as much as they can.

[tag61usa]

You're not financially stupid and you're definitely not alone. It's a lack of financial knowledge. We've made major & minor financial mistakes, we can only hope not to repeat them.

I started on a debt-free quest a few years ago. Are we debt-free? No. We are on a roller coaster ride with credit cards.

I'm here because I am always willing to learn. Maybe during my quest, I might be able to help others too.

[jhd815]

Liveandchi,

You are by no means financially stupid! After all, you've already joined a great forum where you can learn from others as well as share your successes.

Every one of us who post on this forum (as well as those who read but don't post) have made small and large financial mistakes. The key is that we learn from them, just as you are doing, have done, and will continue to do in the future.

I've just recently become more educated about finances within the last 5 or so years and I know I have a long way to go. I'm not looking to become a millionaire but to enjoy and use my finances wisely for my benefit and that of my family.

Keep posting, keep learning, and keep sharing your ups and downs with us. I'll bet a year from now you'll look back on that post and realize that you're heck of a lot smarter than you thought you were.

[liveandchi]

How do you put the advice into action? People keep telling me I should get a job to bring in some extra money and I'm trying to find one, but I can't. The job market in my area is really bad right now.

People tell me to build an emergency fund, but if there is no money, it's impossible to do

People tell me to pay myself first. I can do that, but it means not paying one of my bills which ends up costing me more money because of late fees and penalties.

How do you put these things into action when it is impossible to do so?

[PrincessPerky]

Start small.

below is the aproximate order I went in (though I do not have a large emergancy fund, I do have an overdraft account that hasn't been needed in one whole month . I am not an advocate of defaulting to pay myself, I do think that you should aim on living under your current income, and then when you get there, go 5$ (auto withdrawal) less or whatever is comfortable, till you get to a minimum of 10% savings, that is my goal. under your current income (to me) means less than the take home pay including all bills, groceries, and what I call the yearly build up, the amount of yearly bills we pay (like car tax) divided up by 12. So far I am successfull, up to the yearly amount, so I am getting there. I used to be able to afford things, but then prioces changed, family got bigger, house payment went up, and I didn't adapt. Now I am. Bit late but hey I am.

What was easy for me might not be for you, but the biggest focus needs to be moving in the right direction.

Be proud if little steps in the right direction.

Aim for meals that cost 1$ or less per serving ( I gotta list if you like, but it is based on local prices)

Turn heat to 65

Freeze the cc cards (in the freezer , or figurativly, mine are still in my DHs wallet, but we haven't used themin over two months - hey I said little accomplishments!)

unplug the computer and such when not in use.

Cut down on use of all electric stuff.

I amproud of my progress, It might not be perfect, but it is getting closer, and one day I hope to be one of those people with a nest egg and retirement and all that fancy stuff .


On the job thing, I am loking into the work at home thing, I am good at only two things and the marketable one is teaching so that is where I hope to get income, dunno what you are good at but I bet serching out oportunities even if it is just a couple of friends who hire you would be a great start. In my personall finances and extra 5$ is welcome! so it doesn't bother me that my friends can't afford to pay what I deserve . I do NOT recomend the MLM stuff, I only sell the toys to get the discount, weeding thru the crap to get a buisness going is not worth it, and the startup fee is outrageous! (though if you lived close to me, charlotte NC, I would gladly share my supplies and let you make money off my membership, you might find a friend nearby willing to do the same)