Am I on the right track?

[minnie1928]

I did look at a new place last week. I could probably rent a unit there for about $690-700/month, so I would save about $50 there (this cost doesn't include the water/sewer that my current rent does).
?

How does the rent compare when you factor in the water/sewer? If it's about the same then you might want to consider staying put simply so you won't have the cost/hassle associated with moving.

[disneysteve]

Congrats on selling the website and sending the money to the debt. That's a great start to being debt-free. Keep it up and keep us posted.

[DanielB]

How does the rent compare when you factor in the water/sewer? If it's about the same then you might want to consider staying put simply so you won't have the cost/hassle associated with moving.

Not sure, as I've never paid for water before where it's not included in the cost of rent. Yesterday evening, I tried to figure out what my rent will be if I stay in my current place for another year, but they have not posted rates yet on May renewals. I should know by the middle of March.

[snafu]

Added suggestions: seriously consider a room mate/house share accommodation to reduce fixed costs. Budget $ X. for food/grocery and eat at home, take home-made lunch. Buy a mini crock pot [$12.] and at the end of the day load it with a cut up potato or 1/4 cup rice, handfuls of the frozen veggies you like, some poultry or cheap cut of beef or pork, sprinkle with spices and add 1/2 cup water. In the morning take the crock part out of the fridge and drop it into it's electric partner, add the lid [most important] and plug in. When you get home you will have a yummy meal without all the un-pronounceable chemicals/preservatives. There will be enough to take for lunch day the following day. cheap, cheap, cheap, healthy & efficient. Splurge for quality bread and a fav. wine if you want to step it up.

[debtdewd]

DanielB,

The shear fact that you are seeking help means you are on the right track. I'm in a similar situation as you are - nearly the same amount of debt, a few bad decisions, and now trying to dig my way out.

An unexpected big expense and I would be in some trouble.

At any rate, I look forward to seeing how things go for you...

[Mr Nice Guy]

Dude, you came here... You are definitely on the right track1!! I suggest doing some studying on other posts and if you get some free time, contribute to other threads. Many wise people here, you will soon see who they are if not already.

Remember, in this game, you must play good defense(saving,) and good offense(earning.) Defense is the easiest thing to manage(for me anyway,) but keep your eye on both fronts and watch the net worth increase.

And I will add that even though it was irresponsible to give when you couldnt afford it, your heart still shows where it is at, and I think that is cool.

[DanielB]

Thanks to all for the additional input. I've made a few more accomplishments:

- Received a promotion + raise which should increase take-home pay by $34 per week ($147.33/month). I'll also now be eligible for bonuses up to $2,000 per quarter based on the performance of my accounts.

Credit card balances are currently:

Credit Card 1 (7% interest, $1,000 limit) - $919.99/$50 min. monthly payment
Credit Card 2 (22% interest, $5,500 limit) - $2,794.xx/$165 min. monthly payment
Credit Card 3 (N/A interest, $1,500 limit) - $0.00
Credit Card 4 (N/A interest, $3,000 limit) - $0.00
Credit Card 5 (0% interest, $700 limit) - $698.xx

Total Credit Card: $4,411.99

Unfortunately, the balance on credit card 2 has not dropped by as much as I had hoped as some unexpected clothing expenses came up (I've lost a lot of weight recently).

For now, I have kept the iPad, since I am using it to view my digital school books for my MBA program (included in the cost of tuition). This is saving about $500 every two months. Does this seem wise?

I have not yet been able to file my taxes, as I'm waiting on one last form for my brokerage account. After looking at my situation again, however, I realized I may only be getting back $1,000, instead of the $1,600-$1,800 I originally expected. I need to discuss this in more detail with my accountant. But it basically relates to section 179 deductions I took last year at the direction of my accountant in regards to my now-closed business. So I have to admit, this kind of depressed me.

So anyway, that's where I'm at right now. I almost feel like I'm treading water and haven't made any real progress since last posting. Does it sound like I'm making Ok progress?