nothing seems to work...

[joesixpack]

Re: nothing seems to work...

If I were you my next step would be lowering the electric bill..which if you cut cable it will do a bit on its own..no tv..no electricity to not run it check out the electric thread on here..you wont be able to do all of it (I don't) but read the list and grab a tip or two.

Also on the anti payday loan, electric and gas don't tend to charge outrageous interest..you might try putting htem off, or paying partial instead of borrowing ot pay full. and as you reduce the expenses you will be able to pay fully soon.

Oh and it is 9 months up and about a year down iso if it took you 6 months to get in this hole, expect at least 7 to get out. Just cut all the corners you can.

oh and food...if you want we all have some simple cooking tips (frugal cooking)

I'll still watch DVD's (that I already have) but that's about it. The problem with putting off the elec and gas is that I'm already just on the brink of shut-off (for the gas) as it is. If they do shut it off, I can't cook or shower and would have to pay the entire past due balance of $900 to get it turned back on. I can probably get away with just paying my useage of $24 for this bill plus a few bucks.

[joesixpack]

Re: nothing seems to work...

You mentioned 6% going to your 401K. Can you stop that temporarily, or must you continue it because of the outstanding loan?

Can you raise the deductible on your auto insurance? Or maybe switch to a cheaper company?

Are there any cheaper options to choose from for health insurance? Maybe a plan with a higher deductible or higher copays?

Someone earlier mentioned adjusting your withholding to get more money in your check rather than a $1,200 refund next spring.

I don't know if any or all of those would make up your immediate shortfall, but you have to keep chipping away at every possible expense. You've already found ways to cut your costs by over 8%. I'm sure there is more you can do to trim costs further if you keep looking.

Finally, I'm going to recommend ebay again. When I was out of work a few years ago, I ebayed a lot. At my peak, I was grossing between $2,000 and $3,000/month, about 70% of which was profit. It was all merchandise that I bought specifically to resell: yard sales, church bazaars, flea markets, auctions, discount shops, outlets, etc. It is definitely an option and not all that difficult to do. Making an extra $500-$1000/month is quite possible.

Ultimately, it may come down to finding a new job. You said that your company primarily does refi business, a market segment that is drying up pretty quickly as rates climb. Unless they change their business model soon, I think the future of that company is questionable. Again, I wish you luck.

All ideas I'll check out. I can stop the 401k contr. but the loan repayment is stuck as it is until it's paid off.

The new job thing is tough. I've interviewed at other mortgage companies and there's always a "ramp up" period where I might go 45 days without pay. So it's a tough decision.

As far as changing their business model, I can't tell you why they don't! We used to be among the top companies in the state because we were ahead of the curve a bit but that's fallen off. I don't know what the heck they're doing...

[joesixpack]

Re: nothing seems to work...

I worked at a credit union for a number of years and I know that if we had a member in good standing (maintained their accounts, nothing past due) we would allow a once per year 'skip' on a car loan payment.

I dont know who you have that loan with, but if you could skip a month, that money could go directly to your payday loan.

Just a thought.

I did a "skip-a-month" once but they won't let me again. I'm already consistently 17 days behind every month (it's due the 28th and I get paid the 15th, and fell behind this year) so they already said no, unless I can guarantee the next payment on time. Which, of course I can't, since I'm already slightly behind. It's not even late enough to get the late fee, or a late report on credit (must be 30 days for that) but the way my paydays fall and getting paid once per month has me all screwed up.

[PrincessPerky]

Re: nothing seems to work...

I'll still watch DVD's (that I already have) but that's about it. The problem with putting off the elec and gas is that I'm already just on the brink of shut-off (for the gas) as it is. If they do shut it off, I can't cook or shower and would have to pay the entire past due balance of $900 to get it turned back on. I can probably get away with just paying my useage of $24 for this bill plus a few bucks.

find out the least you can go, use the extra to the payday loan.

and bread (pbnoJ even)requires no heating

cold showers don't either..not saying you have to go all the way to no gas, just saying keep in mind people lived for eons (in fact in many countries they still do live) with no fancy gas lines for hot showers If you wont give it up, at least know it is a luxury!

I would rather go to no gas than pay over 300% on a payday loan....

[boefixepa]

Re: nothing seems to work...

Hang in there....you may think this is all rather drastic, but you will feel so much better when you get that evil pay day loan off your back!!!! and NEVER have to go back!!!!

IT IS WORTH IT!!

[joesixpack]

Re: nothing seems to work...

find out the least you can go, use the extra to the payday loan.

and bread (pbnoJ even)requires no heating

cold showers don't either..not saying you have to go all the way to no gas, just saying keep in mind people lived for eons (in fact in many countries they still do live) with no fancy gas lines for hot showers If you wont give it up, at least know it is a luxury!

I would rather go to no gas than pay over 300% on a payday loan....

OK, but what kind of loser do I look like explaining to my girlfriend that she has to take cold showers when she's over?

[34saving]

Re: nothing seems to work...

OK, but what kind of loser do I look like explaining to my girlfriend that she has to take cold showers when she's over?

A total loser. However, if you guys have any chance of making it long term you're going to have to start with 100% transparency. If she loves you enough (and is committed enough) to help you through this you've got potential as a couple. If she bails, it much better to find that out now.

[boefixepa]

Re: nothing seems to work...

hey, as a missionary I lived in Africa and took showers out of a bucket. With hair down to my waist let me tell you there was a learning curve on that one. And cold showers felt GOOD in the african heat. Bread takes on a whole new meaning when the island runs out of flour.....wonder what it would be like if that happened here....

Oh, and I flushed the toliet by dumping water into it, a part was broken and you couldn't get a replacement part....you'd have to replace the whole toliet!

[sakigt]

Re: nothing seems to work...

Instead of working on Saturdays at your current job (which obviously isnt going well with intrest rates the way they are), Id get a 2nd job for a couple months. Something relatively easy. Perhaps you know a realtor who needs a hand hosting open houses on weekends?

Be patient.

Also, what kind of car do you drive?

[vsjhoc]

Re: nothing seems to work...

However, if you guys have any chance of making it long term you're going to have to start with 100% transparency.

Totally agree. Have you told HER absolutely everything you've told US (except about the $3,000 you wanted to spend on the ring)?

[joesixpack]

Re: nothing seems to work...

Instead of working on Saturdays at your current job (which obviously isnt going well with intrest rates the way they are), Id get a 2nd job for a couple months. Something relatively easy. Perhaps you know a realtor who needs a hand hosting open houses on weekends?

Be patient.

Also, what kind of car do you drive?

That's an idea, except Ohio licensing laws make it techically illegal to work both in real estate and mortgages at the same time. But, that could give me something to consider...

I have a 2004 Galant. The payment is high because I had negative equity in my previous car. Which is now why this car is worth 10k less than I owe on it.

[sakigt]

Re: nothing seems to work...

Ok. A Mitsubshi Galant...I understand now. That really sucks.

I only mentioned the realtor connection thing so you could earn a bit more. But you could take something you enjoy and work retail there on the weekends. $8 an hour sucks, but 2 shifts a week could get you just under $500 extra a month. A lot better than taking cold showers, imo

Even if its for 3 months...you suffer without your weekends, you'd be caught up easily.

[disneysteve]

Re: nothing seems to work...

Even if its for 3 months...you suffer without your weekends, you'd be caught up easily.

True. I know many people who work 7 days a week all the time. It isn't fun or easy, but it is what they need to do to pay the bills. Desperate times call for desperate measures.

I think turning off the gas is a bit extreme, but there is no reason that you can't take cold showers and leave the hot water for when your girlfriend visits. When it is just you at home, turn off the hot water heater. Air dry your clothes instead of using the electric or gas dryer. Wash everything in cold water.

Most Americans live in luxury compared to how much of the rest of the world lives. We just don't appreciate it. Heck, we live in luxury compared to how our parents and grandparents lived. We are just all really spoiled. You can get by on a whole lot less than what you currently spend if you are really willing to cut back. If you are not willing to cut back, then you are stuck dealing with the consequences.

[joesixpack]

Re: nothing seems to work...

Ok. A Mitsubshi Galant...I understand now. That really sucks.

I only mentioned the realtor connection thing so you could earn a bit more. But you could take something you enjoy and work retail there on the weekends. $8 an hour sucks, but 2 shifts a week could get you just under $500 extra a month. A lot better than taking cold showers, imo

Even if its for 3 months...you suffer without your weekends, you'd be caught up easily.

I like the car. In fact, if I ever get the damn thing paid off I'll keep it until it dies.

[sakigt]

Re: nothing seems to work...

I like the car. In fact, if I ever get the damn thing paid off I'll keep it until it dies.

Youll have to, they depreciate like crazy!

I glad I love my car, because it isnt worth half what I paid for it! (although the fact that hes paid off helps me love him even more)