Updates

Thanks to the help of some good friends, I've bought more time to work out some pending issues. I still have credit card debt to work down, but it's not as frightening as it was at the beginning of the year.

I'm considering changing banks altogether, but I haven't made a decision yet. I'm comparing interest rates, fees & any reward programs. Similarly, I'm considering an UPside prepaid Visa, because it earns reward points.

I'm starting a coupon-sharing, grocery shopping collective with some friends who are also trying to work down their grocery budgets. I'd like to get mine down to $50 or 60/month. That would be huge for me, since, as I've said many times, food is my biggest budget buster.

I'm taking the metro more to try to save on gas.


I'm taking on extra gigs wherever I can find them, but I still need to increase my income by about 50 - 60% each month in order to really make progress.

New Year New Start

Again. This year I start off facing some major financial challenges. I haven't recovered from being laid-off. Though I have a steady part-time job, I have major debt . I'm barely afloat.

For 2011, I'm kicking in to high gear on both the savings and earnings fronts.

I'm taking on as much work as I can find, and have already established a pattern of 14 -16 hour work-days this year; if I'm not working, I'm looking for work.  I'm freelancing, working 2 part-time jobs, adding affiliate marketing, and more.

I'm taking the coupon thing VERY seriously, and I'm looking into splitting a CostCo or BJs membership with a friend. I've signed up for UPromise, ebates, BigCrumbs, SwagBucks, and Mr. Rebates.

Small steps

Obviously, I've had to slow down on paying off my credit cards since being laid-off. However, I am still slowly crawling out of the hole. I am officially under the $9,000 mark. And now that I am working steadily again (though not full-time) I can make better plans. My lowest balance is only a couple hundred dollars ($344) so with some luck, I can have that paid off by February. My largest balance (and highest interest rate) is well under $6,000 now, which is a major accomplishment.

I have 4 cards with balances. When they're paid off, I will keep 2 active for emergencies. In case you're doubtful that I will only use them for emergencies, I have to say that I have stopped using my credit cards for about 4 years now.

Update time

Well, in some ways being laid-off was a good thing. It gave me some time to figure out what I really want to do & how I want to structure my life. I'm very happy with my decision to work for myself. However, needing things to get off the ground very quickly caused a great deal of stress. It was hard to figure out what was going to pay off first.

I've been on unemployment all summer, also working here & there. I sold some items and have gone through much of my savings. I've made strides in developing other income streams, but the stress of the instability has made me less efficient than I'd like.

I've decided to pursue a regular part-time position to introduce some stability & structure to my plans. I don't know why it took me so long to come back to this; it was part of my plan to transition out my full-time job at the beginning of the year anyway.

Ahem

Soon after my last post I got laid-off. Ironically, while this gave me lots of things to blog about (and theoretically more time), it also ensured I had too much on my plate to actually write any blog posts.

I''ll write a longer post later to catch up. It'll cover such topics as unemployment benefits, job hunting, consulting work, part-time jobs, crisis budgeting and re-planning my financial future.

My biggest budget-buster

Food. It's always food. I'm pretty good at delaying gratification in just about every other area. But when it comes to food, I can't seem to curb my cravings. I eat out too much because, "Oh look, there's a sushi place on the way home!" or "I haven't had Chipotle in a month!" And I spend too much at the grocery store too. If I could get this one thing under control, my budget would be completely managed. It's really frustrating.

New Year's Resolutions (mine & other people's)

According to this article from Fitness.com ...

"Many people tend to make unrealistic goals when it comes to creating a New Year’s Resolution based on health and fitness. Many rush immediately to a gym to sign up, go for a few weeks, and then decide to give up. Instead of making these unreachable goals for yourself, why not start with something simpler. Here are some suggestions to creating a more manageable and achievable New Year’s Resolution."

This year (next year?), instead of doing traditional resolutions, I'm doing a 101 Things in 1001 Days list. I'll be tracking that list in a separate blog, here.

The finance related goals are:
1. Have emergency fund of $1,500
2. Get 1 full paycheck ahead in checking overdraft account
3. Consolidate credit card debt & reduce by 75%
4. Open a CD Ladder with a minimum of $500*
5. Develop a consistent fourth stream of income.