Been Contemplating this for Quite Sometime…

Posted: February 13, 2013 in Uncategorized

I am in the midst of some changes in life…career wise more or less – I am in the process of researching and familiarizing myself with the publishing industry which will eventually lead to a new career…but all the while I am trying my damndest to maintain some semblance of normal when it comes to our finances.

That said, our financial life has always been a major issue – it would seem that no matter what I do we simply cannot get ahead – we depend on those major windfalls of cash each year, the annual tax return in the thousands, Birthday and Christmas money to help us stay normal – or what would best qualify as normal…we are a household of 4 – Myself, a 35 yr old professional administrator working for a contractor of GE (won’t list my company name here, so please do not ask), my husband also 35 yrs old a Department Lead for a Major Retailer (again we will not list his company name so please do not ask). He has benefits through his employer – I do NOT – No paid time off, no insurance, no 401K offered. Our children a son who is 10 yrs old, diagnosed with ADHD/ODD (oppositional defiance disorder)/and somewhat mild Sensory Processing and our daughter who is 8 yrs old also diagnosed with ADHD.  I know a lot of children are diagnosed with this disorder, but if you could see my children at present when unmedicated you’d know 100% that they are in fact ADHD….we’ve learned to just let them be at night.

We don’t have credit cards, we’re 100% a Cash based household, our finances are for a lack of a better term a hot friggin’ mess and I am hopeful someone can guide me along my path…I am going to be honest, it’s not going to  be pretty…so here we go:

We currently own our home – a 1920s Cottage in Downtown Wilmington, NC, we bought said property in June 2007 for $110,500, since that time we’ve re-structured the mortgage twice and now owe $121,000, and are currently in the pre-foreclosure stage hoping to once again re-structure to put our current 5-Mos past due balance on the back end of the mortgage.  The house, and I am spit balling here, is worth roughly $80,000, so yes we are very upside down here.

Our car, a 2000 Ford Focus has been the bane of my existence since we purchased it in July 2011 – we bought the monstrosity and financed $12,500, we were good on our payments until the car was stolen from in front of our home in July 2012, we were without said vehicle for a month, during which time we had to pay for a rental car (discounted rate due to the insurance paying for it), and then repairs to replace the keys (I had inadvertently left the keys in the ignition after taking groceries in that afternoon, and those jerks tossed the keys into the river)…and ignition.  That was covered by the insurance but cost me my deductible of $250.00, plus the cost of the rental, which was $125.00, nevermind the loss of hours from work due to retrieving the vehicle, picking up the rental, and returning it.  Due to this plus other repairs because of the infernal check engine light being on I am behind 3-months on this payment, back due balance, roughly $700.00 plus some change.  I still haven’t had the 2012 inspection and registration done, I have a court date next Friday the 22nd and we’re hoping just disconnecting the battery and re-connecting it will allow us to pass inspection…if not I am not sure what we’ll do…as I am on my 2nd continuance.

During the time our car was in the shop from the theft the water line that feeds the house burst, so we had two different plumbers come to the house and make repairs, totaling $800.00 on top of the water bill.  Thankfully we were able to get the cost of the water bill reduced some of the cost of the repair, but we’re still paying on that back-due balance.

We are currently 1.5 months behind on our electric bill – total due, $250.00

The water bill as stated above, past due balance of $125.00

Our phone and internet are bundled together, past due 1 month – $125.00

Our normal monthly expenses include:

Tae Kwon Do for my son, $89.00/mos (this is part of his Occupational Therapy for his Sensory Processing), a weekly co-pay for his Occupational Therapy, $5.00/wk, and his ADHD Meds with his Sisters, $3.00/mos. (thankfully the kids are on the State Health Insurance Plan)

Blockbuster Membership, $21.39/mos (this stands in place of Cable) membership, $7.99/mos

Car Insurance, $65.20/mos

Groceries, $170.00/week

Gas, $40.00/week

Monthly Mortgage Payment, $824.00/mos

Monthly Car Payment, $336.38/mos

My Student Loans, $48.00/mos (I am on an income based re-payment plan with the Federal Government for the duration, this won’t change)

This is just the beginning, should you stick around, you’ll get a picture of how bad it gets…put simply we haven’t had a vacation EVER (our last one was our honeymoon in 2001), we have dreams of a weekend in Greensboro to go to the NC State Zoo, or even to Raleigh for the weekend…but alas that’ll never happen…nevermind Disney or going to Texas to visit my Aunt & Cousins.  True we regularly go to MD for Christmas or a trip in the summer, but we can do that because we stay with my parents…so there’s no excess costs involved other than the gas to and from NC and MD.

The Lesson Here: Cash Only household only gets you so far…

  1. mom says:

    Will Jimmy’s promotion help?

    • ncreadergirl says:

      It has to some small extent, but we really need the extra hours in order for it to fully help, then again with the cost of daycare we’ll be bringing only $40-$50 extra dollars per week, which in the long run may or may not help

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