Friday, July 9, 2010

Total Money Makeover



As humiliating as this may be to talk about, I want to briefly make mention of our situation at the moment since it's something I don't want to forget and something we've been struggling with for a few years now. I guess we don't really consider ourselves poor money managers but the truth is that we find ways of getting ourselves into new debts shortly after having cleared old ones. This is just no way to live. We've somehow lost control over our lives in this aspect and feel as though we've finally hit some kind of rock bottom as we've had our car repossessed this week. I guess the first step in fixing any problem is admitting there is one in the first place.

I've been listening and loving Dave Ramsey's advice for the longest time now, but have found it rather difficult to stay on top of any budgeting plan. We have the tendency to do so for a while and then just get lazy. But we came to realize that no justification or excuse is worth it anymore so our plan is to get on top of it, tackle it and to work hard at living debt free and yes this includes student loans and the messy mortgage situation I got myself into years ago with my parents. Yes, I invested in a house, in California of all places, many years ago thinking I was wise for putting my money into a property knowing very little about it. I know we've all made mistakes in our past but hopefully none of you readers of my blog have made one this big in so much ignorance. It's not even a property I wish to keep anymore. But that's besides the point. Right now, our issue is that we have no car which, for someone who travels a lot pulling small trailers across the country, is a big deal. So after a few dozen tears and some serious reassessing of where we are with our lives and where we want to be, we've decided to take on Dave Ramsey's challenge: If you will live like no one else, later you can live like NO ONE ELSE! All too often, we buy things we don't need with money we don't have in order to impress people we don't like.

Gordon B. Hinckley pointed out how our pioneer forebears lived by the adage, "Fix it up, wear it out, make it do, or do without." Having grown up in the prideful state of California, this is not something I am used to especially when it comes to cute new baby clothes or in my case shoes. And keep me away from the fabric store. But it is inspiring and so I write down these mottos to remind me of where I want to be. Where we want to be as a family. So even if we lose this car for good, we WILL find a way and probably a more thrift and prudent one at that. We need to learn to live within our means and though we don't own credit cards at the moment there is much room for improvement so stuff like this doesn't happen again. Wish us luck.

2 comments:

Kira said...

I'm sorry about your car, that's got to be rough. But good luck with your new budgeting. I think The Total MOney Makeover is right on. I can always do better following it too, but I like the concept of Living like no one else now, so we can live like no one else later on. Besides, I'd rather "struggle" in these first years of marriage than in later years! Our kids don't even know they're missing out on anything at this age too. Enough rambling, but good luck!

Palmyra said...

Ligia, you are such a brave soul. I would have a hard time talking or writing about any of my weaknesses. I know you guys will get through this. You are both super smart and will figure all of this out. Sometimes making the wrong choices now, helps us make the right choices in the future. You've always know what the real and meaningful things in life are. My Father in law read me a letter you once sent to your mom for Mother's day. It made me cry, it was so beautiful. You are strong and I know you will be able to accomplish all the goals you set. :)

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