Wednesday, July 20, 2011

Day 1 to financial freedom

For those who are new to my blogging, this is the plan. By August 2012 I want to be completely debt free.Is this a possiblty? In this blog I am going to discuss the different things that I am trying to use to be able to get to my ultamate goal.  My husband and I have already paid off credit cards and some loans thanks to consumer credit. We both have paid off all of our vehicles. Consumer Credit had talked to the creditors on our behalf and was able to get our interest lowered. Don't get me wrong, we still have our normal monthly bills, plus we have 2 mortgages, and 2 school loans (mine). One of the complications we have had is that I have been off work since the day after Thanksgiving. So with 1 income we have been able to pay off some of the debt. Not that I would recommend it but when I was unable to work anymore (at least right now) I took my retirement and my husband took some money that he got from his dad's death and we paid off the consumer credit. I know that if I was still working that I wouldn't have been able to use the retirement.Let me explain my work status. I am a RN who hasn't worked since the day after Thanksgiving. My health has been really bad for the last couple of years. I have chronic issues with Migraines. Have been hospitalized 3 times since then for the migraines and 1 time for my gastric bypass surgery. In December 2010 I was diagnosed with a pseudo tumor cebri. Which mean my brain thinks it has a tumor and retains alot of spinal fluid. Also my neurologist stated on May 31, 2011 that my migraines are not just the pseudo tumor but it is also vascular. Therefore I have a headache everyday. So paying off some of our bills was such a joyous feeling knowing that we paid it off. But everything is tight with only 1 income coming in and we have had my short term disability. But the short term disability ended in June 2011. Here it is July and I haven't heard anything regarding my long term disability from my old job. I am hoping to get this and I could relax about getting healthy and getting my next job.  Luckily, that the short term disability was sent when we were about to lose our house. Thank God the economy is in a slump and it helped us keep our house. We refinanced and it lowered our interest rate. If you can afford to do it then do it. It will help your credit and may help your finances. Another thing that I have begun again is clipping coupons. I remember when my children were still living at home I would clip coupons and was able to save some money with our grocery bill. However, we have decided to take it to a new whole level. Or should I say that I have decided to take it a whole new level. I have been doing alot of research of people who do extreme couponing. I am hoping to not just save money but maybe to help my son and his fiance and maybe our church. Everytime I blog I will be discussing how the couponing is doing and I will try to come up with other ways for saving money. They say you should have 6 months of savings in case of an emergency and with this economy this is the emergency. And I hope I can help all of you too. Here we go!!!

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