Year in Review

In April 2007, hubby and I got on a written budget and began to practice a debt-proof living lifestyle. Looking back over the year, we've had great success...we've paid down $13,000 in credit cards...however, we have a true net gain of improvement in $7000 range. We had a big medical expense that came up last Dec. that we paid a portion in cash and financed (gasp) the rest on a 0% card. So...here we are a year later and I want so badly to see on paper our years worth of work evidenced...it is, but, not as much as I would like.

This month, we've had car repairs ($1700!!!) and it's also the month that I need to do some balance transfers. Thankfully, I'll pay off one credit card this month...I had it 1 year with 0% interest. We've successfully transferred our remaining debt on two 0% cards that will keep that rate for 12 months. My goal is to pay off by next April, if not before that time.

We have some figurative storms looming...mainly, our home. We have an adjustable...and it will reset. We called to refinance and can't due to major decrease in our home's value...it's sickening. Hubby and I ask ourselves how we got into this mess...obviously, before we got financially tuned in...ahhh, hindsight is 20/20...we knew we were getting an adjustable, however, we were assured we'd be able to refi before it resets. Well, that's not happening. We've never been late with a payment, we have excellent credit, we make good money...we're just over extended....big time. We're working with our lender to see if we can get a rate freeze but we may not qualify...we may make too much, look too good on paper...we'll see. I guess this process is time-consuming too...hopefully not too much. Oh, but get this...I was nearly fit to be tied! On 4/1, I went online to pay my bill and since we're working with our lender regarding our rate...I no longer have online bill-pay access! I had to call and had the choice to mail a payment (uh....hello, don't think so....our mail is so slow!) or make a payment over the phone with a $12 fee!!!! But paying online isn't an option for the time being. I found that so asinine...I mean if someone is wanting to pay ontime...they've made it difficult. What's interesting is that the phone check for $12 has cleared my bank....but the mortgage payment hasn't. I may need to call and follow up....the last thing I want is a "late" ding on my report.

On a positive note, we're doing good with not spending...we're not expecting to do much this weekend...I'll need to grocery shop and will spend minimally.