gives his comment a bit more context… Maybe not the best comment to make, but it seems to be taken out of context and the topic he was addressing has been ignored.
He was trying to make the point that federal workers should not get a government subsidy to buy their insurance on the health insurance exchange. Taxpayers have to pay for their insurance out of pocket and are expected to pay for a subsidy for gov. workers to buy theirs. He was arguing against it. Sounds like an attempt to change the subject and make him look bad vs. having a real conversation on his concern.
I am not really focused on paying off the student loan as I am getting ready to buy a house and the student loan is only 3% interest. I only have about 2K left on it so I should be able to pay it off pretty quick after I buy the house. I currently have a 6 month emergency fund but most of that will be wiped out because I will have to use it for the downpayment on the house so I’ll have to start over. I just got Dave’s book yesterday, The Complete Guide to Money and am excited to start reading it.
there because I have family and friends in that area–that’s where I’m from. I just think that perhaps he is looking in the most expensive area and wants the same type of living that he gets at a lower price where he is from. It’s doable to live on 172k in that area, my nephew is living off 75k and living in DC.
Question: Hi. We are in the payday loan’s vicious cycle and are not sure how to get out. Have any of you been there and done that and lived to tell about it? Our income right now is about 2500 a month. That will increase to about 3100 for October and possibly to 3700 by November. We owe a total of about $2000 to 6 payday places. (I know..stupid!). Some of these loans are years old and just keep getting paid and taken back out. We must stop this, but we don’t know how without just not paying any other bills! We pay 575 for rent, about 400 total for car payments (and one of them is about a month behind), furniture payments of 200, plus all the normal utitilies and a handful of various other loans that are not payday loans but still are rather high interest. We both have just awful credit…probably couldn’t be any worse. And a large amount of student loans that are currently in forebearance. Plus we have 5 children. Also, we got about 900 behind on our natural gas bill last spring and so its been shut off and we have to come up with 1000 to get it back on!
Answer: Been there and done that. The trick is to take out less the following time and only from trusted companies such as cashnetusa.com, www.elcloans.com: payday loans online (my favorite) or www.lendup.com. Example: You owe $200.00. Pay it, then only take out a loan for $150.00. The next time pay the $150.00, then only take out $100.00. And so on. It’s hard. You keep paying their interest, but you can ween yourself slowly. Or bite the big one and don’t get out anymore that week. You might also want to consider talking to a financial counselor. They can help you see where to save money and where money should be spent.
but want to chime in as someone who lives in the DMV… it’s very expensive to live here and for someone in Congress it’s tough to find a sublet in DC proper to crash while also traveling back and forth to the home state.
Not justifying. Just trying to give another perspective. Here in the DMV the *average* family feels POOR if they make less than $400K. No, I’m not kidding. And yes, there are plenty of us who make less but that seems to be the baseline right now for comfort zone.
Just another perspective.
A couple of weeks ago dh created a “hatch” in our side deck to complete a repair on the clothes dryer ventilation system. I took for granted that once he finished the chore he had nailed all the boards back in place.
For those two weeks we (meaning all humans, dogs, cats, and barnyard fowl) have been walking on/over this hatch. Today when I went out to do feed and release of the critters I discovered quite by accident as I stepped around the oh so hungry Misty Georgia that the hatch was NOT nailed together.
I went through that hole like a hangman’s dummy. Ended up in a tangle of boards and thinking all at once “omgd, I hope there isn’t a snake under there” , “Not my bad knee!” “and “I’m going to kill dh and tell God he died if I can’t get out of this hole.”
Luckily I wasn’t “really” hurt, oh my pride is bruised and my bad knee took a couple of good whacks from the 2 x 6’s that make up the hatch. I’ll be bruised and sore for a couple of days, but that is good for dh because I can’t run after him to whoop that boy! LOL!
How does this tie to budgeting and money savings or cleaning? What if I hadn’t bounced? Who needs medical bills? A dozen or less nails put in the boards would have prevented the spill in the first place and we are all given to “putting off” a chore because we are tired, it’s unpleasant to do or some other excuse.
So here’s a challenge for this weekend. Identify a problem that could end up costing you money because you’ve neglected it. Whether it’s changing the oil in your vehicle, nailing a hatch shut (dh guarantees me ours will be done asap—like tonight), putting flea drops on your critters, cleaning up the spilled grape juice on your white counter top or anything. Then take care of the problem and let us know how you did.