Friday, November 19, 2010

My finances

Just checked all my bank account balances:
ING .91 cents
TD 0.00
Chase 0.00
Wachovia 0.00 (my business account)

However I have paid almost all Nov. bills. I just need to put away $100 for home insurance ($1,200 due Nov. 1, 2011) and $400 for taxes ($1,200 due Feb. 1st, 2011.) I may have to take care of these with my 2010 tax refund.

I also still need to pay boys allowance and get gas, but I will have money to do this by end of next week.

We also have plenty of food, and fall/winter clothes, including coats, boots, hats, gloves, etc.

The dog has food to last until the end of year as well.

I even bought the boys three Christmas gifts each and bought Jason's birthday gifts (he will be 13 on Dec. 10th.)

I also got my mom, stepfather, sister, brother, and nephew a small Christmas gift (some are homemade.)

The bad part is besides my mortgage ($125,000) I did acquire some debt this month:

Kohl's charge $300 (buying above mentioned gifts, and winter coat, and snow pants for Jason.)
MasterCard $500 (more on above gifts)
Home Depot Charge $300 (buying my sister rugs and padding for living room and baby's room, plus a curtain rod, and some paint)

So I am worth -$126,100. Seems weird to type. I plan to have charges paid off asap as I HATE debt.

I have started my own cleaning business with the goal of being able to support all my family needs and pay off above debt.

I also am still doing childcare in other's homes as needed.

In addition I make and sell homemade laundry soap, hand soap, and cleaners. Unfortunately since we left the larger homeschool co-op I lost most of my clients for this and only have one right now.

My final thought on all this is my first as well. It all belongs to God. Every dollar is His. With each dollar He flows into my life I give the FIRST 10% to do His will. It's not my money. I am just managing it for Him. My goal is to advance His kingdom and with debt this gets harder. So I need to pay off that debt asap so I can be free to do His will completely with His money!!!

Any thoughts?



HS @ Our Debt Blog said...

Some debt? that's like 1300??! Please don't learn from me, you will regret it... just say NO!!!

I now have 7k of credit debt again, it sucks!!!!


Becky said...

I know this is harsh, but I really don't think you should go into any kind of debt to buy people presents. That is clearly a want and not a need. Plus, I would think you could have found less expensive clothing options for your boys at rummage sales this past summer or at thrift stores.

I know you want to do the best you can for your boys, but I think they would learn better lessons about living within your means and delayed gratification if you weren't going into debt to buy them things.

Obviously, this is easy for me to say when I have a husband who makes decent money. I'm not in your shoes, and I'm not judging you. You asked for thoughts, so I thought I would share! I will pray for your finances for sure!!! God Bless!

Becky R said...


I agree. I hate debt. I haven't had any debt since 2006, except the mortgage I got last year.

I guess depression got me. Plus I LOVE giving, but I should have held off just now.

I will say though the thought of my son turning 13 with no gift is hard to comprehend. Plus Christmas with nothing under the tree. Homemade gifts ARE great (I love to get them and give them) but not too much homemade gifts to give my boys. Still not a good excuse at all.

My boys see our budget and so much of what we go without, so they get and understand our finances. They also buy all there own toys, birthday gifts for friends, and more (they pay for themselves if they go to movies, etc.) They have a pet sitting and house sitting buisness and used all proceeds to buy wood to build own treehouse.

I frequently check thrift shops and rummage sales and yard sales, but finding hand me downs for older kids is harder. So I did have to buy Jason a coat and snowpants, but I already made a payment to cover that so I could have done that without debt. Plus this coat and snowpants will go to Josh next year.

I blog to help me be accountable so I appreciate your comments.

Becky R said...

Debt is now below $1,000 since I made two payments on it!

Becky said...

Thanks for the messages - I really do hope my note was helpful and not just a guilt trip. I pray God blesses all of your decisions and business endeavors! :)