dcsimg The Get Rich Slowly Forums • View topic - College Graduate to Debt Recipient

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Fri Oct 24, 2014 5:06 am




Post new topic Reply to topic  [ 8 posts ] 
Author Message
 Post subject: College Graduate to Debt Recipient
PostPosted: Thu Jul 12, 2007 7:54 pm 

Joined: Thu Jul 12, 2007 7:28 pm
Posts: 10
Location: North Carolina
My name is Justin Golds and I graduated from college in 2005. I have been working for a door and window manufacturer. When I started working, I rented an apartment with a buddy and proceeded to spend every dollar I had to do what I wanted, like going to Vegas on two days notice. After six months I bought a house to fix up and dug right in. Since I am addicted to working on my house, I now owe Lowe's my first born child.

When I started realizing my debt was piling up I tried to fight it by earning more money so I tried a home based business that failed and threw me deeper in debt. It was not until about three months ago that I woke up and decided that I needed to make major changes. I found this site and studied it for hours on end. I cut up my credit cards and got out of any monthly commitments I had and have been working on my debt ever since.

Right now I owe a little over $16000 in credit card and credit line charges. I have worked my Lowe's credit card down from $1700 to $1200 and want to have it paid off in the next 4 months. I still make my monthly payments on the other debts. The biggest thing I have learned from this site is living below my means. I used to be up for anything and didnt worry about how i was going to fund it. Now I look at the overall cost involved with an activity before I dive right in. Instead of looking just at the hotel or golf costs, now I see the gas and food costs associated as well.

My next step is to creat a full budget and start tracking every dollar I spend. I know I can get more debt paid off if I look closer at my spending habits. I will continue to update as I make more progress in the months to come.

_________________
Justin Golds
Digging myself out of debt one inch at a time.

http://dollarandsense.net


Top
Offline Profile E-mail   
 Post subject:
PostPosted: Thu Jul 12, 2007 9:04 pm 

Joined: Wed Apr 04, 2007 9:50 pm
Posts: 752
Location: Vancouver, Canada
Congratulations on making the switch. Have you thought about getting a second job to help you pay off your debt faster?

_________________
Andrea Coutu
Consultant Journal
www.consultantjournal.com


Top
Offline Profile   
 Post subject: Re: College Graduate to Debt Recipient
PostPosted: Fri Jul 13, 2007 8:02 am 
User avatar

Joined: Thu Apr 05, 2007 6:30 am
Posts: 336
Location: Houston, TX
dyad8 wrote:
My next step is to creat a full budget and start tracking every dollar I spend.

Something tells me you're going to love this part and be quite successful. Good luck.

_________________
Read my 'fiscal fitness' financial disclosures here.


Top
Offline Profile   
 Post subject:
PostPosted: Sun Jul 15, 2007 9:37 pm 

Joined: Thu Jul 12, 2007 7:28 pm
Posts: 10
Location: North Carolina
I have not taken a second full time job but I have been working on the side installing windows, doors and siding. The extra money really helps me in paying off my debt. I worked on my budget this weekend and that is a bear of a project. I neve knew I had so many little things to pay for.

_________________
Justin Golds
Digging myself out of debt one inch at a time.

http://dollarandsense.net


Top
Offline Profile E-mail   
 Post subject:
PostPosted: Tue Jul 24, 2007 7:40 pm 

Joined: Thu Jul 12, 2007 7:28 pm
Posts: 10
Location: North Carolina
I ran into a major set back today when a bill came for my credit card. I have been making the monthly payments with a little extra on the principle. All of a sudden I get a bill for over $400. It says that current activity has put me over the limit but I cut that card up a long time ago. I fought all day on the phone but have not gotten anywhere so far. I hope that I can get to the bottom of this and not have to make this large payment but I guess I will have to wait and see.

_________________
Justin Golds
Digging myself out of debt one inch at a time.

http://dollarandsense.net


Top
Offline Profile E-mail   
 Post subject:
PostPosted: Tue Jul 24, 2007 9:50 pm 

Joined: Wed Apr 04, 2007 9:50 pm
Posts: 752
Location: Vancouver, Canada
You might want to contact the credit bureaus for free credit reports, just to make sure no fraud is taking place.

_________________
Andrea Coutu
Consultant Journal
www.consultantjournal.com


Top
Offline Profile   
 Post subject:
PostPosted: Wed Jul 25, 2007 10:48 am 

Joined: Tue Apr 17, 2007 9:34 am
Posts: 124
Location: Deep in the heart'a
Justin, have you been looking at your statements online? (if that card has the option) It sounds very much like fraud to me. It happened to me recently, when someone charged something like $750 on my credit card at flowers.com or something. One phone call to the credit card's fraud line and it was cleared up immediately.

_________________
Steal what works, fix what's broke, fake the rest


Top
Offline Profile   
 Post subject:
PostPosted: Wed Jul 25, 2007 6:35 pm 

Joined: Thu Jul 12, 2007 7:28 pm
Posts: 10
Location: North Carolina
I guess I freaked out a little early. I managed to get ahold of the fraud line today and get things cleared. Turns out my card was used to purchase something in another state. Now I just have to go through the hassle of getting my card straightened out.

_________________
Justin Golds
Digging myself out of debt one inch at a time.

http://dollarandsense.net


Top
Offline Profile E-mail   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 8 posts ]  Moderators: kombat, bpgui, JerichoHill, Fiscal Fitness Moderator


Who is online

Users browsing this forum: No registered users and 9 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki