Busy six months

It has been a busy six months in our household. I had canceled our credit cards and we were going without, we had a cash only Christmas, AND I was able to pay off two large debts. Lots of sacrifices were made to make this happen, bit it was all worth it. We sold a car and replaced it with a cheap cash-only alternative, canceled all extra utilities, didn't go out, didn't eat out, worked extra jobs and finally pulled through a big win. Granted, we still have a ways to go, but are in a much better position than we were six months ago.

The biggest lesson learned - FILE YOUR HOMESTEAD TAX EXEMPTION! I waited too long to do this and got burned by my mortgage payment for the last year. That, however, has changed and our new payment is $300 less than it was before, freeing up that much more in the budget for the debt snowball. It is probably good timing because of the ongoing medical treatments the girls will need, but with insurance hopefully covering everything, we should be in good shape.

The next thing on the radar is a couple small medical debts and the Van being paid off. I'll be sure to update this more frequently as we knock down more debts. It CAN be done people.. you just have to have discipline.

Whew... Can I get off this ride yet?

Ok, so I've been quiet on here for a bit, but that's because I've been holding on for dear life trying not to get flung off this marry-go-round of disaster. In July, our insurance reset, so we got another $500 put into an account and $1000 put into our Flex Spending account to last through the end of the year. By 7/31, all $1500 of that money was gone and we are just about through our deductible (of $3000). Granted, it started a bit lower because of the first 6 months of the year, but still :).

Then, to top it all off, Piper had to get some dental work done and because the Dentist lied about taking our insurance, we owe $591. Sure, they can "take" it and send the claim in, but for the things that are actually covered, it is at 60/40 instead of 80/20. Also, because they are out of network, other things cost a bit more. When I confronted them about this, they simply said "oh yeah, we're not in the network because they make us charge less." No kidding... you don't say?

So, here is my nastygram against "Pediatric & Adolescent Dentistry" in Carmel, Indiana. We saw Dr. Laura Brinson Grahm, who actually is a great Dentist, but her business practices are complete crap. The other dentist in that practice is Dr. Rebecca Stuart Donnelson. I'm not sure of her competency, but I still insist that no one do business with them, and if you do currently, please stop :). And for Google's sake, here's some more information in hopes this gets indexed: Address: 13450 N Meridian St. Suite 363 Carmel, Indiana 46032. Phone: 317-846-5893.

Thanks to the wonderful freedom of speech we all have, they can't force me to take this down either, so eat it :). Stating that you can process Delta Dental isn't the same as being in network, and you need to make that clear to patients in need of semi-emergency work.

I've officially got the Vibe listed in hopes of selling that and paying off another year old hospital bill. I've actually got someone coming to look at it tomorrow. They've contacted me before and from the first email I'm sure they are going to low ball me, but we'll see how things go.

What I really need to do is stumble into about $30,000 somehow. That would make things much easier to deal with (and get a few predatory lenders out of our lives). I'd still have a ways to go, but it would be at least a bit more doable. At least my beater is running strong, and I got the AC somewhat fixed too -- so I'm not losing 20 lbs of water during my drive home everyday :).

Let this be a lesson -- Debt is bad, and even worse when you don't have an emergency fund and actually have a couple long term medical conditions to take care of. Cut the cards... live within your means.

More Car Voodoo

I've had some time to really check out the car that I talked about in the last few posts, and have discovered some pretty cool things. The main gem in this is the exhaust problem I had I was able to fix with a $5 roll of JB Weld putty. Turns out that when they put the exhaust on the car, they only welded the bottom half of it to the flange that connects to the header, not the top half. So, a little bit of putty crammed into that joint later, I've got a sealed exhaust system :).

I spent some time cleaning the interior too and it is in surprisingly good shape. I imagine if the previous owner took the time to actually clean it, he could have gotten a lot more out of the car. I'm going to be getting some seat covers here soon, but the seats really don't need it -- they just look a bit dull. After I do some more little cosmetic things to it, it will be a pretty nice little car.

Mechanically, I need to recharge the AC ($30 kit), and at some point the wheel bearings may need to be replaced (I'm noticing some odd vibrations when coasting). Even without doing the usual tuning I do to the intake, ignition, and exhaust systems, this car is getting 32-35mpg -- not bad for a 13 year old car. I'm really curious to see how well it does after I play with it some more.

Now, all I have to do is get the vibe cleaned up and listed for sale. I'll let everyone know how that goes soon. Hopefully it will sell quick :).

Forum Credit Union = Awesome

A few posts back I was ranting about Chase and their aptitude for not being customer centric. With that in mind, I'd like to tell you what happened with my recent dealings with Forum Credit Union.

I had a few questions about a loan I have through them, so I logged into the online banking to get my account number to call. While there, I noticed they had an online chat option, so I decided to check that out. The app ran surprisingly well, and I got someone right away. We worked though the question that prompted the visit, then she asked the classic "Is there anything else that I can help you with?"

"As a matter of fact, there is." I answered. I asked her what would be involved in setting up a checking account, because I was wanting to move my banking business away from Chase. She responded "I can do that for you right here. I just need you to accept these conditions. Agreeing in this chat is the same as doing it in writing." She then proceeded to paste a few paragraphs into the chat window.

That was all it took. She later asked if I wanted debit cards, so those are on the way now. It was by far the coolest experience I think I ever have had with banking. In contrast, most of the correspondence I've gotten from Chase was a small bit of actual content surrounded by auto-generated legalese and the typical "You are very important to us" nonsense. If I were so important, why is most of what you send generated by a computer?? :)

Anyhow, if anyone is looking for a financial institution that isn't going to screw you over (in service or financially), I would highly recommend Forum. They are quick, courteous, and well, they are a Credit Union. They weren't involved in the sub-prime shenanigans and have a decent financial position. Unlike Chase, I don't foresee Forum changing rates on anything to try to compensate for their bad decisions -- but I digress :).

Bottom line: Forum Credit Union = Awesome.

It may be Crap, but it's mine.

Project "find a beater" has been a success, and as of last Friday, I'm the proud owner of a 96 Grand Am. To be fair, it probably isn't that much of a beater. I mean, the interior is a bit rough, the engine is strong (recently rebuilt), and the body is in GREAT shape. The kicker is, I managed to pick it up for $850 :). It has 155,000 miles, which is low for a car that old.

The only REAL problem with it a small exhaust leak between the header and catalytic converter. Out of comic curiosity, I called a muffler shop to see what they would charge me to replace that section of pipe. Apparently "they would HAVE to replace the entire cat for that pipe to be replaced" -- at $600. I was trying really hard not to completely laugh at the guy considering the car is only worth $850 :). After some quick searching at Advanced Auto Parts, I found I can fix it for under $50. SO, that will be my project for this weekend. After that is done, I'll be able to start driving it as my daily, so the Vibe will be listed for sale soon. It will be good to finally get this debt snowball rolling.

If anyone is interested, it is a 2003 and in awesome shape, 88K miles, and I will be listing it for $6800 :).

I'm actually kind of excited about this in a sick sort of way. It reminds me of getting my first car. Even though it isn't all that great, you can enhance its value by accessorizing it :). I'm totally going to be getting an 8-ball shifter for this thing... :)

It has been a LONG month...

Indeed, it has been a long month. Nothing seemed to be going right in the midst of getting beat down by bills, but I have a plan that might do the trick.

Basically, I'm going hardcore and have been getting rid of services and picking things to sell to try to get extra money and to reduce monthly outlay. The latest victims? DirecTV and Vonage. Most of our entertainment comes from Xbox Live and network TV, so the DirecTV had to go. I dropped Vonage and went back to a basic line just so that the alarm has something to use.

The next step will be to get rid of my car. I'm currently looking to pay cash for something around $1500 or so. The idea is that by spending $1500, I can free up roughly $6800 in debt and get rid of about $300 a month in monthly obligations (depending on what I can get for the vibe, of course.)

I've also been working like crazy in a second job to help fund the car plan, so hopefully this will fall into place soon. I'll keep you updated on how it is going when I get the snowball rolling.

Money Saving Tip: Cheap Family Outing

Yesterday we decided to go to the Zoo, which normally could be a fairly expensive ordeal. We, however, managed to go with no cost aside from a couple small things we got the girls in the gift shop. How did we accomplish this great and wondrous feat? Let me explain :).

Now, it does help that we had free tickets to get in, but a lot of money can be spent on drinks and food. Instead of buying that $5.00 burger and $3.00 beverage for everyone, we decided to have a family picnic. The Zoo here doesn't allow you to bring in your own food, but they do give pass outs so you can go back out to your car. There, we opened up the back of the van, sat down, and ate our packed lunch. It was actually a really cool experience. We were the only ones out there, so it was quiet and we were able to sit in peace and enjoy our food and our company without distractions. I tell you what, that sure beats fighting lines and crowds of people to get overpriced food. Not dealing with other people's bratty kids is a plus to :).

Lazy....Economy, and Other Musings

After my glorious rant before, you'd think I'd run right out and try to switch banks. The truth is my work hours keep me away while the banks are open. I have, however, found out there is a branch of a particular bank I want to check on close to my house, so maybe over a weekend or a day off I can run up there and get this business straightened out.

On a positive note, despite what the government is trying to do to the economy, it seems to be starting to recover on its own. With the DOW approaching 8000 again, things are starting to look up in various markets. Let's just hope it continues. My only problem is not having any cash to invest now, because man, I would make a killing :).

The other day I was listening to a local talk radio show, and the host brought up coupons. Specifically, he was wondering if people who thought coupons were too much of a hassle were starting to use them if they had them, or were actively hunting them. I suppose I'd fall into the category of using them if I have them, but I'm definitely not actively seeking them out. Perhaps I should. Let me pose this question: how many of you are using coupons more when you didn't before? Also, if you are, where is a good and easy place of finding them? :). Like I said before, I'm too lazy to put too much effort into anything for too long :).

Until next time..

How Chase is Screwing Its Customers

I know times are a bit lean, especially if you are a financial institution. However, this doesn't give you the right to take it out on your customers in a somewhat captive market.

This story I have heard from multiple sources who come from every walk of life. Until it became my own, I wasn't aware of it. After things affected me and I started looking into the problem more, I became increasingly annoyed with those responsible.

Here's the deal. I've been a customer for chase for quite a few years. I've got a decent credit rating, always paid my bills on time, and brought quite a bit of business to Chase. I was a "responsible customer" as you might want to call it.

The financial crisis hit, and can be boiled down to irresponsible banks giving loans to irresponsible or ill-informed people who couldn't afford said loans. These handful of people completely crippled the financial system because so much was riding on the product they were failing to support.

Fast forward a couple months, and I get a notice in the mail from Chase stating they are changing the terms on my Credit Card. These types of things aren't really that big of a deal, but I actually decided to read this one a bit more closely. Even though I've been a good customer, a "responsible" customer, my interest rate was being changed from 6.5% fixed to 10.99% variable -- which in today's market puts it around 13%. So, for being responsible, I get "rewarded" with a 116% increase in my interest rate wheras those who have been irresponsible with their funds are getting handouts (bailed out) from the government. The interest rate I was moved to is higher than my first credit card I got when I was in HIGH SCHOOL working part time -- and had no credit history.

More stories I've heard range from adding monthly service fees to boosting interest rates even higher -- upwards of 22%. After some heated messages I finally got a reason -- "we needed to adjust our terms to make these products more profitable". So, due to their bad business decisions, those of us who did nothing wrong are being shouldered with carrying the company out of this mess.

As I noted in a previous post, I'm working on moving my business elsewhere. To reference the "captive market" comment above, in today's climate it is getting increasingly hard to find someone willing to take on a large chunk of unsecured debt i.e credit card balances. As soon as I can find somewhere I can move to, I am jumping ship and I hope that most of Chase's customers are in a position to do so.

I know you're hurting, but alienating your good customers is not the way to make it through unscathed. This is the same backward mentality that keeps certain parties from cutting taxes to stimulate the economy because they think it will cut into their tax revenue too much. Here's a news flash -- you put more money back into people's pockets they will spend it. The tax revenue collected from this spending would far outweigh the cost of giving people money back.

As the saying goes - "I'll promise to be nicer when you promise to be smarter". Here's to you Chase.

Negotiation Works Wonders

Today I actually accomplished something pretty nifty. I had two separate bills come in from a hospital a month apart. I had set up 3 month payments on the first bill before the second came in (and was three times the first). I managed to get them to combine the two bills AND reset the three months for the new amount. Also, the way it sounded, I could have pushed the payments off a month if I really needed to.

One other minor accomplishment of late was getting the Bank of America to reset my payment date of a loan so that it was in the end of the month. Our bills were WAY too front-loaded on the month to be comfortable (had the budget right, but cashflow was never there). It will take a couple billing cycles to change (a complete crock), but at least they changed it.

The moral of the story? It never hurts to ask I guess. I never really did this sort of thing before because I think I was a bit ashamed to ask for help. The more I'm dealing with this stuff, the more I'm wanting to ask for terms to be different and things of that nature.

Cash Only Christmas

I have to say, I was a bit worried about doing things this way, but I feel a ton better knowing that I won't have a huge bill after the holidays :). We got all of our shopping done on black Friday, and have just been sitting back waiting on the fun to start.

I have been watching some deals and ways to save out there, and it looks like a lot of places are offering big discounts and cash back if you use your paypal account to pay. Check it out :)

Quick Money Saving Tip

I was in Target the other night picking up a few things, one of which was diapers. If you have kids, then you know how many of those bad boys you end up going through and how much of a drain on the budget they can be. Anyhow, after I found the size 5 diapers, I noticed something a bit off about the price. I wasn't exactly sure what it could be, but the numbers just didn't sit with me.

The smaller pack was listed at $9.99 for 40, and the Super Jumbo Mega Value Pack was $18.99 for 72 diapers. It must be the little bit of OCD in me, but the numbers didn't feel right. I pulled out my trusty calculator to figure out the cost per unit of the diapers I was about to purchase.

I looked at the Jumbo Pack first, figuring it was going to be the best deal. The cost per diaper is $.263 per diaper. I thought that wasn't too bad, and checked out the smaller pack. To my surprise, the 40 pack came out to being $.249 per diaper.

So, I bought two 40 packs and went on my way :). The moral of the story is that the large bulk packs aren't necessarily the best deal. Always check the price per unit to make sure you're not that hapless victim of a marketing gimick.