depression

Being depressed due to my finances

What is the first step to make or take; when everything seems so pointless? I am struggling with the mortgage crisis and not sure what to do right now. Any advise?

Do you have savings in place? Do you have a written budget? If not, those are two things I’d work on immediately. The second one can be done without money… just put it all on paper! Have you called your mortgage company yet and tried to work out a forbearance agreement/repayment plan? I got 2 or 3 payments behind a while ago and they worked with me, especially since I made sure to keep in contact with them and I was able to set up a repayment plan that spread my past dues over a 6 month time period. It made my payment about 250 more per month and it has been hard for us but I don’t want to lose the house. We fell behind because of job changes that my husband made.

First, realize that there is a way out. If you pray, do it. God is up 24/7 so don’t worry.

Then, sit down and be brutally honest about your current financial situation.

What do you have available? What needs to be paid? Do you have any money you can get to right now? Savings? Sell some things? Borrow it?

You need the roof over your head. You need to eat. You need your utilities to work.

When do you need the next payment and what is it for? You may have to let some things slide so you can handle the priorities. See above.

Skip the credit card payments for the time being. Pay your mortgage. Skip eating out, if you do. No more daily newspapers. No more buying lunch. Pack it. PB&J will fill your stomach. Ramen noodles are not just for college kids. Boil some eggs.

You must address your immediate needs. Provide a bit more information please.

Your posts always are right on, you are very good, do you do this for a living??

No. I don’t do this for a living. I am just so determined to get out of debt. I finally “tired for myself” as my great-grandmother used to say.

I have been reading everything that I can get my hands on, listening to Dave Ramsey on his new t.v. show, reading books from the library, web postings on MSNBC, USA Today, abc news (Melody Hobson), Today (Jean Chatzky), etc. I just want to be free!

I set up a savings account and set it up to automatically receive money from my paychecks. That way, there will be something saved and I don’t have to think about it. I have found in the past that SOMETHING tends to come up and I would not move the money over to savings. I am hoping that doing it automatically and painlessly will help.

I tell people all the time that it is your paycheck, if you want to cash it into $1 bills and burn it in the driveway, that is your right. It is your money after all.

However, when you have debts, it seems like you are constantly thinking “I get paid on Friday and I have to pay this and this and that and this” and you think “What’s the point?” I don’t want to live like that. I don’t want to have to think about every little purchase. I don’t want to calculate the grocery list weeks in advance in order to afford what I want to feed my family. I am fine with coupons and use them regularly.

Shopping on sale is terrific. I am all for it, but I am sure there are other people like myself. You think about things in terms like “this paycheck is for the car payment”; “that paycheck is for the car insurance, mortgage, daycare, and shoes for this family member (can’t get everyone’s shoes at the same time)”. You think about what will have to be shifted if you “splurge” and buy this or that when it was not originally on your list.

That is no way to live. If I see that blouse or that jacket or some toy for my child on sale and I want it, I want to feel free to get it. Life should not be just about paying bills. So, our family is a work in progress. On December 31, 2015, I fully intend to be tied to a lot less debt than we were on January 1, 2015.