Feeling the Crunch!
The road to debt free living is filled with so many set backs and detours. It is a hard course to stick to. Sometimes it is just plain frustrating, and sometimes it feels as if we will never get to our destination. I'm at that place now.
It began in the spring when one of our renters (in the house we can't sell) moved out. That was a big blow to our budget. Paying extra on debt was put aside. The belts were tightened. Then with summer our income took its normal hit that comes with Tim's job. We did have money put aside for that. Now we find ourselves half way through the summer, the rental is still vacant, the cushion money is almost gone, and our income has taken another small hit. The blog is not making what it used to.
Combine all these income side hits and the rising expenses that have come from high fuel prices and we are feeling the crunch. Getting out of debt is no longer seems to be the destination. We are back to focusing on making the ends meet, to paying all the bills on time. I hate being in this place.
I get angry because we've worked so hard, with so little to show. I get frustrated because I don't know how to increase the income or where else to cut the expenses. Things are pretty basic here. Don't get me wrong, there certainly are things we have and do that are not true needs, but high priority wants. Those would be painful cuts.
I want to kick and scream, "IT IS NOT FAIR!"
I guess on the road to debt free living I'm stuck in a traffic jam.
Labels:
paying on debt
5 comments:
I so hear you on this. Guess we should plant more money trees! ;)
Wow, I could have written this too hun!
Our debt payoff has slammed to a stop and just getting the minimum payments made is a struggle.
It makes me MAD! I hear ya sister, you are not alone!
It really makes me mad when undeserving people get lucky breaks at every corner. It always seems like luck is on everyone's side but mine:(
Focus on getting your house rented as soon as possible as the easiest way to improve your cash flow. Do you have a property manager? Ask them what you need to do to get the property rented by the end of the month. Then do it.
Usually lowering the rent is the easiest way to get a house rented. It's better to take a small negative cash flow monthly than to lose several months of rent.
If you do not have a property manager, take a long hard look at the rental market where the house is located and at the house itself. Fix what's wrong with the house and price it near the bottom of the range. Market the heck out of the property, using signs, Craigslist, or whatever low-cost or free advertising venues are available.
Getting the house rented should make a huge difference in your cash flow and put you back on track. Using up all your reserves waiting for a tenant places you in an extremely precarious financial position.
Hi Stephanie,
I am really sorry to hear about the challenges you've been facing. I undertsand how you muct be feeling. But just hand in there for a while and try to look at the brighter side, Imagine what would have happened if you hadn't had the foresight to save that money cushion for the rainy days. You could have gotten buried in more debt already. So trust yourself to do the right thing. Hopefully the second half of July will bring better days for you and your family. Wish you all the best.
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