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An Introduction

August 4th, 2007 at 06:14 pm

I've never really worried about money before. Although I'm fairly frugal with my money, I have never tried to stay on a budget before. Yes, I have a budget set up in MS Money, but I never stressed about sticking to it. And I always seemed to have the money I needed to get by.

But 2007 has changed all that. I bought a house in May. This was a good move for me financially, since I won't be tossing my money away on rent anymore. But I've also spent a ton of money since May buying things I need for the new home: lawnmower, weed whacker, tools, furniture. It seems like there is always something I need for the house.

Buying a house was a smart move, but I have also made a couple of other money decisions that weren't so wise. In July, I purchased a new (to me) car. So, after years of having no car payment, I'm facing years of debt. I like the car, but I'm not sure this is the wisest decision I've made.

So, instead of stressing about what I've done, I've decided it is time to get proactive with my finances and get rid of that debt as fast as possible.

So, here's where I stand: I have $1580 left to pay on the new furniture I bought for the house. And $15,995 for the car.

I know I can reel my spending in and save money, and I'm excited to see what I can learn in this process.

Posted in Uncategorized | 8 Comments »

8 Responses to “An Introduction”

  1. baselle Says:
    August 4th, 2007 at 06:34 pm

    Welcome! What else are you working with? How is your mortgage?

  2. jdedit2001 Says:
    August 4th, 2007 at 07:32 pm

    Thanks for the welcome. My mortgage is very reasonable. I'm in the midwest, so housing prices aren't extravagant like they are in other parts of the country. My payment is only $75 more than my rent was. No other debts to speak of besides the car and furniture.

  3. shiela Says:
    August 4th, 2007 at 08:05 pm

    Welcome and congrats on the new house.

  4. Carolina Bound Says:
    August 5th, 2007 at 05:21 am

    With no substantial debt and a reasonable mortgage, you are doing well. But it's good to start being mindful, as you are, at this stage. Good luck on paying down the car debt!

  5. Ima saver Says:
    August 5th, 2007 at 06:19 am

    Welcome, glad you have joined us!

  6. schadenfreude Says:
    August 5th, 2007 at 07:09 am

    Congrats on the new house! And yes, I too learned that the purchase of a "real house" does not stop with signing those mortgage papers! I spent over $3,000 in the first 3 months with all the necessities that go along with it.

  7. frugalhousewife Says:
    August 5th, 2007 at 07:20 am

    Welcome! I am looking forward to reading your blog. Good luck as you work to pay down your debt!

  8. Amber Says:
    August 5th, 2007 at 07:31 am

    First, I'd like to say welcome and congrats on the new house. You have come to one of my favorite sites these guys are great. I too purchased a used car (goal is to have half paid off in a year)and would some day like to own my own home, I look forward to reading about your progress

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