Blog Archives

Surviving Difficulty in 20 Not-So-Easy Steps

Yes, I’ve bemoaned my pitiful luck this month here on several occasions.

No, this is not going to be another down-in-the-mouth, woe-is-me bitch session.

I’m actually going to be positive for a change and since I have only small change, I guess that’s a good thing.

I’ve bemoaned my financial fate of late and poured out my misery as to how deplorable and desperate I really am…economically…right now.

I’d like to make the following observations of the data of my financial life this month:

1. I began the month by ending last month in the negative numbers…oh…about $300. (This is NOT normal for me…at least not since those first few months after leaving The Evil Ex.)

2.  At the end of last month, in addition to the negative bank balance, I had to post-date two checks to my mechanic one for last month and one for May for the water pump that broke.

3. I am still trying to pay off utility bills for the rental unit (aka, my old house that I am walking away from).

4. I started my month with about $200 to pay over a thousand dollars worth of bills.  (That was after I paid some of the other bills first.  I don’t just have a $1,000 overhead.)

5. I was looking forward to a $3300 tax return, the first in 5 years, which would have been a nice windfall, allowing me to get caught up and all and I was required to turn this over to the bankruptcy court trustee.  Thanks to Ms. Trustee, I was allowed to keep the money I received from my partial rent payment I recieved.

6. I put everything possible up for sale on Craigslist.

7. I did have to write one post-dated check to The Good Ex for a hundred bucks to get through this week after the cat started oozing mysterious pus last Friday night. (Please, do not tell me I should have let the poor cat die.)

8. I sold nearly everything I put up on sale, except the stupid juicer, and paid all but two bills, small ones, which I will double pay tomorrow because it is payday in exactly 10 minutes.  At midnight that paycheck will dump in and I can start over for another month. The bills were the water and garbage and I’m writing the checks now for double the amounts.

9. I just checked my bank balances.  I have exactly $7.49. 83 cents of that is my savings.

10.  I have no credit cards.

11.  I have 83 cents in savings.

12. I am NOT overdrawn, in spite of this nightmare of a month.

13. Someone just called about a coffee table I had advertised on Craigslist.  20 minutes after answering that call, I now have $27.49 to my name.

14. I still have a $200 post-dated check that my mechanic will cash on the first and a $100 check that The Good Ex will cash tomorrow coming out of tomorrow’s paycheck, but…

15. I’m not overdrawn!!!!!!!!

This, in and of itself, is a huge step forward for me financially. It is small, but very definite, progress.

16.  I have not had an unexpected car repair this month…and I won’t because the car is parked and I’m not going anywhere tonight.  If it breaks down tomorrow that will come out of next month’s pay.  Let’s hope it does not break down.

17.  I had to pay $150 to an attorney last week on top of having to pay bills, put gas in two large gas-sucking vehicles, and feed a family of five, two of whom are teenagers.

18.  I got all my paper work in to the District Attorney’s office in response to The Evil Ex’s request to review the child support order. I feel better now.

19. I made a decision about what to do about the tenants in my house. I’m terminating the agreement, because I can.  The money and the stress are not worth it.  I feel even better now.

20.  I paid my bills, didn’t go into the red again, and I survived this month.

April 2012 was, by far, the most financially stressful month I’ve had in four years and I made it.

I can, for the first time all month, breathe deep, relax…and feel very, very good about being very, very strong.  Lesser people would’ve slit their wrists or swung from rafters if they faced my difficulties. (They do this because they have life insurance.  I do not have life insurance because I cannot afford it…yet.)

Advertisements

Fear & Finances; Bankrupt But Wealthy

The days, months and the first few years immediately following my second divorce were, as I look back on it now, terrifying. To be honest, they were nothing compared to the angst and trauma I endured before deciding to seek a divorce from the nightmare that was my second marriage. I was terrified that I would not be able to survive on my own. I was even more concerned because I was responsible for four children, two dogs, a big mortgage on a small shack, a car payment, and student loans.

I soon learned that I did, indeed, have much to be frightened of. I didn’t, by any stretch of the imagination, have anything scary enough to keep me in that marriage as long as my fear kept me there. I should have gotten out earlier. Looking back, there are a number of things, I should have done differently. Isn’t that the way it is with life? We look back thinking what we should have done differently, but we look back with different eyes than the ones we viewed the situation with in the first place. We look back, older and wiser, hopefully, because we learned from the experience.

I remember agonizing over finances. The ex was irresponsible with money, and, among other things, routinely overdrafted the checking account we used to pay bills. This became a downward financial spiral of robbing Peter to pay Paul. Add to this, the fact that he was hard on things. For example, cars he owned somehow always wore out quickly due to negligence and abuse thus requiring costly repairs. He was just as careless when it came to our home. By the time the marriage ended, I was over my head in debts I could not on my own salary pay, and living in a house which had been damaged by his misguided attempts to “improve” it. I bought a house that was a fairly nice ranch home in a quiet neighborhood. Three years later, you almost wouldn’t recognize the place. It looked like something out of hoarders. It was one disastrous unfinished project after another. I was left to dealt with the debt and clean up the mess.

All of this went down in 2007, and by the time my divorce was final, I was also upside down in a house that I’d never have the capital or cash flow to improve, let alone sell for what I still owed. I should have called uncle then. Instead, I went on a debt repayment plan and for the following six years I struggled to pay off debt, had no credit, no savings and more bills to pay than income coming in. I also had four very hungry children, and because my income was $50 over the guidelines, my children couldn’t qualify for free and reduced meals or any other assistance. I was awake many a night wondering which food pantry or church I could hit up next.

During this time, I also experienced blown engines on three cars (obviously not all owned by me at the same time), a failed rear-differential that dropped right out of the vehicle as I was pulling a load of firewood gleaned from a friend’s property. Of course, there were also the normal maintenance repairs and things that come up. I remember being so destitute that when gas went up to well over $4 a gallon a few years ago, we ended up walking to the store. Were it not for the assistance of friends and the kindness of strangers, I would not have survived those years. (Note: I didn’t mention the help of family members…that’s because there was none, though my first ex and his wife were angels to me on numerous occasions.) I should have walked away from it all early, applied the financial atomic bomb of Chapter 7, and then moved on.

Six years later, I’m finally getting a clue. That bomb has been set to detonate and I look back now and wonder, what was I so afraid of and why didn’t I do that much earlier?

I fought to keep my home, now I’m surrendering it. Here’s the kicker, I moved into a place that is much larger and newer than that house, has all the modern amenities (the house needed updating in the worst way), and costs less than half the house payment. I thought that I’d be hit hard with taxes this year due to not being able to use the house as a write off, but because of having a child in college, it turns out I’m getting money back. And I have to wonder why didn’t I do this earlier? Why did I try to stick that nightmare out?

You could say that if I’d known better I would have made different choices. I don’t think that’s true. I knew better about the bankruptcy. I had good information about the pros and cons. I still hung on trying to repay debt that both was not mine and which I wouldn’t be able to repay in three more lifetimes at the rate I was going. I think the real thing holding me back all that time was fear. I was afraid of the stigma of having a bankruptcy on my record. I was so worried about what it would do to my FICO score. I was worried that I wouldn’t survive.

I ask myself why I didn’t do all this earlier? Sometimes I can beat myself up about it because, after all, I’m six years older and as you get older you begin to realize that both time and money are precious commodities, but time is more valuable. I forget, that I’m looking back with different eyes than the ones I viewed the situation with first. My eyes now see that in this economy, these days, sometimes bankruptcy is not only the only option, it’s a very smart financial move. My eyes now see that if you live on a cash only basis, you don’t need to be ruled by the FICO. More than anything my wiser vision recognizes the strength and courage born of enduring. I know I will survive.

Sure, there will probably be things that come up down the road that terrify me (the second ex seeking a modification in the child support order comes to mind as it seems to portend a costly and futile legal battle). I also know that there are certain things that just won’t ever scare me again. Things do always have a way of working out, they aren’t always disastrous, and somehow I will survive. I’m wealthy in ways that can’t be measured in currency.

%d bloggers like this: