Thread: My sig explained (finally..and it's a fricken' novel)

Just found this one (I don't come here much anymore). first off, congrats on learning your lesson early. I love that you're keeping track of your progress in your sig. keeps you accountable and focused.

I will say though, please don't do like so many people do and blame credit for your misfortune. So many people get in debt, get out of it, and then act as if it were credit's fault. When someone says that, it suggests they never really learned anything. Credit is a wonderful thing when used properly, it just takes a LOT of self control.

I have two friends that apply to this thread ... one was in debt pretty bad, not sure how much or what from. But he did like you did and set a 2 year out of debt plan (not sure if it was ramsey or not tho). He's coming up on the end and has done a damn well job of completing his goal (if you don't count his house). So I know you can do it as well.

The other is in the boat you were a few months ago. In debt, and still digging. He's a smart guy, but makes the dumbest decisions when it comes to credit (letting 0% promos expire and getting charged interest all the way back ... keeping 3 cards at 18%+ instead of getting some new lower rate cards ... spending spending spending ...etc). I get the feeling he's not being honest with himself regarding his situation. Mind making any suggestions for books/tapes I could get him to get started? You seem to like the ones you got ...

Lastly ... if you have a Masters in IT and are only pulling in $24k you need to get out of there and quick. I'm not trying to be rude, but seriously when I graduated with my BS I started at almost double that. I'm not trying to rub it in, and I'm sure the area I live has many more opportunities, plus I was fairly lucky ... but there's no reason you shouldn't be making $40k+. I'm sure you are ... but keep those eyes open for a new job. It can only help you reach your goal faster.

good luck.

Anything by Dave Ramsey is good, and it's all the same message. He's also on the radio there in atlanta but I dont know off the top of my head what station.

As far as the job situation goes, I am going to wait till the end of this month before I throw my full weight into getting another job. Primarily this is because I need to do some things first before I can pick up and leave here like save up some more money. When I have about $3000 in the bank then I feel like I can go somewhere.

I actually went home this weekend to figure out my parents' situation, but I looked for apartments while I was home. Six months ago my financial situation was such that I HAD to take the first job offer I got. I was talking with 3 different companies about a job and the one here in starkville was the first to make an offer so I took it. There is a company in Nashville that was looking at me pretty hard and thier website says they have not filled the position yet so that's gonna be the first call I make.

you might could even get them to pay for you to move. that'd be sweet.

Originally Posted by shakes

you might could even get them to pay for you to move. that'd be sweet.

sorry to thread-jack wizardPC...

shakes, have you had any experience with negotiating relocation expenses? i'm looking for a new job and most happen to be out-of-state and i was wondering how companies deal with relocation costs.

Thanks

I haven't had any personal experience but I know a number of people who have relocated with the company I work for.

The company I work for offers two options, either then can handle all the relocation expenses up front (meaning they schedule everything and you do it on their terms) or you make your own arrangements and they give you a dollar amount not to exceed. I think in the latter example you pay for stuff up front and they reimburse you.

Usually companies have predefined packages and the dollar amounts are set based on how far you are moving. So the first step in negotiating is just asking what if anything they'll cover. If you feel like they should cover more say so ... worst they can say is no.

At the very least they should cover any charges to ship your stuff to the new location plus travel expenses (gas, etc). A lot of places will also give you a temporary apartment for a few months (they may or may not pay for it) so you can get a feel for the area before getting your own place.

so is your company hiring






no...seriously

maybe ... it's not an IT company, just has some IT folks for internal support. If you're willing to move to Milwaukee there's more opportunity (but the weather sucks).

there was a guy in colorado who had the same position as me ... he uh ... is no longer with us (on earth) so I think there's an openeing there.

I'm not real fond of this company right now but it's better than nothing right? I'll PM you.

I did almost exactly the same as you, well not the seat burning but everything right up to and including flight school but i put $18,000 into flight school then decided I really didnt want to sit in the drivers seat of a flying bus day in and day out. soon as I turned 18 I bought a used yamaha radian 600 for $2500, then i got a credit card, and another, and another, of course I maxed em all out because there was alot of stuff i realllllllly needed, car audio mostly. so i continued to max out my cards, get a personal loan for $4000 and dig myself in deep for about 7 yrs.

to make matters even better, with all the debt I packed everything I owned and moved here to florida, used all of my cash to get here and find a place to live, ended up with a useless roomie who just wanted to throw parties all the time then not have his share of the rent cause he spent it all on beer.

got out of that situation, moved in with my gf, split up with my gf after 2 yrs, a week later she calls and tells me shes 2 months preg. moved back in and 6 months later moved out. finally doin ok, got a new apartment all to myself. still got the debt but ahh life was good.

fwd to 9-10-01, my daughter is born, 9-11-01..terrorists, hmm i work for an airline, not good 2 weeks later i get my option, part time or no time. I pick part time, so there I am, new apartment ,new baby, and pay just got cut in half.

needless to say, lost the apartment and moved into a whoppin 600ft studio apartment.
new lesson,kids are EXPENSIVE! then i get hauled in for child support...happy joy, talk about a biased system. So i decide the airline job just isnt for me anymore and I'll go to school for network tech. I spend 2 semesters in school and get fed up with working, school and trying to be a daddy, so i drop the school. add another $2000 for school loans so make it an even $20,000

well livin paycheck to paycheck but still afloat. ahh I have an idea today I'll learn how to surf....heh, shallow break , no biggie. until..slam, hit the sandbar hard and break your foot in 6 places. Out of work for 3 months, well there goes the apartment.....

lucky for me i have good friends who offered to let me stay in thier spare room till i could get stuff back on track. Finally I decided to just go ahead and file chapter 7 bankruptcy, there no digging out of this, the apratment complex wants some $3000 for early termination, fees, bogus misc junk added on. Woohooo chapter 7 clears my debt...mmm not quite, it doesnt cover student loans $20,000.

woohoo, got my full time job back and a raise too, life is good...well seeing how I had been driving my last car for about 11 yrs and it was on its final leg I decide its time to buy a new car...enter the PT. $13,900. right about that time i move out from my friends and get another place of my own.and this is where i am today. still have a buncha debt to work out but not living from paycheck to paycheck just yet...paycuts are comming in 30 days though, i lose 20% again...man, i hate the airlines, now if they just didnt pay so well...ughhhhh

oh and by the way, heres what totally screwed creit willdo for ya...I cant get a mortgage if my life depended on it and my interest rate on the car is like 17%

so yeh man i can totally relate to your sig, i just wish they would have spent time on stuff like this when i was in highschool. if there still arent classes in schools that deal with personal finance there should be and they should be mandatory.

JaxPT, i am looking at your debt of $20K and thinking it isn't actually that much as i have £14K (over $25K) in one student loan to the government but i guess i am 'lucky' that the interest i have to pay is less than the current rate of inflation and i will never see the money - it will be taken from my pay every month when i get a job. I wonder how the hell i spent £14K loan, £10K i earned and £400 a month off my parents but at the end of the day when i am 80 and have laods of money and can't spend it as i am old and decrepid i won't regret having fun while I was at Uni. Funny thing is, now i am compeltely supporting myself i am struggling to keep my head above water depsite having more money than ever coming in but i think it is because i was sensible before my degree and arrived with a nice healthy bank account from working for a year.

It is amazing how much you can save in one year if you just cut down on the waste. Good luck with clearing the debts and just be sensible and careful but make sure you have some fun (but cheap fun) and the more you pay off the easier it gets.