What Would You Do?

Posted on October 4, 2010 by
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Post disclaimer:  there may or may not be a hefty dose of “my-neighbor-drives-me-crazy” venting interspersed….

I love my home.  I love my location.  I love my half-painted walls in my kitchen (this WILL be done before the holidays!).  However, I do not love my first-floor neighbor.  In the few months that I’ve been a homeowner, I have witnessed what I endearingly refer to as her “seven shades of crazy” way too many times, and I do believe today may very well be the last straw.

A bit of background on said neighbor:  she’s currently in foreclosure for the third time in 2 years.  Unfortunately for her, this is the last time and she’s officially been given notice to move out of her place.  It should be mentioned that this neighbor has never made any attempt to gain full-time employment, a second job, etc. to help her financial situation.

Now while I’m never the person to celebrate others’ misfortune, the fact that’s she’s leaving has been cause for celebration among many of my neighbors, including myself.  Until today when she happily announced that because the bank owns the property she’s squatting, free-loading, destroying, living in, she’s no longer an “owner” and will not be paying her monthly condo association fees for the next THREE MONTHS (not to mention she’s already behind by TWO months).

Umm, hello?  Not paying your share of common living expenses, including the water for your own unit, the water to the hose you conveniently leave on 24/7 unless we catch it and turn it off, and the electricity for the many, many lights you leave burning 24/7 just to annoy us?!?  On what planet do you think this is sane, legal, adult behavior?  I’m supposed to foot the bill for your free-loading arse while you make no attempt to even pay the sum you’re in arrears for?  I am maddened beyond belief.

In hopes of making a more productive post, I’m curious to see what advice anyone would be willing to offer in a situation like this.  It’s clear that she still owes the $$ for these monthly fees, but she’s mortgaged to the hilt, has multiple liens and collections accounts, and has essentially refused to pay ANYTHING she owes.  Besides yet another lien that will most likely never be paid off, what course of action do we have as an association to re-coup what will be over $1.000 in fees?  What would you do in this situation?

Weekly Spending Re-Cap

Posted on October 1, 2010 by
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In the effort of gaining financial transparency through this blog, I’ve adopted the idea of the weekly spending re-cap.  The thought behind a Friday posting vs. Monday is that having the cold, hard numbers in front of me going into the weekend will hopefully be more beneficial in terms of cutting back frivolous spending. Without further adieu….

Saturday,  9/25
Condo Decorating:  $49.88
Wine for upcoming girl’s night:  $16.99
Restaurant.com GCs:  $8.00

Sunday, 9/26
No spend day! :)
 
Monday, 9/27
No spend day! :)  

Tuesday, 9/28
No spend day! :)

Wednesday, 9/29
Breakfast/lunch items:  $11.64
Wine rack stock-up:  $30.04
Dinner out:  $25.34

Thursday, 9/30
Job-related misc:  $8.00
Lunch out:  $8.16
Restaurant.com GCs:  $8.00

Friday, 10/1
No spend day! :)

Total:  $166.05

If you’ve never checked out restaurant.com, I highly suggest doing so.  Read the fine print carefully and you can easily save $100s on restaurants, especially if you live in an urban area.  The best part is that the gift cards don’t expire, so when they’re having one of their famous 80% or 90% off sales (yes, you’re reading that correctly!), you can purchase gift cards for restaurants in cities where you may know you’ll be visiting at some point.  This week I purchased over $200 worth of GCs for $16.  

Additionally, the influx of wine purchases is due to a recent buy one for $9.99, get the 2nd for 1 cent sale.  However, writing about two wine purchases in one week makes me wonder if I drink too much wine.  Is there such a thing??  :)

My Life List

Posted on September 28, 2010 by

Financial Milestones:

  1. Clear all credit card debt
  2. Become 100% debt-free
  3. Help the less fortunate
  4. Build my dream home
  5. Own a home in Boston
  6. Decide that I have enough money to be satisfied
  7. Own a home in Colorado
  8. Invest in real estate
  9. Own my own business
  10. Leave some sort of legacy behind in the form of a foundation
  11. Own a home internationally
  12. Own an island
  13. Have a positive Net Worth
  14. Own a small bar/restaurant that features live music
  15. Purchase jewelry from Tiffany’s
  16. Leave any wealth or assets I have when I go out to people who really deserve and need them

 

Lifestyle:

  1. Have a choice to walk on the beach anytime I want
  2. Obtain a Master’s degree
  3. Find the love of my life
  4. Get married
  5. Discover what makes me truly happy
  6. Have children
  7. Witness, and be present at, significant moments/milestones in my children’s lives
  8. Create a home with an inviting, joyous, comfortable, loving atmosphere
  9. Have a pet
  10. Pass on a family heirloom to my child
  11. Become a motivational speaker
  12. Help orphaned children
  13. Release negative emotions and limiting beliefs
  14. Release any feelings of inadequacy
  15. Allow myself to make mistakes
  16. Discover my life’s purpose
  17. Learn not to take what others do or say personally
  18. Figure out my priorities
  19. Learn to act within my sphere of influence and stop worrying about things which are not within my control
  20. Become an early riser
  21. Kick negative habits 
  22. Learn to belly dance
  23. Learn to say “no” without feeling guilty
  24. Drink a glass of local wine in each of the top 10 winemaking countries of the world.  The countries are (a strikeout indicates that I’ve already had the glass!): Italy, France (was too young to drink when I visited; must go back!), Spain, Australia, Chile, United States, Germany, Argentina, Portugal and South Africa
  25. Learn time management
  26. Learn more about my grandmother’s life before she’s gone
  27. Maintain a positive attitude
  28. Stomp on grapes to make wine
  29. Acquire persuasion skills
  30. Develop greater self-esteem and self-confidence
  31. Learn how to take criticism
  32. Ride on a parade float
  33. Experience bliss
  34. Find inner peace
  35. Learn how to accept compliments
  36. Practice forgiveness
  37. Heal my past
  38. Have family rituals and traditions to celebrate holidays and important life events
  39. Create my Family Tree
  40. Become a youth mentor
  41. Celebrate my 50th Wedding Anniversary
  42. Achieve enlightenment
  43. Learn how to establish rapport with others
  44. Meditate regularly
  45. Meet my grandchildren
  46. Create a tradition of getting together with extended family once a year
  47. Write a letter to each of my children telling them what I want them to know about my life and the lessons I’ve learned

 

Activities:

  1. Create, and maintain, a garden
  2. Go skydiving
  3. Drive a race car on the track
  4. Take a bartending course
  5. Drink a pint at the Guinness Factory in Dublin
  6. Write a book and publish it
  7. Learn to shoot a handgun professionally
  8. Take flying lessons
  9. Complete the Disney World Goofy’s Challenge
  10. Learn how to play the guitar
  11. Produce a documentary
  12. Take singing lessons
  13. Complete the Leadville 100 in enough time to earn a belt buckle
  14. Read the Koran
  15. Take dance lessons
  16. Build a Habitat for Humanity home
  17. Volunteer in a soup kitchen
  18. Make the front page of the newspaper
  19. Volunteer in a homeless shelter
  20. Plant a community garden
  21. Sell my original artwork
  22. Invent something
  23. Start, and maintain, a blog
  24. Write a children’s book
  25. Become a travel writer
  26. Attend a Broadway show
  27. Attend a symphony
  28. Attend Sundance Film Festival
  29. Go to the Kentucky Derby
  30. Go to a rodeo
  31. Attend the Olympics
  32. Institute an annual “Mimosas & Baking” party
  33. Attend the Super Bowl
  34. Attend a party at the Playboy Mansion
  35. Cook an entire Thanksgiving meal from scratch
  36. Ice skate in Rockefeller Center
  37. Get a Tarot Card reading
  38. Throw a block party
  39. Jump into a pool/the ocean fully clothed
  40. Write “Thank You” notes to my teachers
  41. Mud wrestle
  42. Roll my own sushi
  43. Do a Polar Bear Swim/Plunge
  44. Play Rugby
  45. Hike the Appalachian Trail
  46. Run a marathon
  47. Learn to snowboard
  48. Write a screenplay
  49. Camp under the stars on a beach and watch the sunrise
  50. Learn how to sail
  51. Build a tree house
  52. Learn to surf
  53. Surf & snowboard in the same day
  54. Learn how to play Chess
  55. Build a village around a model train layout
  56. Attend the Oscars
  57. Attend a Cirque du Soleil show 
  58. Go horseback riding on the beach
  59. Construct/refinish furniture
  60. Make stained glass windows
  61. Learn glass blowing
  62. Run an ultra marathon (50+ miles)
  63. Brew my own beer
  64. Start a fire without matches or a lighter
  65. Learn to hand-glide
  66. Break a Guinness World Record
  67. Learn how to play Poker
  68. Restore a classic car
  69. Throw a surprise party
  70. Go cliff diving
  71. Learn how to box
  72. Ride a camel and/or elephant
  73. Bike, hike, run, and snowboard in the same day
  74. Learn how to decorate cakes
  75. Have a professional make-up makeover
  76. Learn Spanish
  77. Send a message in a bottle into the sea
  78. Do a stand-up comedy routine on amateur night
  79. Go parasailing
  80. Ride in a hot-air balloon
  81. Learn sign language
  82. Go water skiing
  83. Sleep in a castle

 

Travel/Adventure:

  1. Spend an entire year traveling
  2. Travel solo
  3. Take a trip around the world
  4. Spontaneously walk into the airport and randomly buy a same-day ticket to wherever looks appealing
  5. Explore the Amalfi Coast
  6. Hike the Cliffs of Moher
  7. Orbit the Earth
  8. The ancient temples at Angkor Wat, Cambodia
  9. Stay in a 5-star hotel
  10. Spend a week or more in Thailand
  11. Hike Mount Kilimanjaro
  12. Hike/camp in Yosemite National Park, California
  13. Participate in La Tomatina
  14. See the Acropolis and Parthenon in Athens, Greece
  15. Spend time in Fiji and Bali; ideally in an over-water hut on stilts :)
  16. The Sistine Chapel and Vatican City in Rome, Italy
  17. See the pyramids at Giza, Egypt
  18. Fly first-class without being auto-bumped
  19. Take an African safari
  20. Walk across the Golden Gate Bridge
  21. Hike the Seven Summits
  22. Walk the Inca trail to see Machu Picchu in Peru
  23. Visit the Taj Mahal
  24. Watch the Northern Lights (the Aurora Borealis), polar regions
  25. Walk through the tiny villages of Switzerland
  26. Hike through the Amazon Rainforest, South America
  27. Attend Mardi Gras
  28. Island hop through the Greek Isles:  Santorini & Mykonos
  29. Hike through Transylvania
  30. Visit (not kiss…eew!) the Blarney Stone
  31. Run through Death Valley, California
  32. Hike Mount Fuji, Japan
  33. Take a boat ride through the Everglades, Florida
  34. Camp in Big Basin Redwoods State Park, California
  35. Take a helicopter tour
  36. Explore the ancient city of Petra, carved into canyon walls in southern Jordan
  37. Ski in the Alps
  38. Participate in the Rickshaw Ride
  39. Attend Loy Kathrong in Thailand
  40. Visit the Galapagos Islands, Ecuador
  41. See the Karnak temple and the Valley of the Kings near Luxor, Egypt
  42. Stay in the Ice Hotel
  43. Snowboard through Chile
  44. Explore the Mayan ruins in Tulum, Mexico
  45. Walk through Iguazu Falls on the Argentina/Brazil border
  46. Spend a week at Burning Man
  47. Visit Uluru (also referred to as Ayers Rock), Australia
  48. Spend a night in Bora Bora
  49. Visit Okinawa & Osaka, Japan
  50. Hike through/camp in Yellowstone National Park, Wyoming
  51. Hike the Perito Moreno Glacier, Argentina
  52. Witness a meteor shower
  53. Ride a camel in the Sahara Desert
  54. Have three separate meals in three separate countries; all in one day
  55. Visit the Patagonia grasslands, Argentina
  56. Take a gondola ride along the Venice canals
  57. Trek through the jungle on the back of an elephant
  58. View Paris from the top of the Eiffel Tower
  59. Explore the harbor of Rio de Janeiro
  60. Walk down the Champs Elysees
  61. Retire a pair of running shoes in the Roman Coliseum
  62. Ride a tuk tuk through Thailand and Cambodia
  63. Travel through Tuscany
  64. Visit Havasu Falls in Arizona
  65. Explore Spain’s wine country
  66. Swim in the Mediterranean Sea
  67. Run The Great Wall
  68. Travel to all 7 continents before 35
  69. Go island hopping in the Caribbean
  70. Buy a BMW and do the European Delivery Program
  71. Stand on the Four Corners
  72. Attend Oktoberfest
  73. Visit all 50 states
  74. Attend the Songkran Festival
  75. Scuba dive in The Great Barrier Reef
  76. Visit Moscow
  77. Go on a Nappa Valley wine tour
  78. The Uffizi Gallery in Florence, Italy
  79. Ride on the Orient Express
  80. Visit the Petronas Twin Towers in Kuala Lumpur, Malaysia
  81. Swim in Victoria Falls
  82. See the Banaue Rice Terraces in the Philippines
  83. Hike volcanoes in Hawaii
  84. Visit the Borobudur stuppa in Java, Indonesia
  85. Camp in Zion National Park, Utah
  86. Hike through the Grand Canyon
  87. See Niagara Falls lit up at night
  88. See the Potala Palace in Lhasa, Tibet
  89. Walk through Jerusalem’s Old City
  90. Backpack through Sydney & Cairns, Australia
  91. Visit he Hagia Sofia mosque in Istanbul, Turkey
  92. See the abbey of Mont-St-Michel in France

 

Above all Else:

  1. Create a self-study program for life-long learning
  2. Face my greatest fears
  3. Die of old age

How I Paid Off $14,000 in Credit Card Debt in Less Than One Year

Posted on September 26, 2010 by
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Simply stated, there is no “magic bullet” formula for paying off debt.  What this post boils down to is a recipe for success found through hard work and determination.

Pay off credit card debt Review the past

While reviewing my budget spreadsheet (I’ve kept a detailed account of all income, savings, debt payoff, net worth, and spending in Excel for the past 4 years), I seemingly re-lived my debt payoff journey.  With each click of a different page in my workbook, I reviewed the multitude of income-generating positions held (at one point I was working SIX different jobs!), and I found myself truly appreciating the sacrifices made to get to where I am today.

Face reality

As far as the details, I simply had an epiphany one day while charging yet another needless item at a store where I had no business shopping.  As the post-spending exhilaration faded, I finally came to terms with my need to get my financial life on track.   While I had a great full-time job that provided me with excellent benefits, salary, and constant challenge, I realized there was something missing.

Whatever that missing piece was, I finally understood that it couldn’t be replaced with shopping, vacations, or other living-beyond-my-means behaviors.  With this realization came the beginning of many things:  my graduate studies, a move to Boston (with $14,000 of credit card debt in tow), a career change, and a commitment to debt payoff.

Never stop working hard

Moving to an expensive city necessitated a change in attitude towards spending, savings, and income.  While I was interviewing for full-time work, I stumbled upon an advertisement for a part-time job in a residential assistance home.  The posting seemed too good to be true:  live in Boston for free, work only ~10 hours a week, and be guaranteed the position for at least 2 years?!  Sign me up!

Enter the phase of my life I endearingly refer to as Insanity:  full-time work, full-time grad school, a part-time gig to “pay the rent,”  and a plethora of odd jobs to bump up my bottom line.

Get creative

However, “pay the rent” is exactly what I did:  I paid to my credit card bills the equivalent of the standard rent I would have had to pay in a comparable setting (room fee, utilities, and food).  I sent at least $1,300 per month to my cards.  I chose only one card to use (sparingly) during this payoff period; one that provided cash-back and that was paid off in full every month.

Over a span of 10 months, I watched the balances dwindle and my financial freedom begin to take root.

Bye-bye, debt

In August of 2008, I made my final payment, $1,277.25, became credit-card debt free, and have remained so ever since.

 

Photo credit: Andres Rueda