The U. of Iew

We all make stupid mistakes with money. Unfortunately, that’s an unavoidable part of life. In my own experience, I made the most mistakes in my last relationship. Not enough money in our account to cover rent? Let me charge it! Can’t afford to do something that my partner really wants to do? Let me charge it! We need a vacation? I’ll charge it! Yes, I knew that I was wrong. That tiny voice in the back of my mind had a temper tantrum each time I agreed to do something that was going to come back to bite me later on. The problem with relationships is that we’re more compelled to think with our hearts instead of our minds. As such, I made stupid decisions based on my emotions. The biggest mistake that I made was to co-sign for my partner’s car. Granted, we got a great deal on the vehicle. Yes, the loan paperwork wasn’t processed correctly by the car dealership, which resulted in me becoming the primary owner of the vehicle. Not my fault, but it was certainly my fault for ever signing on that dotted line. Thanks to the dealership’s mistake, I had an extra $2,000.00 of debt tacked onto my name; instead of being a co-signer, responsible for payment only if my partner neglected to pay her bill, I assumed the full financial burden of the car.

Smart move, eh?

It didn’t get too complicated until we split up. Our agreement was that she would pay the car on time each month. The minimum payment is only $100.00/month- not too difficult to manage. Unfortunately, she has consistently made late payments on the car. Yes, there is a 10 day grace period for the loan. Meaning, we will not be assessed a late payment fee as long as the payment is made before the end of the grace period. However, the bank still reports my late payments to the credit bureaus. As a result, my credit score goes down, interest rates go up, etc.

When I confronted my partner about her failure to hold up her end of our agreement, all she could do was have a temper tantrum and start hurling insults. I was “whining”, I was being a “bitch”, and so on. Now, if the shoe was on the other foot, you can bet that she’d be terribly upset by my behavior.

I’m telling this story because I wanted to offer a prime example of a financial mistake on my part. Contrary to my ex’s beliefs, whining doesn’t solve anything. So how have I been digging myself out of this financial mess?

Overtime. Lots of overtime, whenever it’s been offered. With our peak season coming up, I’ll be able to put even more money in the bank. Some of the money is going to be used for a Mardi Gras trip this February. The bulk of it will be placed it in my savings account and put towards my debt.

I’ve also cut back on my spending. I spend less than $100.00 on groceries each week. That includes dining out, purchasing toiletries and pet supplies, etc. By spending less on frivolous things and cutting corners wherever possible, I’m able to put more money in my savings account and pay off my debt much faster.

Selling some items that I no longer use has also provided me with some extra income. Books, movies, games, electronics- anything that hasn’t been used in a considerable amount of time has been sold. I’d like to get a part-time job but that’s not feasible at this time. So I have to settle for earning money in my spare time, usually by writing or helping out with random events.

I’m sure that I’m forgetting some things. That’s always the way… Regardless, I’m happy with everything that I’ve accomplished. It’s taken a lot of hard work and some quick thinking on my part, but I’m that much closer to meeting my financial goals as a result. So it’s all been worth it. I’m also fortunate to have some great friends; they’ve been an invaluable support system these past few months. One of them will probably have to serve as an alarm clock when I work Saturday overtime during peak season. What can I say? I’m definitely not a morning person.

On that note, I need to pack a few Ebay auction items for shipping. I sold an old, broken cellular phone for $41.00. Yes, there is a market for broken cellular phones. That makes sense, I suppose; they’re always good for spare parts if nothing else.

Carpe diem, y’all.