My Personal Financial Failures & Successes
Last month I shared how to get organized and save time by using the online service Manilla. It helps you keep track of all your monthly bills, account balances and due dates so you will never miss a payment again. Trust me, it’s no fun being late on bills.
I’m no stranger when it comes to money troubles. In fact, just a few short years ago, I was up to my eyeballs in debt and barely making ends meet. It was really bad after I left my full-time job because of chronic pain. We sold our home and downsized and moved to a smaller more affordable home and got away from a hefty mortgage payment and property tax bill. We had credit card bills, loans, and money owed even on our monthly bills like our phone and electricity bill. I was so worried all the time that we would get cut off.
I know exactly how we got into this mess and it wasn’t only just me not being able to work anymore. It was those darn credit cards and “don’t pay for a year” type programs that you see so often. My ex wanted to have everything new and always said “let’s just get it now and then we can save up the money and pay it off later when the payments start”. Ummm no it NEVER EVER worked out that way…at least for us! Sure, we had new furniture and appliances, but at what cost? I was so stressed trying to just be able to cover all the bills and there was literally no money left over for saving. Not a fun time.
How did we get ourselves out of the hole?We did some juggling with our mortgage and refinanced and paid everything off with the money. We were debt free besides the mortgage payment. That was a few years ago, and I’m getting a divorce now and I’m sure the financial stress didn’t help our relationship. However, things have turned around for me thankfully!
I’m with a new partner and we keep our finances separate. I’m in total control of what goes on in my account and I love it. The lesson I learned was to take things slow and that I don’t really NEED to have all brand new furniture, equipment or the latest gadget. I save my money and when there’s something I want I will buy it out right – no credit. I’m ok with not having my house perfectly decorated and I consider it a “work in progress”. It’s not worth the stress.
I’m also able to finally save money. In fact, I just opened a savings account at my bank last week. I want to keep money in there for emergencies and to just have that security knowing that I have something to fall back on if I need it. After living in debt for over 10 years, I never want to go back.
This is a sponsored conversation written by me on behalf of Manilla. The opinions and text are all mine. Contest runs July 14-31, 2011. Winner must be signed up with Manilla to win. A random winner will be selected by August 5, 2011. Official Contest Rules