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tyler19 · Posted: Mon Nov 13, 2006 1:56 pm Subject: The journey Starts tommrrow.

Tommrrow I start my second job. I will work 40 hours a week during the day and I work 50 hours a week overnight. I owe 11,000 in credit card debt, and about 6000 in miscalaneous debts. and 9500 on my car. I have a gf who is also working two jobs.

I make about 1500 every two weeks now with the two jobs. Also my gf makes 1500 every two weeks. Are minimums and basic expenses are about 2000 a month.
We will have approx 3000 a month to pay off bills.

this is my plan ( looking for feedback ) :

Month 1: Pay 3000 on credit card
Remaining Balance: 2000

Month 2: Pay 3000 on 2nd credit card
Remaining Balanace: 3000

Month 3: Pay 3000 on Car Loan. Im upside down on
the loan so this would put me around what the car is worth.
Sell Car and purchase cheaper car with cheaper insurance. 9500 CAR LOAN GONE. This frees up an extra 500 a month.

Month 4: Pay off credit card1 2000 (0$ balance now)
pay 1500 on credit card2 (1500$ balanace now)

Month 5: Pay off Credit Card2 1500 (0$ Balanace)
Pay 2000 on Misc Debt

And basically the rest is history after that.

Would like to know what anyone thinks of this.

Thanks.

Posted: Mon Nov 13, 2006 2:03 pm Subject:

Have you taken the interests on these debts into calculation? Because the debt will add on with interests and other charges every month.

You may discuss your plan with your creditors. They may offer you some benefits and you can propose a settlement also. Go through this DIY link for help

http://www.debtconsolidationcare.com/diy/

Congrats for the new job! Things will improve for you in the future. Stay positive. Smile

Posted: Mon Nov 13, 2006 3:28 pm Subject:

Nice job!! Looks like things will be working out for you.

Posted: Mon Nov 13, 2006 3:31 pm Subject:

You have a great plan! Good Luck! Very Happy

Posted: Mon Nov 13, 2006 3:58 pm Subject:

I wish I could find a second job that doesn't require me to work in a store during the holidays. But at least you will have an additional income (although you will also have a lack of sleep). But good luck to you and I hope that everything works out well for you.

Posted: Mon Nov 13, 2006 4:01 pm Subject:

Good luck, Tyler. You and your gf will make this happen Smile

Posted: Mon Nov 13, 2006 4:02 pm Subject:

Wow, it sounds like you have a strong plan of attack. Good luck Smile

Guest · Posted: Mon Nov 13, 2006 4:47 pm Subject:

I wish you all the best Tyler. It looks like you have a good plan in the works.

Posted: Mon Nov 13, 2006 4:50 pm Subject: journey begins

Tyler Excellent plan. I wish you the best. I know you and girlfriend can do it. Best Wishes KYSIDE38 Very Happy

Posted: Mon Nov 13, 2006 5:01 pm Subject:

Tyler, it sounds like you've worked out all the details, and it also sounds like you and your girlfriend have a lot of stamina. That's why I know you'll succeed! The best of luck to you. Let us know how it goes. We're rooting for you!

Posted: Mon Nov 13, 2006 5:40 pm Subject:

I did a similar thing last spring...For about 3 months I lived on basically nothing to get things paid off...It's tough, but worth it in the end if you can stomach it...Good luck!

Posted: Mon Nov 13, 2006 7:26 pm Subject:

Tyler,
This sounds great--but bear in mind that you will be facing serious sleep deprevation. Speaking as one who's been down that road, I want you to take care--and you better check in with us and let us know how you're doing! With that said, go get 'em!!

Posted: Mon Nov 13, 2006 7:26 pm Subject:

Tyler:

If you can make it work, you will definitely be deserving of a vacation after your 5 months of hard work!! I hope you will consider cutting back at that time; for your health. Very Happy

Tyler19 · Posted: Wed Nov 15, 2006 7:25 pm Subject:

I think I need to reduce my hours during the day. Everything will run more smoothly I believe. I will talk to my manager tommrrow. If she doesnt agree, then I will have to find a new job to work better with the overnight schedule.

Posted: Wed Nov 15, 2006 7:31 pm Subject:

You might want to step back and take a look at it. Hopefully, your boss will work it out with you, but if not, take a look at how long you've been in the company, what you're making and whether you have benefits. Since this is a temporary situation for you, maybe your first company could cough up some OT, if that would help.
If you've been with them for a long time, I'd hate to see you leave for something that's a temporary issue, since I know how hard it is to get a decent job. Good luck!

Tyler19 · Posted: Thu Nov 16, 2006 5:18 am Subject:

The job I would be leaving I have only been there a week. it was only supposed to be from 2-7. But they want me from 11-7 mon - friday. That leaves me with only 4 hours of sleep a day for the last week.
I do get overtime at my overnight job. about 5-10 hours of OT per week. I just need to find a part time job thats 2-8or9 and that would be perfect. The gf is swtiching up jobs to a company that is in walking distance to our apartment.
This will change things. Goal number one is to get rid of the car since we dont need it anymore. That will help the most. 600$ extra dollars per month without even working another job. Si I think things will start moving fast pretty soon. Smile

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