Posted by: theprovidentwoman | July 26, 2009

Getting By In These Economic Times

Like many others we have been struggling through these icky economic times. Let me start off by sharing with you how our predicament started.

1.  We bought a house. WOOO HOOO! Home sweet home!!! (Good investment, but we were then paying more than 3 times what our previous rent was. Oh! And did I mention the 20 acres we were simultaneously paying for – long story…)

A view of our 20 acres

2.  Moving into the house the week of Christmas, Clint slipped carrying in a wooden file cabinet drawer full of stuff and crushed a finger. (Medical bills started flying)

3.  We had our beautiful baby boy in March (prematurely causing more medical bills to fly. Especially since our deductible started over the first of the year).

4.  I quit teaching. (Couldn’t afford daycare with three kids and driving 30 miles away to teach)

5.  I got meningitis right after starting new insurance through Clint’s work (you guessed it, new deductible.)

6.  Our beautiful boy was in for a short stay in the hospital Thanksgiving weekend.

So with all of these medical bills flying and being demanded to be paid in a timely fashion we were screwed (for lack of a better term). So we took steps to fix our problem without losing our home, our land, our cars, and anything else we are to selfish to sell or lose.

1.  After doing our tax return and seeing that we paid over $11,000 in one year in medical expenses I called the hospital, who was demanding hundreds of dollars a month, and asked if there was anything that could be done. I just couldn’t afford to pay so much. I sent them over my tax return, a copy of our check stubs and a copy of ALL of our monthly bills. A few days later I called them to see if they got it. They knew right away who I was and they referred to me as the “really thick envelope”. They said they would look at my papers and call me right back. Within an hour I get a call and they inform me that my hospital bills will be no more. So from owing them something like $10,000 We now owed them $0. I was so happy, I cried.

2.  With our tax return we paid off our car and a bank loan from school (2 debts down).

3.  We finished consolidating all of our student loans. Now, instead of 6 payments we have 2.

4.  We consolidated our debt (credit cards and medical bills). I know this is a scary concept, but now we are paying a set amount each month and the debts are guaranteed to be gone in 2-5 years.

5.  We cut up ALL credit cards. This is also a very scary concept, there is now no fall back. If we don’t have the money, too bad, we don’t buy it.

6.  I got an evening job. Yes, it stinks, but it gets me out of the house. It might be work, but I actually get me time and we all get free movies. You guest it. I work at the movie theatre. So now date night is free (except for the popcorn).

We even got more serious about selling our honey and honey products. I started making pies to sell with the honey at the Farmer’s Market. Slowly but surely we will get out from our debt and not want to cry every time we pay bills. And if we can do it anyone can. But hopefully you’re not in the same boat. Debt bad, savings good.

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Responses

  1. Very impressive!!!


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