Payday was today. Right now we have $982.34 in our checking account. After I subtract the bills due by March 1st (943.42) we are left with $38.92. I have to buy formula for my little one (WIC just covers the baby food) which is $17.00- so that brings me down to $21.92
I still owe 3 different bills for February, totalling $655.39. (One is my student loan payment of $206 which comes out of deferment next week. One is $84 for Loan #1 and the last is 3 payments of tithing that I fell behind on totalling $364.23).
I contacted Loan #1 and they are graciously working with me and will wait until my tax return comes back to be paid. I have $230 in an emergency saving account that I will transfer over, I just received a $75 check for some work I did last month and I have $53 in cash I was saving for groceries. Add all that to $38.92 and I have $379.92.
I've decided to make the tithing payment so I am current on my tithes. I will call my student loan and see if I can work something out to pay them 2 weeks late. So after I pay tithing, I will have $15.96 We have plenty of food to last the next 2 weeks, so I shouldn't need to use any of that for groceries.
Our tax information in on the way to our accountant. I am hoping to see the return in our checking account by March 7th. I am really crossing my fingers for a good return so I can be current on all my bills and pay down some of our credit cards!
Guaranteed payday loans are helpful in those situations when the borrower does not have any instant access to finance to meet his various needs.
ReplyDeleteHann,
ReplyDeletePayday loans make me nervous because of the fees and interest. Also the thought of another loan makes me want to cry.
I wouldn't take a payday loan out if it was the last option before bankruptcy. Most of them target people that really can't afford the terms of the loan. I listen to Dave Ramsey. I am in no way am an expert. But if i were in such a tight spot as you seem I would do like Dave says. Pay the essentials first. Food, lights, water, rent. After that I would make a list of essentials and pay them down the line in the order that is most essential. Yeah some things might get a month behind before paying but, I would gladly take that over a payday loan. Eventually when creditors finally get paid off and you free more money up in the month, you will feel so much better.
ReplyDeleteDave has a great baby step program to getting out of debt that I would look into. I will keep your family in my prayers.
Jeff, I really like everything I have heard and read about Dave Ramsey. I am going to be looking into his website a little more. Thank you for your thoughfulness.
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