I don't know how to spend my own money!!!

[FullOfIt]

My eyes just keep being opened to how screwed up my thinking has been......for years!!! We are going on vacation next month and I need a bathing suit. I am actually struggling to buy one with cash/debit card!! This makes me sick! I'm scared of cash!!! I know I will get over it but geesh!!

[tobee43]

i hear you! and a bathing suit yet. shoot they can run from $30-$300. the last bathing suit buying i did was off of ebay. i got some really nice tikini's for really reasonable. only problem is you can't try them on. but i got an eddie bauer one for $10 brand new! i HATE bathing suit shopping anyway what woman loves it LOL!!!

[Drazil65]

Yes, I hear you. After going through everything we have gone through these last few years and having to scrimp and save every penny it is VERY hard just to "spend" without thinking about it ALOT. I use the envelope system, I have several envelopes with labels for things we will need to buy eventually or entertainment etc. I just keep putting cash in the envelopes until I have what I need, for some reason this makes its easier to use the money designated for a single purpose. I think its the visual thing as well as it separates it out from the money (our operating cash) in the bank that we use for everyday things and bills.

Have fun on your well deserved vacation.

[Pizza]

Budgeting takes a lot of hard work. The biggest mistake we have to overcome is how we look at our 'disposable income' after quitting the cards.

"Paycheck - bills = $$$ until the next paycheck" is not the formula for disposable income.

But I'll bet if you took a random sample survey of ordinary people, many would see 'disposable income' as just that. When we get into the (bad) habit of a rainy day fund consisting of the credit cards with the highest available credit, it helps to reinforce that misconception.

[justbroke]

I need to go back to school. Pizza just informed me that I've been using the wrong match for years! Regardless, pizza is correct. Paycheck - expense <> disposable monthly income, as the Trustee in a Chapter 13 would have you believe! Some expenses are periodic and some are unexpected. Unless and until we learn to save, we will be burdened with this endless cycle of the "living paycheck to paycheck" formula.

[BankruptcyB]

In my opinion you should have saved some money a while back since you probably knew you would need that bathing suit. Anyway, now the damage is done, I would advise against buying using any form of credit/loan since it will only get back to you later.

[FullOfIt]

In my opinion you should have saved some money a while back since you probably knew you would need that bathing suit. Anyway, now the damage is done, I would advise against buying using any form of credit/loan since it will only get back to you later.

I am not using credit!! My whole point of this thread was to say that my thinking really is/has to change. We are chapter 13 100% and we are allowed to have savings. I have cash to buy a new suit. I am just thinking out every penny now which makes me hold on to my cash a little tighter. This is good. I am happy we are learning lessons and will continue to learn through this process. We are in a good situation financially and filing Ch13 will finally allow us to get a head!!!

[DaisysMom]

Yes, FullOfIt...you will get over it. And believe me, it's a great feeling to go to bed and get a full nights sleep without laying awake fretting about the debt hanging over your head. I still wake up and fret a little about everyday things, but the massive anxiety-laden weight of all that debt is GONE!! It's been about a year and a half for me and I still get a thrill out of the thought of my new start. And I love shopping with cash.

And BTW, we are still almost living paycheck to paycheck because our income is not much more than our monthly expenses. However, we do have a modest savings that is slowly growing so when the unexpected happens, we will be ready.

So enjoy your new start....you WILL get used to it and it's wonderful!!

DM

[tobee43]

I am not using credit!! My whole point of this thread was to say that my thinking really is/has to change. We are chapter 13 100% and we are allowed to have savings. I have cash to buy a new suit. I am just thinking out every penny now which makes me hold on to my cash a little tighter. This is good. I am happy we are learning lessons and will continue to learn through this process. We are in a good situation financially and filing Ch13 will finally allow us to get a head!!!

i say go get yourself the nicest bathsuit ever!!! i'm certain after going through setting up your 13 you deserve a little something for yourself...we are talking BATHING SUIT here! i, for one certainly wouldn't consider that the biggest luxury one can spurge on, after all what's the alternative to a bathing suit? it's really more a necessity, unless, of course you belong to a nudist colony.

[Pandora]

Dont forget to look for coupons! You can use the online coupons in the store (using your smartphone if you have one).

[sbatman]

No debt=wonderful feeling

House paid off.
Taxes and insurance for house less than $200 a month (a small house, not in the best of neighborhoods, but we have plenty of security and shotgun, if needed.)
Both cars paid off (2010 Honda and 2005 Subaru, so they'll not need replacing for a decade or more)
Car insurance less than $200/month (USAA and Amica)
Taxes and insurance for house about $200/month
We only spend on credit cards what we can pay off each month: no interest.
Fiance, at 56, retired early on two very small small pensions to take care of me and disabled son but more importantly, he has reasonably priced health insurance.
Disability + other small income + Medicare=
happy campers with no financial worries, except we would like to save more money than we have been.

And, do I really need that cute 20th nightgown? I have so much left over from when I was a shopaholic before I lost my job, walked away from the house-foreclosure and filed Chapter 7. We've had to take so much of our older, but very serviceable clothes in bins in our shed, so if we need anything, it's like shopping!
Having no debt is a wonderful feeling. What necessities I put on my CapOne, Navy Fed and JCPenney cards I don't consider debt as they get paid off in full monthly.

If I sound smug, I am a little, but more than that, I am thankful to my God and country for the net that has helped us.

I wrote another post about my disability, lest you label me as one of the 47 percenters.

[dmc-2008]

I would go buy the cheapest cutest one! If you buy the best you will be sorry for spending all that money! That kind of thinking got us here in the first place!