Archives for July 2012

I Don’t Make Enough Money To Pay My Bills

I Don’t Make Enough Money To Pay My Bills

I don't make enough money each month to pay all of my bills. "Then who are you to give us peeps on the internetz financial advice if you can't even pay your own bills?" Good question. Let me rewind a bit and talk a little about how we got here. Settings Goals Ever since my wife was a little girl, when asked what she wanted to be when she grew up, she would always say "I want to be a mom!" She had an AMAZING role model growing up in her mom, so it's no wonder she dreamt of becoming a great mother like her mom was, and to take on the noble task of raising our children. We were both in … [Read more...]

Buying a Home (Part 2)

Buying a Home (Part 2)

This is Part 2 of our story of buying a home. If you haven't already, hop on over to Part 1 to get caught up, and then delve into this nail-biter of a story that many have called "the best thing since the Sham-Wow!" (fake quote).   When we put in our first offer, we were advised by one of Mrs. iHB's co-workers to write a personal letter to submit with the offer...you know...butter 'em up a bit (see attached pic). We offered $20k less than asking price in our initial offer as well as the seller to pay closing costs, based on some comparables, and honestly just hoping for a sweet … [Read more...]

Buying A Home (Part 1)

Buying A Home (Part 1)

In a galaxy far, far away, there lived a frugal couple who yearned for home ownership. Mostly, they were sick of apartment life and wanted to paint their walls any other color besides "rental white" (which is a sort of dirty white that never looks clean). They were on a debt-killing rampage, annihilating any Federal Student Loan that lie in their path, but their priorities changed. They started dreaming of the day that they would own a home that they could call their own. When Did It Start? In early February, 2010, while we were out and about, we stumbled upon an open house and went in. … [Read more...]

Why We Have a Credit Card (and Why Maybe We Shouldn’t Use It)

We've all heard that credit cards can get you in trouble. When you use them, you have a risk of spending money that you don't have, and getting yourself into serious debt. Heck, that's probably how most personal finance bloggers have gotten started. They rack up serious debt, get a swift kick in the rear from reality, pay down their mountain of debt and start a blog. That's pretty much my story. But I never really racked up much CC debt, mostly it was a personal loan and student loans. I paid interest ONCE on my credit card, and never again. I HATED the feeling of someone siphoning my cash out … [Read more...]

Our Debt Payoff Story

For those of you who have been here for a while (by a while, I mean, you've at least read 1/2 of my About page), then you know I'm into budgets. I'm also a big advocate of getting yourself out of debt. To me, debt is just a big hole that people can dig themselves into, whether it's by credit cards, student loans or buying a new car. And while you're in that hole, you can't really go anywhere worthwhile. Sure, you can save a ton of cash up or invest your money, but that's like taking a vacation on the south end of your giant hole. It may be a nicer view, but you're not really going anywhere. I … [Read more...]

Budget Confessions (and action)

They say "confession" is good for the soul. And though I would tend to agree with this sentiment, just stopping at confession is kind of worthless. It's like saying sorry, but not changing your actions in any way and commiting the same offense day after day. So I would submit that confessions should be followed by action to change your ways. So I want to make this post an open forum to confess your budget shortcomings, and be willing to talk about actions you can take to change your mistakes. You action can even be to increase your budget if it's an area of overspending constantly. I'll … [Read more...]

How to Save Money: By Budgeting in Spending Cash

  I hope I haven't overstated the fact that budgets are awesome tools to help you get your money on track. And they are not as restrictive as people think they are. On the contrary, I've had much more freedom with my spending since I have been on a budget, and have still saved more money than I did when I was not on a budget. This is why I say all the time that you can SPEND MORE and SAVE MORE AT THE SAME TIME! How Does Spending = Saving? When you first get on a budget, most people are gung-ho about finally saving towards their goals. But there is also a fear that their days … [Read more...]

Budget Fridays: Submission 1

It's finally here. My first Budget Friday submission. For anyone wondering what this is all about, you can check out my original post and call to action here. Well, let's get right to it!   Budget Background and Goals They have been going through the Budgeting Basics Series here on iHB, and tracked their income and expenses for the month of June. I asked a few questions about their financial situation and what their goals were, and here's what I know:   Credit Card Debt (Balances): Chase - $287.00 BOA - $1,566.00 JC Penney - $468.00 Paypal - … [Read more...]