Thursday, August 30, 2018

Thursday, Frozen, scared and blessed

     I completed my 15th chart and I am onto my 16th.  So I am pretty proud of that as I wanted to complete another before the end of the month.

     As the little were here yesterday I did not get much done in the shop.  I did do hand work last night for a while.

     I am going to clean up a few messes around here and maybe myself before I start sewing today.

     The dog chewed up an envelope with junk mail in it and it is all over .

     The family room needs love.

     I read on a post about clutter something I really love and is helping me with my clutter, messy, sloppy gene.  (It is a gene)

What is clutter?  "Anything that is not in its rightful place."  Isn't that a great way to look at this problem?  So the empty coke can, the 2 spools of thread (taken from dog), canister of sewing clips (taken from a little) the note pad, and the stake of mail and receipts, don't belong on the desk, those things are clutter.  This makes it much easier for my OCD brain to process and not get overwhelmed.

     Sissie made the best chicken pie I have ever eaten yesterday.  She is an incredible cook.  I can never get it as perfect as hers.

     Frozen:

1. I have enough money to pay off everything I owed except the new car which is at 0 % and the house which is at 3.33%.

2. I plan on paying off a debt of just under $9,000.00 and then leaving the last debt of about $5,000 to pay off slowly.

3.  I plan on paying extra to the house off at least $1000.00 a month starting in September.

4.  As the car is at 0% and we put down a large down payment it will always be above water.

5.  This will leave me $15,000.00 of my inheritance.

Scared:

1.  Part of me says just keep paying the two remaining debts and don't touch mom's money.  IT is the only legacy you will ever get.  Use this for something special like a down payment on a piece of land.

2.  If you use your inheritance  to pay everything off  then you can replace the money after you have the house and car paid off. Or you could put a significant amount back into the account every month.

3.  Then I become very scared as I have been so bad with money in the past, I think I will never get to the point of paying it back.  I will just become stupid me and spend money foolishly.

4.  But then I think to myself, "will you ever be able to spend money foolishly again?"  "Are you not over your stupidity?"  Does an alcoholic, never crave alcohol again?

5.  If I pay everything off I will have $10,000.00 in my inheritance account.

6.  I vacillate between frozen and scared and I don't know what to do.

Blessed:

1.  I realize how blessed I am for this moment in my life.

2.  I still have $5,500.00 coming from the studio sale

3.  I have renters for another month and the potential of always having at least one renter.

4.  I have a business that does very well

So here I sit Frozen much or the time, Scared most of the time, blessed all of the time.

What would you do?

Have a great and productive day staying positive while you are in the negative.

Kim

37 comments:

  1. We got out of debt by following Dave Ramsey. It took years and was hard work, but it was so worth it. We only have our mortgage left. We are currently paying cash for our son to go to college. No student loans for him.

    I would pay as much off as you could. If you don't like having no debt, you could always take out another loan. Take a while to think about it. Your mom just recently passed and you are hurting. Don't make any quick decisions. The money will be there next month. It doesn't have to be decided today.

    ReplyDelete
    Replies
    1. What she said. Take your time to make this decision.

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    2. I agree too. Allow your time to grieve, then plan.

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    3. Thanks guys, I have thought about this for a couple of months, I am just still in a quandary but it is becoming clearer.

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  2. Dear Kim, I have just been catching up on the last few posts. Oh goodness me, thank goodness for your lovely sisters. I would pay the debt and rebuild as you walk talk debt free but everyone has to do their own thing. Sending love

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    Replies
    1. I think that is what I am going to do. Just keep waiting for a go switch.

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  3. I used the money from both my parents to pay down debt. I do sometimes worry if i should have added it to retirement savings but I decided if we lose our jobs having a lower mortgage would be more important. I can certainly understand the feeling and I agree - there is no rush to make a decision.

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    Replies
    1. Our mortgage is so low right now but the payment is high.

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  4. Kim, I've been a reader for years...years!! (back when you owned the studio and cleaned the bank and did stuff for the high school...a long time!). You have done so well getting a handle on your debt but I still think it stresses you out. If it were me, I'd pay all of it off except, like you said, the car and house. You will rest easier at night. I've been debt free (includes no mortgage) since 2006 and I've always been grateful I made that choice. It is an incredible feeling to not owe anyone.

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    Replies
    1. Amy I think you are right ad why would you read me? I am just curious. It is such a mixed up messy life journal......boring blah.

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  5. I would pay off the debt and take the extra money and put it back in savings, as you can.

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    Replies
    1. As a long time blog friend advice duly noted. I want your house.

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  6. Just paid two debts off yesterday. Paying one more tomorrow. I would pay the debt and stick to your frugal lifestyle. :)

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  7. I put my "Mom money" in a savings account. I sprinkled it over special occasions for a few years (didn't need/want another property). I've enjoyed the sprinkling of it mostly to treat nieces/nephews to "Grandma money" spoilage.

    I understand that it is not easy to decide what to do with inheritance. You could write a list of options and 3 benefits and 3 reasons not to.....take your time and ponder once you finish your list of options.

    Best of luck in your decision making matrix.

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  8. I would pay off the mortgage. No matter what happens, the mortgage remains if you put the money elsewhere. Paying off my house and car in the same month released a great burden. But, you may not feel as I do.


    Years ago, I was the person at work who was broke 2 days after payday because co-workers held back a bit for fun during the week. I only wanted bills paid. So, no matter how much I wanted to go out for lunch or shopping, I was left behind. And, I was the only one making a mortgage and utility payment all on my on. I have gone without food to pay bills.
    Right now, if I were in your shoes, I would want that debt gone and the money inaccessible to me.

    ReplyDelete
    Replies
    1. IF I pay off the debt now I think I can have the house paid off next year.

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  9. I have been reading for years but don't think I have ever commented before...

    Sit on the inheritance for a month or two. Just because you have the money doesn't mean you have to spend it. Pray on it. What would your mother counsel you on? Would she want you to be mostly debt free? Or would she want to be able to help you realize your dream of a piece of land?

    My mom passed away when I was 25 and left me with a sizable inheritance. (Okay, maybe not sizable to everyone, but definitely more than any 25 year has any business having.) I know we are in completely different places in life and our mother's were also, but I have kept the inheritance mostly in tact. My mom didn't get to spend her "old woman" money so I want to make sure I am a good steward of it. But, I would definitely spend it if it allowed me to follow my dream or pursue a passion.

    If you are worried about your mom's legacy (and this is only to think about, I am not trying to sway your decision) imagine buying a piece of property with her money. It would almost be like she was right there with you (I mean, more than she normally is in your heart.) It is something you can pass to your children/grandchildren. It can be it's own legacy.

    I won't go into the merits of paying off debt-so many others have and they make great arguments! But how wonderful that you are in a place with so many options! You don't need to make a decision right away.

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    Replies
    1. Thank you for your input. I am sorry you lost your mom so young that must have been hard. Why do you read this blog?

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  10. Two years ago this month one of my 4 older brothers died unexpectedly. About 6 weeks later I learned he had left me 1/4 of his estate. I received that money in July of this year. Since I had 22 months to think about it I had decided to invest the money into being debt free. I still have a third of the money in the bank and am able to add about 1k to it each month since I am debt free. My brother wanted to bless me and he did and I can picture him in heaven smiling that I made a good decision with his gift.

    You have lost your mother only a brief time ago, so I would say that you don't have to make a decision right away! Dave Ramsey asks people if the person who blessed them would be smiling at their decision. What would your mother think?

    Take your time and honor the gift and the giver.

    Hugs to you --

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    Replies
    1. My mother would be thrilled if I was debt free and Happy I think.

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  11. So many good replies already. Personally, I'd be debt free in split second. Your mom knew how much you struggled, and I like to think she'd be happy to see you relieved of that burden. As for your house, you provided her with a home for many years, and by paying off your mortgage, she is helping do the very same thing for you. Another (and more important thing) is to pray about it. Let God be your guide.

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    Replies
    1. I am feeling better and better about my decision to pay off my debt , then concentrate on the house.

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  12. For me, I would pay off my debt. Like Dave Ramsey says. Your biggest wealth building tool is your income. If you don't have debt, you will have more income to pay off your mortgage. And I agree with A Dime... pray about it.

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  13. PAY OFF DEBT! The greatest legacy is FREEDOM!
    Hugs to you dearie!
    Laura Lane
    Harvest Lane Cottage

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  14. The financial gurus always say in cases like this to park the money in a short term CD or something similar and let it sit for a while until you have a plan. It's usually a mistake to act impulsively.

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  15. I think I would pay off debt and then work hard to replace the money every month. It's your decision and I'm sure you will make the best one for you.

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