Topic : 01/02 Money Rescue: Extreme $pending

Heide, who gets her high from shopping seems to be on a high horse.   I don't think she really gets it, nor do I think she wants to stop buying her Coach purses and all the other STUFF!  I used to be on the same road with shopping and getting a high but I have found a way to make money and still get the high from shopping.  In reality it is not the stuff that we want because half the times it is never used.  I finally started shopping for the best buys I could get, as if shopping for myself, and then sell them on line.  It works great!  I still get the high from shopping, yet once I sell the item I have made a profit and could care less about the item.  Additionally, if I don't sell the item eventually I then return it and purchase something else.  I have quit buying for myself as I don't want to waste time trying on things.  I may even purchase something in my size, bring it home, and chances are I don't like it as much and there it goes immediately on line for sale.  Lastly, I take $100 out of my profits as much as I can, after paying my credit card bills, and am creating a nice little savings for myself so I can contribute later on for my sons college and/or helping him purchase a car.  Let me tell you I have put the nasty habit of overspending to an advantage so I get the best of both worlds.  Looking at all those purses and shoes in my office mean nothing after a few days.  It is just having it but realizing you really don't want it and instead of it taking up space in my closet I am accumulating a nice little bank account.  I work harder now than I ever did when I was employed.  This was my way of turning a bad and dangerous habit into an advantage to contribute to our family expenses.  Don't get me wrong, I still like nice things but I really appreciate having something now and then  that I really want but "less IS better."  If there is a good sale going on I am running to the store, but not for me ...for my customer base I have built!
Oh, and one last thing, I told my husband to quit buying me things because I don't need them and they will only go up for sale.  He listened and he is now saving from feeling he has to buy me presents. 
This year we plant to clean up all our debts.  Most credit cards are closed so we are forced to pay by cash.  No cash, not goods!  It works!

 When I heard how much this couple spends on things every month I thought, how stupid. My family is in a serious financial situation, but it is not of our doing. I became ill, had 13 surgeries in less then 3 years. One year I was having surgeries everyother month. I am a nuse and my husband is in the DME business. We had been saving and on our way to being debt free when I became sick. College savings for our son was well on its way. What do they say about best laid plans?

                         I developed PTC and was found to have Chiari Malformation. I could not remember the names of people I had known for years, I was at the start of needing to use a walker, headaches constantly and extreme fatique. I tried to get disability, but was denied. Fought it for over 1 year, but our savings were depleted and I went back to work. I was later deemed disabled for 18 months, but it came to late.

                            Thanks to our savings we were able to meet monthly bills, but groceries, clothing, car repairs and emergencies, taxes, insurance had to paid for with credit cards. We wnet from 1 card to 3. We are up to date on all bills, but living from paycheck to paycheck.

                               We are still paying for medical bills that were well over  $26,000. We have those down to $1,500.. I have not had to have surgery in the last 3 years, but had to take a lower paying job(school nurse) because of my health. I make $14,000 less per year, that could pay for one year of college for our son. Many times I think about getting a harder job for more pay, but  having a mom around is more important than having stuff.

                                 We have thought about bankruptcy, but I do feel that is fair to the people who let us pay for things when we were in need. We are however paying 25% on most of our cards. I do not see any light at the end of this tunnel. and can get depressed easily.

                                     I want prople to be aware that even those that save and are responsible with their money can find themselves in need and many times there is no one out there to lend a helping hand.

ha ha ha ha ha ha!!!
I love it!!

Common sense is underrated, isn't it!

My question is how do you help families that have 2 working parents who live paycheck to paycheck and do not spend frivilously?  It is simple to tell these people : "don't buy tha gucci bag, or those $200 shoes".  Obviously, you will save money be doing that.  But what do you tell the people who are already stretching their paychecks: buying store brand, turning thermostats way down, carpooling.  How are we supposed to save for retirement when we don't have 10% to put away?  I would like to see a show on that.

I watched the show and thought WOW they spend all that money and don't even think about it...

I wonder how they'd like to live in my situation. I am a single mom that is disabled and my only income is SSI currently 674 amonth. Not thousands but six hundred and seventy four dollars. I can't afford to live anywhere but on government housing and forget anything special for me or my child. I just cant buy it. That's the simple facts. My heart breaks every time a commercial comes on and my child asks if I can get this or that. It doesn't matter what it is because most of the time I have to say no. I barely get the bills paid. And that's only the basic bills. I have outstanding bills from creditors as well but just cant stretch anymore money to even pay a small amount on them. I need to file bankrupt and cant afford to do that.

Those people who spend so carelessly should realize just how blessed they really are. I'm not in this situation by choice. But they are. They have the means to change how they live. I don't. Yet I feel sorry for them. I am poor in finances, but I have peace within.  They have no clue what that is.  

Reading this board, it becomes very clear that the people with real, no-fault, money problems are the ones with bad health.

Our government needs to get it's priorities straight. Instead of using tax payer's money to bail out greedy companies and to allow people like the big spenders on the show to file bankruptcy -- we should have free medical care for everyone so that people who incur sudden health problems and disabilities aren't financially ruined.

I have so much sympathy for the people here who have disabilities and illnesses. I have no sympathy for the giggling guests on the show who repeatedly indulge themselves with ridiculous things like Coach purses and then, by filing bankruptcy, stick the stores with non-payment. Bankruptcy, like shop-lifting, just raises prices for the rest of us. We are paying for their irresponsiblity!

4 words come to mind

 

1 GA

2 RAGE

3 SA

4 LE

 

2 other words also come to mind

 

1E

2BAY

 

im sure they have a computer under all that junk

I admit that the folks on Dr Phil are the extreme cases.  Yes it is hard to believe that some can get this far without a clue there is a problem.  But maybe the ones that are not that bad yet still in trouble will learn just a little. Many of us can use improvement in this area.  Even though I answered NO to all of Dr Phil trainwreck quiz, last year at this time I had places I could improve. So I invested some of the money that I might have other wise wasted, on myself to learn better ways to do things. I learned the principles that the weathly live by.  This program also offered some tools that made it much easier to learn and track my money. I had a few areas that I was still spending emotionally and needed to learn how to master my money. My priority now is to be debt free in 9 yrs.  Although I have a retirement, I saw how it was not going to be enough.  The big thing for me was being taxes were eating me alive. 

 

It is really easy to critise others but in todays econmony there are a lot of people that either didn't understand a few basic principle's, don't plan or don't even know where their money is going.  Heck many don't even know they are in trouble.  I have heard about so many poeple that didn't set money aside when things were good for the lean times.  Heck even the state of California doesn't understand these basic principle's!  If our top leaders can't get it right how do we expect the average american to master their money.

 

I find it funny how people are willing to spend $1000 on interest for a $200 item they charged but are not willing to invest way less than that to learn how to get out of debt.  I invested thousand to learn a new career and made good money.  But I didn't kow how to keep that money!  Unfortunalety I wasn't so extreme that I had Dr Phil willing to help pay for a personal coach.  So I had to Invest In Myslef!

 

I think one of the coolest things is the program I learned to master my money, is being taught in high schools.  What a great thing to teach our young adults before they get into trouble.    These principle's should be mandatory class in all high schools.

Having  been in the same situation - spending more than I earned - I know what it means to cut up the credit cards and not buy "wants" until the "needs" are met. I was one of those with new items still in the boxes, clothes in the closet with the price tags still hanging on 'em, quantities of things that were bought "on $ale" (since it was stuff I always used). The problem I saw with the solution is, once you've had the item(s) for more than so many days, you can't return it, no matter how many tags are still on it! Most stores have a limit on how many days you can keep something before you can't return it anymore. That sounds like the problem of most "horders" who overspend. I was like that. Actually, I still have a few things that are in the boxes, but not because I couldn't afford 'em when I bought 'em. I just didn't have the room for 'em at the time. Not everyone has room for exercise equipment but it was a good buy and it was cheaper (so I tho't) than a gym membership. I have used most of it now but I still have one big item in the box. Does anyone need a ski machine? LOL Really tho, the suggestions were all good ones but they aren't the solution if it isn't possible.

I'm an 18 year old senior in high school and we have no money for college. My mom has managed to dig us into over $20,000 of debt. I don't qualify for most scholarships, grants, or loans because my dad makes too much money. All the scholarship people see is how much he makes and not how much debt we are in. Unfortunately enough for me, my parents never saved for my education. So now I can't afford to continue my education. Out of 3 children I am the only one to have to maintain a job in high school. When all my siblings were going to college my grandfather paid for them to go. Now that he has passed away, I don't have this opportunity.

It just hit home with me when Dr. Phil talked about how their situation is hurting their son the most. This is the truth! I am in his situation just 10 years later. I thought that I would give a victim's perspective on this.
Thanks.