Tuesday, June 19, 2012

Breaking point …

Financially, I think I’ve pretty much reach the breaking point.

I really do not know what else to do. We do not allow a lot of luxury in our lives. I really hate to cut back on the few that we’ve allowed ourselves to have. It is not like they are extravagant luxuries. Otherwise, what is the point of it all? Why put up with the paycheck to paycheck struggle?
Just when it seems that we might be able to coast or just a little bit behind. Something bi g happens financially (such as car or household repairs) that just sets us back too far. We can’t seem to gather enough steam to even have a small savings. Because of this, I know that it is just a vicious cycle that we live in… without a savings, these “unexpected” things occur and we can’t cover it.

We are not able to refinance our home for our credit is not good enough. Yet, our credit is not good enough because our failure to keep paying our mortgage bills on time. We are not able to receive help from our mortgage company because we are only in somewhat bad shape and not completely utterly bad shape.
Luckily, we’ve signed up for credit help a couple of years ago to help eliminate the credit card debt that we amassed. We see the balances going down at a steady rate. However, it is still another couple of years before that is off our shoulders.

I know that we brought a lot of this on ourselves. I am not denying it. We should have made more of an effort to create a bigger nest egg. So when the Hubby was laid off, we had something more to fall back on. We should not have refinanced our mortgage back in the day to decrease our 30 year mortgage to a 25 year mortgage. Lord knows, they won’t let us refinance it back to be 30 years or take advantage of the lower percentage rates now. We should have been more careful with our credit card usage. It all looks stupid now… I know … hindsight is always 20/20.
Just the question I am left now with:

How much longer do we need to struggle?


BakingSuit said...

HUGS sweetie. I wish I could help more. If there's something specific I can do, please let me know. HUGS.

Genny said...

Refinancing your mortgage isn’t a really bad decision. You made that decision when things were different, and it’s merely a product of other factors in your life. There are just some things that are beyond our control, and the success of overcoming these depends on our attitude towards the situation. Ever heard of the ‘boomerang’ effect? Stay positive and things will turn out positive; if you go the opposite, then you’ll get negative outcomes as well.

Genny Stutesman

Sage Leung said...

Many people don’t know that they’re actually doing things that affect their credits. They will only realize it once their credits have already gone bad. Well, your story can serve as a learning lesson to everyone. There’s nothing wrong in refinancing your credits, but life will be easier for you if you maintain a good credit. It wouldn’t be hard for you to get a loan once companies see that your credit is in great shape.