Comments on: What Am I Fighting For? http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/ Personal Finance and Wealth by the Penny Wed, 20 Aug 2008 13:44:52 +0000 http://wordpress.org/?v=2.6.1 By: RaeLynn http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-12713 RaeLynn Sat, 02 Feb 2008 20:34:23 +0000 http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-12713 I to was in the situation that most of you are in with debt. After working for Corporate America most of my 42 years and discovering that no matter how many hours I worked, no matter the promotions that I received, I still was not seeing the light at the end of the debt free tunnel. Until, June 2004! My son was hurt very seriously which required me to take off work 3 months to care for him. My District Manager told me that was no problem, take all the time you need! You see, I was the only one that did my job in my State, (so you would think I was indespencible, right)? Well, think again. MY DM had a Store Manager call and let me know a week later that I no longer had a job! Being a single mom of two boys this was devastating news, especially considering my oldest sons injuries. I had to act fast and find something that I could do from home while I was caring for my son. I am happy to say that I was blessed with an incredible opportunity which assisted me in creating a consistent residual income for the past 4 years, an income that has given me financial freedom and time freedom, two things I thought I would never see in my lifetime! I now train and support others in being successful in their own business! It is a blessing! If your interested in creating your own financial and time freedom, check out my website or email me. This is not for everyone, only those who are serious about making a difference in their lives, NOW! Make it an abundant and joyful day! RaeLynn I to was in the situation that most of you are in with debt. After working for Corporate America most of my 42 years and discovering that no matter how many hours I worked, no matter the promotions that I received, I still was not seeing the light at the end of the debt free tunnel. Until, June 2004! My son was hurt very seriously which required me to take off work 3 months to care for him. My District Manager told me that was no problem, take all the time you need! You see, I was the only one that did my job in my State, (so you would think I was indespencible, right)? Well, think again. MY DM had a Store Manager call and let me know a week later that I no longer had a job! Being a single mom of two boys this was devastating news, especially considering my oldest sons injuries. I had to act fast and find something that I could do from home while I was caring for my son. I am happy to say that I was blessed with an incredible opportunity which assisted me in creating a consistent residual income for the past 4 years, an income that has given me financial freedom and time freedom, two things I thought I would never see in my lifetime! I now train and support others in being successful in their own business! It is a blessing! If your interested in creating your own financial and time freedom, check out my website or email me. This is not for everyone, only those who are serious about making a difference in their lives, NOW!
Make it an abundant and joyful day!
RaeLynn

]]> By: sally http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11394 sally Sat, 05 Jan 2008 17:50:13 +0000 http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11394 @Alicia: Yep, I'm paying ahead my loans. The set amount I pay per month only covers the minimum payments plus about $30, but any other money I have, like gifts, tax refunds, leftovers at the end of the month, and alternative income, goes towards paying them off. At the same time, I am saving about $500 a month. I have an emergency fund of $2800 right now, my goal is $3000, so I'll be able to start putting some of my savings money into a Roth IRA very soon. I guess part of the reason I feel frustrated about my debt is because I could pay them off a lot faster if I weren't saving for the future so vigilantly. But this way I have a bit of money already saved up by the time I am out of debt. I'm happy that you've been able to find a good job. My degree was in English (though I took Latin in high school and Attic Greek in college, so I sympathize with Ancient languages ^__^), but I took a lot of computer science courses too. That's the field I'm in right now, so my salary is likely to continue to climb. @Brooke and Eden: Thank you for the encouragement! ^__^ @Alicia: Yep, I’m paying ahead my loans. The set amount I pay per month only covers the minimum payments plus about $30, but any other money I have, like gifts, tax refunds, leftovers at the end of the month, and alternative income, goes towards paying them off.

At the same time, I am saving about $500 a month. I have an emergency fund of $2800 right now, my goal is $3000, so I’ll be able to start putting some of my savings money into a Roth IRA very soon. I guess part of the reason I feel frustrated about my debt is because I could pay them off a lot faster if I weren’t saving for the future so vigilantly. But this way I have a bit of money already saved up by the time I am out of debt.

I’m happy that you’ve been able to find a good job. My degree was in English (though I took Latin in high school and Attic Greek in college, so I sympathize with Ancient languages ^__^), but I took a lot of computer science courses too. That’s the field I’m in right now, so my salary is likely to continue to climb.

@Brooke and Eden: Thank you for the encouragement! ^__^

]]> By: alicia http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11389 alicia Sat, 05 Jan 2008 16:45:45 +0000 http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11389 I know how you feel--I just now got my school loans below $45K, and I'm 30. I can't tell from this post whether you're planning to pay ahead on your loans, though in your other post you say you are still saving and investing. I just wanted to encourage you to keep that up. At your age, your absolute best investment is to throw some money toward retirement. Yeah, you've got debts. But you've also got something else that very few PF bloggers have, and that's 40 years til retirement. Take advantage of it! I know that big school loans feel suffocating. When I first graduated, 60% of my take-home went to my minimum payments. But your salary will get higher over the years and that monthly payment won't seem overwhelming. It's taken me a few years to see returns on my investment in my bachelor's degree, but I'm definitely seeing them now. I'm the only one in my family who went to college. I make five times as much as my dad, six times as much as my mom, and eight times as much as my sister. (My degree is in Ancient Languages, but now I'm a web writer.) Knowing that this really was a worthwhile investment makes my monthly loan payment much more palatable. Cheers. I know how you feel–I just now got my school loans below $45K, and I’m 30.

I can’t tell from this post whether you’re planning to pay ahead on your loans, though in your other post you say you are still saving and investing. I just wanted to encourage you to keep that up. At your age, your absolute best investment is to throw some money toward retirement. Yeah, you’ve got debts. But you’ve also got something else that very few PF bloggers have, and that’s 40 years til retirement. Take advantage of it!

I know that big school loans feel suffocating. When I first graduated, 60% of my take-home went to my minimum payments. But your salary will get higher over the years and that monthly payment won’t seem overwhelming.

It’s taken me a few years to see returns on my investment in my bachelor’s degree, but I’m definitely seeing them now. I’m the only one in my family who went to college. I make five times as much as my dad, six times as much as my mom, and eight times as much as my sister. (My degree is in Ancient Languages, but now I’m a web writer.)

Knowing that this really was a worthwhile investment makes my monthly loan payment much more palatable.

Cheers.

]]> By: Eden http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11377 Eden Sat, 05 Jan 2008 13:52:39 +0000 http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11377 It's rough. I can relate. I figure I have in the range of 10-12 years to be debt free, but I am most bothered by my credit card debt which should be paid off this year. Just try to focus on the small victories and don't spend too much time looking at the big numbers. It’s rough. I can relate. I figure I have in the range of 10-12 years to be debt free, but I am most bothered by my credit card debt which should be paid off this year. Just try to focus on the small victories and don’t spend too much time looking at the big numbers.

]]> By: Brooke http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11372 Brooke Sat, 05 Jan 2008 12:19:57 +0000 http://www.penny-saved.com/2008/01/04/what-am-i-fighting-for/#comment-11372 Don't get demoralized! I hope you get there before you know it! Don’t get demoralized! I hope you get there before you know it!

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