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Things I'd Change, Things I Wouldn't

January 30th, 2011 at 04:20 pm

What I'd Change
1. I'd have a bit tighter rein over my spending. I'm not cutting back as much as I should given my part-time employed circumstance. There are a few expenses I regret, but most of them I don't...for many of them, I feel like I've been making investments in my future (spending about $500 on CPE units, spending about $200 on nutritional supplements and $100 on exercise equipment/gym fees/videotapes).

So I'm already on to
What I Would NOT Change
1. Money and time spent on my beloved Henry, even though the cancer beat us in the end.
2. Money spent on CPA review classes....got me through all the exams the first time around and saved on future exam fees (I think it's about 20% who pass all four on the first try)
3. For the most part, money and time spent on my health, though there are months I paid for the gym and didn't go.

What I'll Change in the Future
1. More focus on debt reduction. The past 18 months or so have been hard. I've been unemployed or part-time employed; my long-term relationship broke up; I lost my beloved dog to cancer; my mother is seriously ill and spent five months in a nursing home and while she's home and stable now, she does have a terminal illness; and my best friend's grandson has been dying of cancer...the last month we knew it was getting close to the end and I spent almost every evening with her so she wouldn't have to be alone with her thoughts; he finally passed last Monday. Because of all the hardship, I've fallen into debt whereas before I had none and needless to say, I haven't saved anything either. I need to focus on getting out of that debt...the credit card debt will be gone this year one way or another although some of that may be by transferring the debt to five-year loans I can take out at a low rate by borrowing against my retirement savings. Better five years at 5% that can be paid off early without penalty than 10% or more on credit cards.
2. I'm praying that my mom stays stable this year, both because I love her and want her around and because I really need to focus on completing my CPA license and getting a salaried job. It actually gave me leeway to be with her that I was only employed part-time last year. This year I really need to finish the license requirements (which means finding an auditing job after tax season) and find a salaried job one way or the other....so far I've only applied to CPA firm jobs and haven't tried for corporate jobs.

2 Responses to “Things I'd Change, Things I Wouldn't”

  1. patientsaver Says:

    Hang in there, you will get there, because you're very focused and disciplined (like me). Yes, there was a silver lining in your employment situation because it allowed you that extra time spent with your mother, and that is irreplaceable, unlike income that can be made up for later. I don't remember, but did you ever try negotiating the CC balance down with the lenders? If you could convince them you're close to being tapped out, they might be willing to cancel some of it if you offered one final (albeit, reduced) lump sum payment.

  2. Dido Says:

    Yes, there definitely *was* a silver lining, and No, I never thought about negotiating the balance down. I thought that was for people who miss paying their bills and are at risk of default. So far my credit score is still shiny clean (803) and as long as my income remains where it is and there are no further costly emergencies, I'm far from default.

    Do you know what debt forgiveness does to your credit score? (I know that it is taxable, a nasty surprise to many recipients).

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