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OnlineHost:
OnlineHost: *** You are in "Town Square - Lobby 153". ***
OnlineHost:
TFSinister: Not married Newt
TFSinister: ?
CNewton369: Unless its eggs - don't do those
CNewton369: No, and you
TFSinister: Why not eggs? Got something against chickens
TFSinister: Single but i have a girlfriend
TFSinister: You?
CNewton369: No just don't know how - anything else piece of cake
OnlineHost:
OnlineHost: *** You are in "News, Sports, and Finance - Personal Finance".
***
OnlineHost:
OnlineHost:
OnlineHost: *** You are in "Town Square - Lobby 189". ***
OnlineHost:
BarbX: hello
BarbX: no one talking ??
CutieJRP: {S Quack}
OnlineHost:
OnlineHost: *** You are in "News, Sports, and Finance - Personal Finance".
***
OnlineHost:
DaLlama180: Hey!
OnlineHost:
OnlineHost: *** You are in "Real Life". ***
OnlineHost:
Lampo: Hi
TBirdNeil: where are you?
Lampo: I are in Nashville, TN
TBirdNeil: I figured that out. Are you logging?
Lampo: Yeah.
RIVERATb: Is anyone here?
Lampo: Hello RIVERATb
Lampo: Hello SteveSgl
TBirdNeil: Welcome RIVERATb
SteveSgl: good evening
TBirdNeil: Welcome SteveSgl
Lampo: So what are we going to talk about this evening?
SteveSgl: thanks!!
RIVERATb: Wow I guess so, thanks!
TBirdNeil: Can we answer any questrions?
TBirdNeil: Getting out of Credit card DEBT!@
DEVILHSDUE: anyone follow xerox?
Lampo: On the Dow?
RIVERATb: Yes, we were forced into Chap13 4 years ago
DEVILHSDUE: ny
TBirdNeil: How is it going now?
TBirdNeil: 4 years later?
RIVERATb: Good, but how can we buy a house?
TBirdNeil: What have you tried to do housewise?
Lampo: I would suggest a non-qualifying loan.
RIVERATb: We are in a lease-purchase now
Lampo: What are the terms?
TBirdNeil: Are you happy with that house?
RIVERATb: We are supposed to close next Aug.
Lampo: Hi JCioffi850!
RIVERATb: Yes, we love the house
TBirdNeil: Welcome John
JCioffi850: Hi guys!
TBirdNeil: Aug 96 or 97?
Lampo: But... what are the terms? Are they reasonable?
RIVERATb: 97
DPatter711: Hello all!
TBirdNeil: Welcome DPATTER711
Lampo: Hello DPatter711
Lampo: Hello RLMadDog
RIVERATb: Yes, they are putting 300 out of 1000 toward purchase
TBirdNeil: Welcome RLMadDog
RLMadDog: Hi all...Will be here for as long as I can. Expecting an important
call
Lampo: You mean 300 out of every 1000 goes toward the purchase?
RIVERATb: Yes
DPatter711: I have a question.
Lampo: What does the other 700 go towards? Rent?
RIVERATb: yes
TBirdNeil: Mad Dog any suggestions? Ch 13 4 years ago and want to buy a
house.
Lampo: DPatter711 - What's the question?
TBirdNeil: Yes DPatter711
RLMadDog: TBird...as long as the discharge is over 2 years old it's ok
DPatter711: I am 21000 in credit card debt, I own my own house but I have
little equity
TBirdNeil: ANy problem qualifying?
Lampo: RIVERATb - You need to look into a non-qualifying loan.
Lampo: DPatter711- CUT THOSE CREDIT CARDS!!!
DPatter711: I have been offered a debt reduction/title one loan
TBirdNeil: OK DPatter. How is that $21000 distributed?
RIVERATb: Where do I find a non-qualifying loan?
RLMadDog: The 2 year rule is pretty standard. Of course there is lalways the
elitist banker that
DPatter711: I have not used the cards for several months, but the bills keep
adding up
RLMadDog: will turn them down
TBirdNeil: Mortgage brokewrs
Lampo: River - Check with a real estate agent. They want a commission,
they'll find a loan.
RIVERATb: Any in particular?
RLMadDog: yes,, te broers are the best because they deal with many bankks
DPatter711: Is a secured loan a smart thing to do?
TBirdNeil: DPatter711 are you still using the cards?
RLMadDog: DPatter it's a start to build credit
DPatter711: TBirdNeil - no
Lampo: DPatter - What will you offer as security?
Lampo: River - Are there any agents you feel comfortable with or know
reputation wise?
DPatter711: the loan offers 125% equity
RIVERATb: What is a te broers?
TBirdNeil: Are you really solving the problem OR putting on a band-aid?
RLMadDog: River...sorry bad spelling. MortgAge brokers
Lampo: Good question T!
RIVERATb: Lampo- No
TBirdNeil: DPatter711 are you there?
DPatter711: My wife and I have closed all but one major card
DPatter711: but most of the department store cards are open, but we don't use
them
TBirdNeil: OK are you paying more than min payments?
PooDog1: Where can i get info. on a few mutual funds I particpate in?
DPatter711: barely
RLMadDog: Poodog...this is a cforum on credit
Lampo: River - If you don't know any agents, check several out before
committing to one.
TBirdNeil: Have you "TRACKED" your spending paterns?
PooDog1: sorry bye!
Lampo: DPatter - If you take out a secured loan, you risk losing everything
you don't own yet.
TBirdNeil: Check for financial leaks?
DPatter711: Our total monthly expenses (house, car, etc) are about 2500, we
make about 2600
Lampo: DPatter - Can you sell the car?
TBirdNeil: How about those little tiny expense?
DPatter711: no - we both work in different areas
Lampo: DPatter - Yes. But can you sell it and buy cheaper?
TBirdNeil: expenses e.g. coffee, cokes, etc etc
RIVERATb: Lampo-Which is better, Agent or Broker?
DPatter711: I couldn't sell it for what I still owe on it
JCioffi850: What is DPatter's goal? Offload debt...Equity loan?
DPatter711: We spend about $50/wk on groceries
TBirdNeil: My suggestion is to track your expenses for the next 21 days.
Log/track every expenditure in
MIKIT10: DPATTER711 HAVE YOU CK ON AN AUCTION
DPatter711: My goal is to have a liveable budget with some savings
Lampo: That depends on the people who own the house. Have they listed with
anyone?
RIVERATb: No, they are selling it themselves
TBirdNeil: a blank checkbook log. Both spouses have to do this for max
effectivenesss
JCioffi850: Follow TBird's advice.To know where you are going ...you need to
to know where you have been
RLMadDog: River...In that case you need a mortgage broker'
Lampo: RIVERAT - The arrangement you have now is upside down. It's like
paying 1000% interest.
DPatter711: I have the last two years of expenses (every penney) in a quicken
file
RIVERATb: I'm confused
TBirdNeil: 90% of us have received no formal personal finace education.
Madison takes advantage of this
DPatter711: My attraction to the loan is its deductability, it will add about
1000 to my refund
RLMadDog: TBird...True...I
Lampo: Riverat: An agent gets commission from the total sale price of a home
RLMadDog: 'm in avor of a credit course in hi school
TBirdNeil: Well then can you work more hours and earmark those earnings
toward paying off debt?
DPatter711: RLMadDog - I'm a teacher, our school offers one
Lampo: RLMadDog - Amen and Hallelujah!
RLMadDog: DPatter...that's great.
RIVERATb: You know I agree!
DPatter711: I'm contracted and salaried, no overtime pay
Lampo: DPatter - Government and Economics or Real Life Personal Finance?
TBirdNeil: Have you enrolled? What did you learn?
RIVERATb: I hate to be dense, but how does that apply?
DPatter711: Life management skills, everything from how to shop wisely to
credit to stocks
TBirdNeil: We are discussing "getting out of DEBT" tonight. Your hosts are
Lampo and TBirdNeil
Lampo: River - You're not being dense. Agents don't work as closely with the
banks as brokers do.
DPatter711: I can't enroll in a high school class as a teacher, but I have
reviewed the text
Lampo: River - They get their money from the other side of the coin.
Lampo: Lampo - An agent will be looking out for the interests of the seller.
RIVERATb: So, where is the 1000% interest?
Lampo: River - Every $1000 - only $300 goes toward principal?
TBirdNeil: River-call the card issuers and see if they will offer you a
interest rate reduction.
DPatter711: I currently pay 570/mo. on my consumer debt, the loan will take
that to 300, but if continue
JCioffi850: Can we re-focus? What have we advised DPatter to do?
RIVERATb: $300 towards downpayment
TBirdNeil: Thanks JCioffi850
DPatter711: to pay 570 the length of the loan will be cut by 65%
RLMadDog: JC...Good idea
Lampo: River - I'm sorry. I thought you meant through the life of the
agreement.
TBirdNeil: DPatter-will you be tempted to use the cards that got you in
trouble once they are paid off?
RIVERATb: The agreement was only for 2 years then we close
TBirdNeil: And end up twice as bad as you started?
DPatter711: Not again, I took a loan once to pay off the debt I acquired in
college
Lampo: DPatter - Have you not cut those cards up yet? Get some plastic
surgery guy!
DPatter711: and here I am again
Lampo: DPatter - Did I understand you're keeping one card for emergencies?
JCioffi850: Account for every penny/cut the cards, close the accounts...cut
every stinking expense!
DPatter711: My wife has never had a debt problem until she married me,
RLMadDog: Bye all...Just got the call
Lampo: River - Where'd you go?
TBirdNeil: DPAtter-there is definetly a pattern developing here...
DPatter711: Lampo - yes
JCioffi850: Rinse , lather, repeat!
RIVERATb: I'm here look up a couple of lines
Lampo: Start an emergency fund instead. Pay cash for life's little mishaps.
DPatter711: The last loan was for 3000 and I paid it off in 16 mo.
TBirdNeil: Let me suggest you re-prioritize your life.
Lampo: River - What are the closing terms?
DPatter711: Most of my current debt is from our honeymoon and to furnish our
house
Lampo: DPatter - And, do you really use that card only for emergencies?
DPatter711: and of course computer components
RIVERATb: We have to secure the loan for 95,000
TBirdNeil: With all do respect sounds like you have expensive tastes!
Lampo: DPatter - Or does "too much month at the end of the money" qualify as
emergency status!
DPatter711: Lampo - yes
JCioffi850: most people do!
DPatter711: Lampo - it has in the past, but we are working hard not too
TBirdNeil: Welcome WAnder9523
Lampo: River - If you can't secure the loan at the end of two years, do you
get any $ back?
TBirdNeil: Welcome MIKIT10
TBirdNeil: Welcome DIFF PARTS
DPatter711: my wife works 60 hrs./wk and I coach tennis in my spare time for
extra money
RIVERATb: It's negotiable
TBirdNeil: Welcome JP1853
JCioffi850: creditors sell you on those "Easy monthly payments" :)
Lampo: DPatter -
WAnder9523: Thanks TBird
Lampo: DPatter - Do you have a WRITTEN plan to get out of debt?
TBirdNeil: Any questions we can answer re: debt or credit card debt?
JP1853: evening all
DPatter711: JC - that and the "low" intrest rates
DPatter711: Lampo - yes
Lampo: DP - Are you sticking to it?
Lampo: D - Do you have all your money spent on paper before the month begins?
DPatter711: I just want to get some opinions on taking out a loan on my
house, pros & cons
Lampo: River - Where are you?
DPatter711: Lampo - yes I keep it in my Franklin planner
Lampo: D - What????
TBirdNeil: Take the loan but watch your spending so you don't get in trouble
again!
RIVERATb: Still here, just up a few lines again.
TBirdNeil: Or you will regret it big time
Lampo: DPatter - You cannot get out of debt if you keep getting right back
into it.
DPatter711: I fell that the tax break will help, the lower payments will
allow me to save some and pay
DPatter711: more than the min. mo. payment
JCioffi850: I feel that a loan is the wrong approach! An equity loan is a
home equity LIEN!
Lampo: AMEN!
DPatter711: jc - explain
Lampo: Rat - Negotiable?
JCioffi850: Why give away your equity?
RIVERATb: Yes, will get part back
TBirdNeil: Sure it's a lein but they make be forced to solve the problem this
time!
JCioffi850: Cut the expensses and establish some financial disciplines!
DPatter711: JC - I don't have much yet, we bought the house in Oct. (our
1st).
DPatter711: We have cut the expenses, we are still just paying more than we
make
JCioffi850: Where's your plan? Your avoiding a confrontation with your
demons!
DIFF PARTS: would land contract have more benefits to you?
JP1853: Beware of trying to completely furnish that new house immediately
TBirdNeil: I suggest you cut your lifestyle expenses. That will solve the
problem.
DPatter711: My plan is at my left elbow
JCioffi850: lETS HEAR YOUR PLAN THEN!
MChavis672: I just sent in a request to the 3 cred. bur. to correct my cr.
rpt. How long does it usually
JCioffi850: Sorry!
Lampo: Now, now John. Calm down.
MChavis672: take them to respond?
TBirdNeil: Welcome MChavis672 andBirdManUNC
DPatter711: I pay 774 for a mortgage, 300 for 1 car, 230 for another, 504 in
expenses (water, etc.) and
Lampo: MChavis672 - Keep on them!!!
DPatter711: 570 in credit payments
RIVERATb: Lampo- any other suggestions?
Lampo: DPatter - That $504 needs to come down.
JCioffi850: Mortgage is...?
TBirdNeil: DPatter-what is the balance of your smallest debt?
Lampo: River - I'm sorry. Yes. What are the terms they are offering you?
How many years, etc.
DPatter711: that 504 is car insurance (which I am currently shopping for) and
electricity, etc.
DPatter711: TBird - 270 to Rhodes Furn.
Lampo: $504 a month in car insurance?
TBirdNeil: JC -can you answer MChavis?
IGO2XS: HI EVERYONE?
DPatter711: 170 mo. in ins., 100 in elec. 50 for water
Lampo: Hi right back at you!
TBirdNeil: OK then concentrate on paying off the $270 then...
Lampo: Okay. Have you tried renegotiating the interest and/or finance
charges on CCards?
DPatter711: Lampo - yes, most have been hostile
Lampo: That's their game!
TBirdNeil: take the money that you were paying towards the $270 and apply it
to the next smallest debt
RIVERATb: 2 yrs. lease close Aug. 97 with 5000 acrued twds. 100,000
DPatter711: I have calculated that that method would take me 7 yrs
IGO2XS: I HAVE TO DECLARE BECAUSE OF INJURIES DUE TO AN AUTO ACCIDENT, HOW DO
I LET THAT BE KNOWN ?
TBirdNeil: Welcome IGO2XS
Lampo: You have to get past the minimum wage guards to get inside where
decisions are made.
DPatter711: the loan would take 6 with the same $ payment
TBirdNeil: Well thats better than 10-30 years!
DPatter711: Sears is rigged to take 32 years
JCioffi850: DPatter, follow Tbird...Nail the little guys...be methodical!
TBirdNeil: IGO2XS declare BK?
Lampo: Rat - If you've paid $300 x 12 months x 2 years that's $3,600 -
where's the $5K
IGO2XS: CHAPTER 7
JCioffi850: Sears! Yeah 21% interest! EGAD!
DPatter711: But is the intrest deduction worth it
TBirdNeil: See if you can roll the 21% SEARS to another card ASAP
TBirdNeil: What interest deduction?
DPatter711: title one loans are tax deductable
JCioffi850: MChavis, what can I do for you?
Lampo: IGO2XS - Hi. You are going to file Chapter 7?
IGO2XS: NO CHOICE I OWE 73GRAND
TBirdNeil: I suggest that if you want to lay it all on the line you take the
TITLE 1. As long as you ..
Lampo: DPatter - Okay. Do you itemize?
TBirdNeil: realize the consequences>
Lampo: IGO - In secured loans or CCards?
MChavis672: Hi, JC. Just wondering how long it takes the cr. bureaus to
respond for correcting my cr rpt
DPatter711: Lampo -yes
IGO2XS: AND I'M ONLY 23
Lampo: IGO - 23? How have you accumulated this debt?
JCioffi850: The law says that they have a "Reasonable period of time"
interpreted as 30 days
TBirdNeil: IGO2XS -sorry to hear that. Have you explores any alternatives?
JCioffi850: From the start of an investigation!
DPatter711: How does a lein work?
Lampo: D - Against what type of property?
IGO2XS: COLLEGE- PERSONAL LOANS, CHARGING TOUITION ON CC'S AND, I LIKE
EXPENSIVE THINGS
JCioffi850: DPatter...if you default...they own your house!
DPatter711: Lampo - single family res.
RIVERATb: Lampo- $300x12=3600 3600x2=7200 So, actually I figured low
DPatter711: JC - do they take the house, or do they take their cut when I
sell
Lampo: IGO - you better change your tastes my friend!
IGO2XS: EXPLORED ALL OTHER OPTIONS, THE REPOSESSED MY CAR. I WENT FOR A NEW
ONE
JCioffi850: You can't make a move without the lien removed!
MChavis672: I sent the requests to them via USPS Priority 2-day on Tues. Does
the clock start today?
IGO2XS: AND THE ONLY CO THAT WOULD FINANCE ME WAS BMW
DPatter711: JC- but do they lock me out, or do they wait
JCioffi850: MChavis, you can dispute specific accounts over the phone with
each bureau
IGO2XS: FROM THE RITZ CARLTON TO THE ECONO LODGE?
TBirdNeil: In todays easy credit lenders will take a chance on almost anyone!
Lampo: IGO - Yes. If that's what it takes. The question is... Have you
learned a lesson?
JCioffi850: DPatter...the course of action depends on the creditor's legal
team!
IGO2XS: ABSOLUTELY- I HAVE EVEN LOST 20LBS STRESSING OVER IT
IGO2XS: AND i WAS ONLY 112
DPatter711: JC - is there a customary procedure
TBirdNeil: We are discussing getting out of debt! Your hosts are Lampo and
TBirdNeil
JCioffi850: No, it varies!
Lampo: IGO - See? It's not smart to mess with credit cards and other legal
forms of torture!
OnlineHost:
OnlineHost: *** You are in "Real Life". ***
OnlineHost:
IGO2XS: WELL, I FAILED BIG THIS TIME AND WILL SUFFER FOR 10 YEARS
Lampo: IGO - You didn't fail. You made a mistake and you can work your way
back. Honest!
TBirdNeil: What "advice" do you have for the rest of us???
TBirdNeil: Please share
IGO2XS: ALL BECAUSE SONE JERK HIT ME AND I AM INJURED AND CANNOT WORK
TBirdNeil: DPatter-what advice do you have to offer?
Lampo: IGO - Have you written your creditors about this?
RIVERATb: IGO-Not true! We are working our way back from medical bills on our
kids
Vic n Mike: greetings, all
DPatter711: TB - to IGO or everyone?
Lampo: Greetings Vic n Mike!
TBirdNeil: Whatever you feel comfortable with.
IGO2XS: THEY DO NOT CARE- TRUST ME, I TRIED EVERYTHING TO AVOID THIS
DPatter711: IGO - have you tried to sue for lost wages?
Lampo: IGO - I know they do not care but I have seen people do that and
suceed!
Vic n Mike: hello, lampo -- what's the topic for the evening?
Lampo: Debt, debt, and more debt!
TBirdNeil: Getting out of DEBT!
IGO2XS: NOT UNTIL I STOP "TREATING" MY LAWYER SAYS
Lampo: Oh yeah! Especially that!
IGO2XS: IT MAY BE NEVER
RIVERATb: Thanks!! Gotta Run!!
Lampo: IGO - Stop treating? What do you mean?
IGO2XS: PHYSICAL THERAPY, SPECIALISTS, ETC.
Lampo: IGO - If you're undergoing treatment, your attorney should be able to
hold collectors at bay
IGO2XS: ITS MY SECOND ROUND OF THERAPY AND SOMETIMES I CAN'T EVEN GO BECAUSE
OF THE PAIN
DPatter711: Thanks for the opinions, Good Luck IGO, gotta run.
TBirdNeil: Good luck DPatter
DPatter711: Thanks
IGO2XS: I HAD TO MOVE HOME AFTER 6 YRS IN NYC- ITS HELL. I'M THE OLDEST OF 7
Lampo: IGO - I'm sorry about the pain and the therapy, but you can't just lay
down and die.
TBirdNeil: Welcome Roate
Lampo: IGO - You have to fight back!
TBirdNeil: Welcom Slackum
Slackum: Howzzit?
Lampo: IGO - Is this attorney for the accident or for the debt problems?
TBirdNeil: GOOD! We are discussing getting out of DEBT!
Slackum: How?
Lampo: CUT THEM CARDS!!!
IGO2XS: DAMN RIGHT! BUT PHYSICALLY I CAN'T DO ANYTHING. I LOOK NORMAL BUT AM
NOT
Lampo: That's what your attorney's for. What's he doing?
TBirdNeil: Slackum- there are techniques to free yourself from debt!
Slackum: So, right when you're about to get ahead, the air conditioner blows
up. $$$$$$$$$$$$$
IGO2XS: ATTY #1 FOR ACCIDENT, NEXT WEEK ATTY#2 FOR THE BANKRUPCY
JCioffi850: IGO, in Florida, you would have no problem finding the
Anti-Christ for an attorney!
Lampo: Slackum - That's why God made emergency funds!
JCioffi850: Igo, its time to employ the Anti-Christ!
TBirdNeil: Slackum-it is easier if you save a little each month to build your
e-fund.
IGO2XS: I'D LOVE TO DECLARE THERE BUT HAVE NO MONEY TO MOVE. WAS IN NAPLES IN
JAN
JCioffi850: Make that other person take responsibility for their actions!
IGO2XS: AND THE RITZ WAS $500/NIGHT. CAN'T AFFORD IT
Lampo: Slackum - Your goal should be to accumulate 3 to 6 months worth of
living expenses.
Slackum: Seems unobtainable
Lampo: Slackum - That way you can survive broken A/Cs, downsizing, etc.
Lampo: Slackum - Why?
IGO2XS: ANYONE KNOW AN ANTI-CHRIST IN NE PENNSYLVANIA?
TBirdNeil: Why do you say that slackum?
Slackum: Roger. Understand the concept.
Lampo: T?
Lampo: So why does it seem unattainable?
Slackum: Don't pick on my spelllinggggg
IGO2XS: ANYONE?
JCioffi850: A good parasite,...er attorney is available in every state!
even PA!
Gracie30: Hello
Lampo: I'm not picking - I promise!
Lampo: Hi Gracie30!
IGO2XS: CAN'T FIND A BARACCUDA
TBirdNeil: Welcome Grascie30
Slackum: How many of you sell insurance?
IGO2XS: NOT ME
TBirdNeil: sorry Gracie30
JCioffi850: Call the Bar Association in PA!
Gracie30: Hi Tbird!
TBirdNeil: None of us!
IGO2XS: GOOD IDEA
Gracie30: thats ok!
TBirdNeil: We are discussing getting out of DEBT!
Slackum: Wwhat is your approach to this problem?
Lampo: So Slackum - you never said why it's unattainable to get an emergency
fund going?
TBirdNeil: Which problem insurance or debt?
Slackum: Debt
IGO2XS: THANKS EVERYONE- ITS BED TIME FOR ME IF ANYONE GETS ANY BRIGHT IDEAS
E-MAIL ME @IGO2XS@AOL
Lampo: Slackum - Stop borrowing money to meet your daily needs.
IGO2XS: BYE
Lampo: Bye IGO
TBirdNeil: Spend less than you make ( in a nutshell).
Gracie30: ideas for what?
Lampo: Good T!
TBirdNeil: Thanks!
SGLRBL: good evening
Lampo: Good evening to you.
TBirdNeil: Welcome SGLRBL
Gracie30: good evening
SGLRBL: thanks for the welcome. what's new
Lampo: Debt. But it's old and going - we hope.
Lampo: Hi JCunnin429
TBirdNeil: We are discussing getting out of debt!
SGLRBL: debt. I can't stand it. how can we ever dig out? it's so
demoralizing!
Lampo: That depends on how deep you are!
SGLRBL: any ideas on how? we've tried doing away with the credit cards.....
TBirdNeil: One way to start is to stop acquiring NEW debt!
Lampo: Tried or suceeded?
TBirdNeil: What happened?
SGLRBL: good idea, TBird, but when you have to keep food on your table....
Slackum: Best wishes to everyone. Good evening.
SGLRBL: good night slackum
TBirdNeil: Good evening Slackum
Lampo: You can't finance chuck roast. That will bankrupt you fast.
WAnder9523: slackum take the advice..start a e fund
TBirdNeil: We understand that! Most of us have money leaks that can be
plugged/diverted towards...
Lampo: Hi JAYSEP1
SGLRBL: what do you mean, TBird?
TBirdNeil: necessary expenditures OR debt!
JCioffi850: We really need an education program that defeats the premise that
credit is essential
JCioffi850: for everyday living!
TBirdNeil: Do you "track" where every penny goes?
TBirdNeil: JC-Here Here!
SGLRBL: actually, not yet. any suggestions for how to do that, via computer
programs or otherwise?
Lampo: That is true. No one teaches us how to handle money. We can count
it, we can draw it,
Lampo: we can write really nice reports about it, but cannot handle it.
JCioffi850: Can't save it for....
TBirdNeil: You will discover money being that is overlooked.
SGLRBL: maybe I should do what I've been "thinking" about doing for a year --
get a household budget
SGLRBL: together already!
Lampo: SGLRBL - Excellent!
TBirdNeil: I mean spent better in other areas of your life i.e. paying off
debt
SGLRBL: we don't have it written down on paper. Is that the key? writing it
down?
JCioffi850: Accounting is essential! budget! cCut the cards and no ATM cards
either!
Lampo: SGL - you can't get a handle on your finances until you know what's
coming in and going out
TBirdNeil: A written plan is the "KEY".
Lampo: Hi PITAONE.
Lampo: SGL - Spend every penny on paper before the month begins!
Lampo: Hi MLD148!
SGLRBL: how do you all create your budgets? do you use "Quicken"? or another
program? or what?
Lampo: Hi Tbvanmd!
TBirdNeil: Try a blank checkbook register to "log/track" your expenses for
the next 21 days. You will .
Lampo: I use pen and paper.
TBirdNeil: be amazed!
SGLRBL: you are making it sound too simple.
Lampo: You know what works best for me? The evelope system!
TBirdNeil: Keep it simple as possible.
JCioffi850: It is simple...if you try!
TBirdNeil: The key is to do it!
Lampo: I have an envelope for every category - groceries, rent, clothes,
vacation, dry cleaning
SGLRBL: then why isn't it working for me?! I am religious about noting
expenditures in the checkbook
TBirdNeil: *(instead of just talking about it).
SGLRBL: register,
JCioffi850: Dry cleaning?
Lampo: when the envelope is empty, I can't spend any more money in that
category that month
SGLRBL: I almost never dry clean stuff
JCioffi850: Iron your own clothes Lampo!
Lampo: absolutely dry cleaning - everything I spend money on has an envelope
RLInsGuys: Hello all. Welcome to Insurance Planning 101!!
SGLRBL: Lampo, I like that. Envelopes created for each category?
TBirdNeil: coffee? cokes? misc expenditures? etc etc etc.
Lampo: SGL - are you a female?
Lampo: SGL - I subscribe to the KISS your money theory - Keep it simple
stupid
SGLRBL: yes, I'm female, but my husband is MUCH worse than me in this regard
RLInsGuys: Do we have any Insurance related ??? to get the ball rolling?
Lampo: coffee and cokes fall under groceries and misc. comes out of my "blow
money" envelope
TBirdNeil: Our time is up! Please e-mail us if you have any further
questions! BYE!
MLD148: What do you recomend to the just married for life Insurance.
JCioffi850: Insurance time! Time to evacuate!
WAnder9523: bye tbird
TBirdNeil: bye!
Lampo: Thanks guys! T-bird and I will be happy to answer any e-mail re:
debt!
SGLRBL: new york life insurance co. has the best products
RLInsGuys: Good question. Tell us a little more about your situation
TBirdNeil: aok
SGLRBL: bye tbird, bye lampo. thanks for the help!
Lampo: Bye SGL and good luck!
WAnder9523: bye lampo..twas informative