Welcome to Bossy’s Poverty Party, an online support group for reining in spending, getting your finances in order, and climbing out of debt. Everyone basically knows what steps to take, but it is nearly impossible to climb that mountain alone.
every day nearly every day over the next year, Bossy will use this space to report her spending and missteps, along with cheap recipes, savings tips, and suggested tricks and goals.
You are looking at what Bossy’s husband was doing last night instead of going over bills with Bossy. He was watching baseball—and because Bossy was monopolizing the family room and the only decent television, he was forced to stand in the middle of Bossy’s son’s room watching the playoffs on a postage stamp. OK, he didn’t always stand. Sometimes he sat in a broken desk chair.
And if you’re wondering why Bossy wasn’t bugging her husband to make time for the discussion about their various accounts and debt, she didn’t need to: her husband was bugging her to make the time. But Bossy had some pressing work to get done, where pressing work equals watching reruns of The Rachel Zoe Project.
However, Bossy and her husband did manage to set the alarm in order to go over their various accounts and balances early this morning:
So the first thing Bossy did was separate out her house mortgage from the rest of their debt. Although technically Bossy’s house contributes to the overall amount of money they owe, it also accrues value and isn’t the same as a draining balance on a credit card.
However, a few years ago Bossy and her husband took out a home equity line of credit against their house’s value in order to consolidate their debt (for things like school. And life.)—and to finance a few home improvement projects (new roof, new fireplace.) And this amount, Bossy counts. Boy does she count it.
As a matter of fact when Bossy saw the amount of their home equity line of credit—$42,853—Bossy died. Goodbye, Bossy!
But then she was resuscitated, and lucky thing, because after that amount, her other balances looked like the scattering of coins she used to throw in the bottom of her plastic grocery bag. Namely: Bossy and her husband owe money on their 2001 Honda (purchased used; balance of $3,215), their Mastercard #1 ($14,250), and their Mastercard #2 ($2,200).
mal seizure total = $62,518
Now if that doesn’t make you feel better about yourself, Bossy isn’t sure what else she can do. Perhaps don pink tap shoes and hop-shuffle-ball change?
Has everyone gone off to research the exact balance of what they owe?* It has to be an exact number, because then you can watch that exact number drop. If the amount you owe is vague, then your commitment not to spend will be vague.
Then Bossy will meet you back here tomorrow for the next step she plans to take: befriending the balance.
* note: Bossy doesn’t expect you to share your debt amounts, unless you want to. There is plenty of other information to pool.
Check below for the list of blogs already participating in the Poverty Party. And don’t forget to comb the comment section for links to entertaining Poverty posts across the web.