Hello fellow Broke Galaxians,
Interest--it's the evil master that controls those of us with
credit card debt. I found myself in this situation a few years ago. I was
underemployed, broke, and had debt coming out the Wazoo (not sure what a Wazoo
is--but I had debt coming out of it). When we didn't have enough money for food,
gas or a car repair, we would put it on the credit card. Problem is, you can
never get in front of the interest when the debt gets too high.
My Story:
I couldn't find a full-time job that paid above minimum wage,
so we tried a lot of different ways to make money. We worked all kinds of odd
jobs and even different ones found on the Internet to make ends meet. We even
sold items around the house. However, it seemed like for every extra dollar we
made above our monthly expenses something would happen that would take exactly
that amount of money. We sold our red canoe for $800--not a day later, our
truck broke down and repairs cost exactly $800. We just couldn't seem to win.
Finally, I found a job that paid more than minimum wage. We
decided to take this opportunity to pay off our debts. So, for a year and a
half, I put every extra penny into paying off that credit card debt. I even
took out a low-interest loan to pay off the high-interest credit cards and then
put everything into that loan. Guess what happened? I was laid off from my job
and my severance was . . . just enough to pay off the loan with only enough to
last for my expenses for a month. I feel fortunate, but at the same time
frustrated.
Over the years, I've worked hard at cutting expenses and
finding ways to buy things I need with as little money as possible. These are
the things I've learned:
1. If it has value, I never donate it or throw it away. We
live in a throw-away society where we take little value in items that aren't
new. I try to find new ways to use or fix them. I love giving new life to old,
used up furniture. Whenever someone has an old chair they are throwing away, I gladly take it off their hands. I'm not an expert at refinishing, but maybe one day I will be.
2. I look for opportunities everywhere I go to find things I
can sell. Yard sales and second-hand shops are great places to find used items
that can be resold on eBay or Craigslist. When cleaning out my mother's house
after she passed, she had skeins and balls of yarn everywhere. I pushed it all
into a pile, took a picture of it and sold it for $30 on a local Face-book
site. This may seem like a lot of work for $30, but if I was making minimum
wage, this is a half-day's worth of work for 15 minutes of gathering, taking the
picture and listing it. You never know what someone else wants or collects. My husband
looks for men's name-brand sports jerseys, pants and shirts at the second-hand
shop for a dollar or two and resells them on eBay. We once found used computer
software at a yard sale for 25 cents and sold it for $25. Like I said, I always
look for value.
3. I've learned to draw on my talents and create new skills.
I love art, so I decided to teach myself to paint. After finding an online
store that sells artists creations, I was able to sell several paintings. I
also wrote several eBooks in my spare time which has brought in a monthly income for years (not a lot, but every little bit helps). One thing I enjoy is fixing up
old furniture. It's amazing what you can do with a YouTube video and some
ingenuity. It's never comfortable putting yourself out there for the world to
see, but learning new skills can be rewarding and sometimes profitable.
4. Become an expert at bargaining. Although none us will probably develop the skills to start with a paperclip and trade it for a house, but you never know if that old truck or bicycle in your back yard can be traded for something you need. Always ask, even if the
answer is no, for a discount or a trade. This is especially helpful at yard sales
and even internet sales. Sometimes if you buy more than one item, you can ask
them if they will cut you a deal. Also, if you're at a certain age, put on your
granny panties and deal with it, wear that old-age badge proudly and ask for
that senior discount.
5. Don't spend money. Yes, it stinks not being able to go
out to eat at restaurants all the time. If you think about it, you can make the
meals yourself and it will taste a lot better and is cheaper than most
restaurant food. The only food I refuse to make myself is Chinese. I end up
using so many substitutes when cooking that it never resembles or tastes like
Chinese food when I'm finished with it. If I do go out, I look for ways to save
money. Groupon has local coupons that can save you money.
6. Maintain a positive attitude. Look at it as an adventure or you will become too
depressed and may need antidepressants (which will cost money). Your mindset
needs to be positive. Although it's tough being around friends and family that
don't understand your needs to cut costs, stay strong. This is a challenge that
will pay off in the end--you can do this and you'll be better for it.
Well, everyone--I would love to hear
ways that you save money. You never know if what you say will help your fellow Broke Galaxians.
Peace peeps,
Broke Girl
