debaser,
Hello and welcome back. The last time I saw you was on New Year's Day.
I am sorry to hear you are in a bad place and it does feel like you have had some rough times this past year.
debaser on 1/1/2009 said...
Well, after getting caught up in the myriad of spiderwebs that are credit cards while I was in college, I have steered clear of them ever since. I think the way those companies do business is unethical and a number of things they do should be against federal law. Soon they may be, too.
If you're in too deep, obviously you need to discuss it with a lawyer first but don't be ashamed of filing bankruptcy. They structure your debt in such a way that they can milk you forever...you'd have a hard time paying it off if you truly are in too deep.
Anyway, since the post-college aftermath I've been on a pay-as-I-go system and it's worked out very well for me. I obviously do have a car loan, but my payments are low as I purchased a six-month old used car and put a lot down on it. If you need to buy a car, do your best to find a good used one. Depreciation on new cars makes them a horrible investment. You'll save a lot of money buying used if you're careful about what you buy. And it goes without saying that you shouldn't buy another car unless you really need one -- meaning that you're about to put a $2000 transmission in a 10 year old Mitsubishi. That doesn't make sense. Trade it in and spend the transmission money on a down payment for a good used car that gets good mileage and is a reliable make and model.
If you still have a job (most of us do...it's not THAT bad out there), you may consider doing what I've done, and that is move your money into a higher yield money market account as opposed to more risky instruments or low-yield savings accounts. I went with ING Direct. Money market accounts are FDIC insured. And it's worth noting that a lot of people are buying T-bills and treasury bonds right now. But the money market accounts are very fluid. Check them out, but don't necessarily go with the bank that is offering the highest rate. Customer service is important! Also search the web for promotions. Before I opened my ING account I searched for promotions and got a code from a website. ING gave me $25 and whoever ran the site got something, I'm sure. Other banks besides ING do this kind of thing.
That's about all the food for thought I can give really. Anytime you buy something, ask yourself if you really need it. Should do that in good economic times, too! Save your money!
I am bringing up your last post so you can take a look at it an see if you can find where things started to turn downward for you. I thought it might help to be able to put a perspective on how you were doing back in January.
I am sorry about the break up with your fiancee' and that alone must be very hard for you. It was the loss of a dream for you as it would be for most anyone and if you did not want the break up it makes it even harder to deal with.
I would like to see you stop going backward and just stay right where you are for a bit so you can get a good foothold and make plans to slowly move forward again.
You made such great strides in learning to deal with your anxiety but with all of the downward trend this past year in the economy many people are feeling their anxiety start to rise and I hope you can use the tools you learned to stop your anxiety from spiraling out of control.
When we do not feel good emotionally we often feel physically ill.............have you seen your Physician for a good medical screening exam lately? You may want to look at visiting with your Doctor re how you are feeling anxious and depressed too.
Glad to have you back with us,
Kitt