Over a Year and Where Am I Now?

Posted on December 11, 2008
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It was a little over a year ago that I first started Oh My Aching Debts. It has been a journey and a learning experience in many ways. Not only have I learned a lot about personal finance but I have also learned quite a bit about writing and maintaining a blog.

As I look back over the last year and compare where I was then and where I am now, there have been some surprising successes and failures. A year ago, I was buried in credit card debt, mortgage payments and bill collector calls. My income wasn’t enough to pay even the minimum payments on my loans much less pay them down. Everything but my mortgage went into default.

Today, I am in much better shape financially. The credit cards are paid off and the only outstanding bill I have is a personal loan. It was not an easy journey and the casualties were many. I put my house on the market as I could not afford the payments. I closed my business as it was costing me more to keep it open than it was making probably more because of the downturn in the economy than anything else. I started training and selling horses and surprisingly enough that has enabled me to get my head above water for the first time in 3 years.

I am still not in a good position financially. I have no health insurance, no retirement and a very small emergency fund but on the other hand, my bills are paid, there is food in the freezer and I am not lingering at debt’s door.

Oh My Aching Debts has covered a lot of ground over the last year. I have had articles on credit cards, debt reduction, debt snowflaking, recipes, gardening, homesteading, etc.

The most popular posts have been:

12 Vegetables You Can Grow In A Pot

Could You Live On Under $5000 a Year?

Negotiating Debt With Original Creditors

10 Steps to Take if You Can’t Pay Your Bills

A Letter To My Daughter On Graduation Day

All in all it’s been a year that has been packed full of learning new things and new ways to save money. It’s been a year of change for me as I changed my mindset from spend, spend, spend and worry about the future later to a lot more concern with the future and being willing to sacrifice a little today to insure a secure tomorrow.

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Comments

3 Responses to “Over a Year and Where Am I Now?”

Bouncing Back Betty on December 11th, 2008 11:15 am

In this economy, I find it odd and a bit interesting that people are still spending money on things like horses and dogs. My part time job barn sitting has worked out, the trainer I work for has very few “openings” for shows/clinics over the winter. A friend of mine breeds dogs and has a waiting list for her next litter.

I think you have done some amazing things this year. Great job on the debt pay done and doing what has to be done to improve your life.
cindys on December 11th, 2008 5:15 pm

Betty, I have to agree with you although prices have dropped dramatically. Horses that would have sold for several thousand dollars 2 years ago now sell for under a thousand and it takes forever at that price.

Strangely enough when times are tough, people turn to their hobbies, pets, etc to relieve stress.
The Friday gathering - Finger update edition on December 12th, 2008 8:01 am

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