Taking The First Financial Steps

The previous post was actually written on 7/6/09, and this was written today, 7/7/09.


Today I called OnStar to cancel my subscription in my attempt to eliminate all extraneous expenses. I would like to keep OnStar, but it is not necessary, so it gets cut. So I call, and work my way through the menu to cancel, and speak to a nice girl who goes through her spiel and eventually I tell her I just want to cancel. She asks me why, and I tell her I just can no longer afford it. So she offers a reduced rate, from $18.95 to $12.95. I tell her no thanks, I still can't afford it. So she offers to give me 3 months for free, and then the reduced rate beginning in October. I agree to this, and since I am not on any contract, I could cancel before I get charged the reduced rate. Or I could include it in my budget. I will evaluate as it gets closer. All in all though, I am getting 3 months free of a service I was planning on doing without! Sweet.

I also changed my W4 online to from 0 allowances to 1. I will see how much more my check is, and maybe go up to 2. I do need more now, but at the same time do not want to pay any tax come April. My goal is to get a return, but it be as small as possible. With my low fixed income, 1040EZ, and starting this job close to the beginning of the year, I should be able to be okay come tax time. I will research online to see if I can figure it out.

I've also begun my Internet research into personal finance. A lot of it doesn't apply to me, but there is still good information that I can use, once I sift through it all. Not surprisingly, there is a great deal on the net about how to handle money. I'm kind of looking forward to getting inundated with all the penny-pinching info.

I'm unexpectedly off for my normal two days now, and this will give me time to cancel Gold's, work on my 4th step, and get a haircut! More later.

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So even by trimming everything I can off my budget, I am still at -$200. Cutting AA donations, that still puts me at -$170. The only flexible categories are food and gas. All others are fixed. As much as I don't want to do it, I will have to rely on credit to make up the difference. That is, if I can get more credit. So far, it's not looking good. Well, I just have to do what I can to reduce what I can. So far, my research has told me ways to save on things I can't afford to buy.

I have reduced grocery and gas as low as I think I can, and that puts me within $100 of my income. Maybe I can squeak out enough credit to cover that, in addition to less withholding. I won't know about the withholding until the 17th. I've already been rejected from AmEx, but that was a long shot anyway. I believe I got an approval from some discover card, but will have to see how that turns out. I'm expecting to get refused from all of them. I will respond to any pre-approved ones I get in the mail. I would rather not acquire more credit, but have to do something. I will look into debt consolidation.

Just did preliminary sign-up at creditcareone. It seems I can save money on my credit card bills. I will seriously consider this tomorrow on my day off. Must do serious work on 4th step!

Try to see if refinancing car loan would save on monthly payment.

I wish I could increase my income without getting a second job. My free time is that of a normal 40-hour-a-week person, except I work 4 long days and have 3 days off. Maybe I could find a way to make extra money without cutting into my free time too much, or at least be doing something I don't mind doing, maybe even enjoy doing. Once I have exhausted cutting my expenses, then I can research increasing income.

I really don't want to lose Gold's. I really like working out there. I will work on this. It is the one part of my budget that is not absolutely necessary, but I do use it a great deal. Definitely enough for the $22 a month. I will discuss this with Marc and see what he thinks. Just keep on working on my finances!