Symptoms of a Shopaholic

By christina | July 1, 2010

I don’t think I’m a shopaholic, but I do know that I spend money occasionally on things that I shouldn’t without a second thought and while completely disregarding any budgets or frugalness that I’ve acquired recently. I can say I’m a lot better than I was, but as with any illness I’ve considered the possibility that I may be a shopaholic.

And of course I figured I should google it. Never google symptoms by the way, because an itchy back can turn into anything from pregnancy to food poisoning. I did think in this instance, it may be safe though.

Buying Things You Don’t Need or Can’t Afford:  Yes. I think many people do this, but common sense is supposed to tell us that we don’t need a new costume for our dogs or we can’t afford a new car.

Shopping to Feel Better: I can’t say shopping has ever made me feel better. If I am depressed, angry, lonely or anxious, the last thing I want to think about is shopping. This does seem to be one of the main symptoms that shopaholics share though. Many addictions result in a need to “feel better” and usually end up making things worse.

Do You Hide Your Shopping?: Do you hide your purchases from others? Do you feel guilty or ashamed after going on a shopping binge? I have to answer “no” to both. First, I don’t have anyone to hide my purchases from except my 6 year old daughter, who would most often give me a thumbs up on anything new. I do feel guilty sometimes that I have purchased something I shouldn’t have could’ve waited on.

Has Shopping Affected Your Job or Social Life?: No, and to me this is ridiculous, not intentionally minimizing the fact that this is a true symptom of a real illness. I don’t miss work to shop and well, I don’t really have a social life. If I did have a social engagement I’m not missing it to go shopping. This symptom involves making the choice to shop instead of doing something else that may be considered “normal”…like going to work.

Shopping to Avoid Doing Something Else: I can’t say I completely understand this symptom either. I can’t really fathom how buying something would help me avoid doing something else. Let’s see, I hate going to the grocery store. I can’t really go buy a new sweater because I hate buying food. I still need to buy food.

I think these are the main symptoms. There are a bunch more, but they seem to be similar to these that I have covered. You can read the article here if you’re interested in all of the symptoms of a shopaholic. I should mention that it says if you answered “yes” to any of the questions, you should take the questionnaire with you to a doctor or mental health professional. Almost makes me want to go back and change my answer. I would say considering my results I may be just someone that should stop buying things I don’t need or can’t afford. I don’t think I need medial attention quite yet.

I did find out that I’m not pregnant or have food poisoning though. So it was worth looking up.

Posted in Purchases | Tagged | 1 Comment

Non-Dischargeable Debts in Bankruptcy

By christina | June 26, 2010

Before even considering bankruptcy, you should know whether the majority is even dischargeable. If you have the assistance of an attorney, he or she will be able to let you know. It is fairly common though for debtors to try to file their bankruptcies themselves. It would be a waste to find out that the biggest debt you were hoping to gain relief from is not dischargeable. Here is a short overview of debts that you will not be discharged in a bankruptcy.

Student Loans:  Unfortunately, many people have huge student loans that cause the bulk of financial difficulty. Student loans can only be discharged in bankruptcy if it is proven that paying them back would cause the debtor or the debtor’s family undue hardship. Debtors also need to prove that the circumstances of the hardship will not improve, which may be difficult.

Taxes:  If you have tax problems that need to be repaid, you won’t be able to depend on bankruptcy to assist you. Most state, federal and local taxes are non dischargeable debts that have become due within the past 3 years will need to be paid.

Alimony, Child Support and Support Payments:  If you owe anyone any of these forms of support you will still be responsible for the debt.

Criminal Fees or Restitution: If you have fees or restitution that is owed because of a criminal matter, these debs are non-dischargeable.

Debt from Fraud or Illegal Activity:  If the court finds that you owe debts for any activity deemed fraudulent or illegal, they will not be discharged in bankruptcy.

There are certain circumstances where in rare cases non-dischargeable debt can be included in the bankruptcy. Most of the time the debtor will need to file a Complaint to Determine Dischargeability and show that the debt isn’t covered by the general rules of non-dischargeability. Make sure if you are considering bankruptcy that you are aware of which debts will be discharged and which ones will not.

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Counting My Financial Blessings

By christina | June 24, 2010

This post is literally to prevent myself from snapping and going crazy. Yes, things are well, but as everyone knows there is always something lurking around the corner waiting to jump out and choke you out. Okay, maybe that’s just me. It does seem like an unexpected disaster is always sneaking up on me in some form and really, I’m getting sick of it.

So. Regroup. My financial blessings to follow. I have an abundance of other blessings to count that are not financially related, but this is Miss Bankrupt and so I proceed with preventing myself from going nuts.

1.  I am not hungry.  Actually I am hungry because I’m one of those people that needs to eat multiple and entire meals every day. Another blessing that is not financial but yet related of course is the ability to do this without killing myself. No matter what jumps out at me, my daughter and I always have more food than anyone would ever need. We aren’t exactly prepared food-wise if the end of the world is nearing, unless you count the cans of kidney beans and artichoke hearts, but if it’s the end of the world we won’t be eating anyway.

2.  My family is close. How is this a financial blessing? Numerous ways of course, and no I’m not hitting up the fam for cash. In relation to my first point, I am not hungry, but there is a certain security in knowing that my parents are down the street if for some odd reason I have no food, or in the event that it is the end of the world and I happen to be alive and sick of kidney beans.

3.  I have a home. I am renting but for the rent I am paying and for the money that I make, my daughter and I live in the nicest home and area that anyone could ask for. A pigsty which I am ashamed to admit because I still haven’t figured out how to budget in a housekeeper, but living in a home with no issues, no roof caving in, no rats or broken down anything, well is pretty much priceless.

4.  I dress well. Don’t ask me how but I’m pretty much a broke person in nice clothing and so is my daughter. Material at best, but in my opinion how we appear directly affects how we think of ourselves. Sometimes. When I’m working out I don’t care obviously because I still feel good. My daughter does not have to wear torn up clothing that doesn’t fit her properly and pretty soon we’ll be able to share clothes. Sweet.

5.  I have jobs that pay the bills. Jobs that exhaust me and overwhelm me, but I am employed and compensated for the exhaustion. I have the privilege also of being able to work from home which not only saves money on daycare expenses but allows me to be with my daughter instead of adding a part time gig to supplement my finances.

Maybe these seem simplistic but I work where I see plenty of people in worse situations. I am also reminded that at least I don’t live in North Korea (see previous post).

I am frustrated beyond explanation but things can always. Always. Be worse.

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Feeling Hopeless? Look at North Korea

By christina | June 21, 2010

If you ever want a reminder that things really aren’t so bad here in the wonderful U.S. of A., take a look at this article about the devaluation of currency in North Korea.

In case  you’re like me and had no idea such a thing could happen, apparently North Korea’s wacky looney toon government decided to devalue its currency. This means to those few that actually had any kind of money in North Korea, for example, the construction worker in the article, found out that his life savings of $1560.00, was worth only the equivalent of $30.

Imagine that. Waking up one day and finding out that your entire life savings is worth $30.00. So not only is North Korea starving its people, but its ripping them off. They hustle every day to barely get enough food to eat and by some miracle manage to save some money (shame on me and my savings account, by the way) only to find out it is worth practically nothing, just because. No real reason. It just is.

The construction worker’s biggest regret? That he didn’t allow his daughter to buy the track suit she wanted when they had the money. To me this was the most heartbreaking. Although a different country, different language, different people and a struggle I could never begin to imagine, there is a universal wish. We all want great lives for our children. If he could go back, he would’ve definitely bought that track suit for his daughter.

Things are never as bad as they could be. Guess I can thank North Korea for reminding me of that.

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When Not to Buy Dad a Tie

By christina | June 16, 2010

Father’s Day is right around the corner and lucky for you, I have no post about the top 5 greatest or cheapest Father’s Day gifts. I’ll leave that for the other 5 billion bloggers to cover. I considered writing about what to do with a ton of old ties, but that seemed well covered also. Let me say, that it is quite popular to make old ties into quilts, if you’re crafty like that.

Instead, I’ve decided to point out when you should not even buy your dad a tie in the first place. This way, you don’t have an unworn tie collection that needs to be made into a quilt.

When Not to Ever Buy Dad a Tie Even If It’s Father’s Day

Dad is Not a Tie Guy:  If your dad only wears ties to church on Easter Sunday, I’m pretty sure he has the tie wardrobe covered. He does not need nor want another tie and if you get him one he’ll forget about it by Easter and quite possibly will never wear it.

Dad Tells You Not to Buy Him a Tie:  This is not your father’s way of secretly telling you he wants a tie. If he specifically says “Don’t buy me any ties” that usually means he really doesn’t want a tie. He’s not trying to be funny and he doesn’t subconsciously want one. No means no.

You Think Dad Needs a Tie:  Your father should have a nice tie, right? You think you should be the person that selects it and gives it to him. However nice the gesture, just buy him the tie and give it to him. Don’t make it his Father’s Day gift or gift for any other special occasion. It’s always nicer to buy people gifts that you believe they genuinely want and will be happy with.

Ties are on Sale:  Cheap and frugal are all good in my book. Don’t be so cheap though that you buy your dad a tie because they’re BOGO at Macy’s and you can give one to your grandfather also. To tell you the truth, grandpa’s probably working on his own tie quilt anyway.

If you absolutely must purchase your father a necktie for Father’s Day, at least make sure he really, really wants one and by all means, make sure you are familiar with dad’s style. Some dad’s like bowties. Some like clip ons. At least get him the one he wants.

And you know what? I’m actually early. Have a great Father’s Day!

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Bankruptcy and Why I’m Smarter Than Dave Ramsey

By christina | June 15, 2010

Yeah I know. Just the thought of me being smarter than Dave Ramsey almost shot what I was drinking straight out of my nose. Honestly, though. In all of his financial brilliance, I think I have the wisdom of a broke, been there, regular old off the street chick…wisdom.

This article, The Truth About Bankruptcy, by Mr. Ramsey, kind of sums up his doom and gloom theory on filing bankruptcy. Don’t get me wrong, filing bankruptcy is nowhere near a day at the state fair. I’d say it’s more like being at the top of the roller coaster at the state fair and you’ve realized you’ve peed on yourself. Embarrassing, if anything. Not the end of life, though.

Anyway, in the article, Dave Ramsey shares his feelings on why filing bankruptcy will completely and utterly destroy one’s life. I disagree. Mostly. But then again, look at my bank accounts. Look at his.

Still, as someone who has been there and secretly done that, here are my thoughts.

Bankruptcy Destroys Marriages

Possibly. In all fairness, any financial difficulty results in divorce, or at least assists it along in some way. But so does an abundance of money. Maybe the feeling of “starting over” makes people realize that they should actually start fresh and clean in all aspects of their life. Maybe the marriage wasn’t the greatest in the first place. If filing bankruptcy results in divorce, I’d have to say there are a number of other reasons that were equally the cause.

Bankruptcy Devastates Your Job

I don’t recall this happening to anyone I know. In fact, most people have already either lost their job so it doesn’t matter (thus the bankruptcy) or it affects the job none at all. Your employer doesn’t have to know you even filed bankruptcy unless they are a creditor and you owe them money, which to me would be kind of odd anyway. I do know that some jobs won’t hire you if you have a bankruptcy on your credit report. I would consider all aspects before filing, but if a job or possible job is in jeopardy, it’s worth a second look. Note: If you owe your job money, something isn’t right.

Bankruptcy Steals Your Peace of Mind

If anything, bankruptcy can give you back your peace of mind. No more crazy rude collection calls. No more fears of waking up and your car is gone. No more trying to figure out if you should buy groceries or pay a credit card bill.

Bankruptcy is listed in the top five life-altering negative events that we can go through, along with divorce, severe illness, disability, and loss of a loved one. I would never say that bankruptcy is as bad as losing a loved one, but it is life-altering and leaves deep wounds both to the psyche and the credit report.

That’s what he says. I say I’d file bankruptcy again four billion times if I have to choose between divorce, severe illness, disability or loss of a loved one. It’s no fantastic time, but really?

I do agree with Mr. Ramsey in that it should be a very last resort. When you know you have no other choice. But, honestly, if you learn from it (as with everything else in life) you’ll move on and life can be just as great or greater.

It isn’t the end of the world. I promise.

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Things You Should Not Buy From a Garage Sale

By christina | June 12, 2010

It’s garage sale time which not only means great deals on lots of junk (okay and some great deals on great items) but it also means free entertainment.

Seriously. Have you never been to a garage sale that had items for sale that made you snicker? If not, you’re not going to the right ones then. If you don’t walk away from at least one garage sale per summer that made you shake your head and wonder what in the heck those people were thinking, you’re missing out on some valuable yet cheap entertainment.

Things You Should Never Ever Buy From a Garage Sale and alternatively Things that Should Never Ever Be Sold at a Garage Sale

1.  Underwear. Please don’t make me explain. I do think unworn baby pants are acceptable to sell and buy from garage sales. Grandmas don’t even like grandma panties and really don’t want your Grandma Bea’s old underwear either.

2.  Makeup. Used cosmetics are unsanitary and I don’t care who only used that mascara twice, it should not be for sale. If you’re going to buy someone’s used cosmetics, you may as well wear the underwear they’re selling as well.

3.  Personal Hygiene Products. True story, I’ve seen sanitary napkins at a garage sale. And worse, they weren’t even extra cheap. Purchase personal hygiene products from the Dollar Store or if you’re really strapped for cash, make your own at home. Note: if you click on that link, you’ll go to a site that includes directions on making sanitary napkins. Reusable and washable ones, mind you. Not for the squeamish. By the way, this also means the garage sale is not the place to purchase disposable razors or half used bottles of shampoo either.

4.  Food. I’m not talking about the garage sales that offer refreshments. I’m talking about the ones that have the original Wheaties box of cereal that has been opened. If you think you’re getting something valuable, you’re wrong because a half eaten box of cereal is not only not worth anything, I wouldn’t trust consuming what is still left in the box either. If you don’t recall seeing the product in the grocery store ever, it’s too old. A picture of OJ Simpson in a Buffalo Bills uniform is a good indication the cereal is older than dirt also.

5.  Medication. Of course most people know not to purchase medicine second hand, but I have seen a number of things for sale at garage sales that shouldn’t be. Any kind of cream or ointment including denture cream or packets of pills or cold medicine should not be purchased from or be sold at garage sales. Unless of course you throw the used dentures in with the cream. Then that’s a steal.

This should in no way deter anyone from garage sale-ing. There are plenty of steals and deals to make up for the weird things that shouldn’t be sold. What’s the grossest or weirdest item you’ve seen for sale at a garage sale?

Have a great weekend, and hope you catch some of those deals!

Posted in Budget Shopping, Purchases, Things that are Probably Just Weird | Tagged | 3 Comments

11 Million Dollar Bankruptcy

By christina | June 9, 2010

How is this even fair?  Teresa Guidice (whom I admittedly have never heard of before. I don’t have cable, remember?) filed bankruptcy and owes 11 million dollars. 11 million. So, rich and famous people still get to be rich and famous even when they owe more money than a small country.

Even worse, instead of having to endure the humility and embarrassment of filing bankruptcy that the rest of us have to go through, famous folks get to actually tell their stories and make more money to waste.

I would’ve given People magazine an interview for $50 and I don’t even owe anywhere near 11 million. I’m just sayin’.

Furthermore, how do you even get to be in debt by 11 million dollars? Most of the time creditors start laughing at you when you’re a few thousand in debt. They had an annual family income of $79,000.00. Are you kidding? That’s me and another average adult. Yes, I need a loan for 11 mil please.

Why. Why. And Why. I don’t get it. I don’t mean to sound overly critical of Ms. Guidice but I really cannot wrap my mind around how this could’ve happened. I understand her part, I know full well how easy it is to spend money I don’t have. I don’t understand everyone else’s part though. I almost want to laugh at the creditors that extended the credit and now will probably not receive anything.

Except laughing at people is not nice. I wonder what kinds of things famous people cut out of their budgets when they file bankruptcy.

I bet it isn’t cable. I bet they don’t give up fancy deli lunches or overpriced lattes. I bet they don’t have to look for a part time job. I’m just guessing.

What do you think?

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Miss Bankrupt is a Year Old

By christina | June 7, 2010

It has officially been a year since Miss Bankrupt began blogging about being broke and bankrupt. The very first post was somewhat of an ode to Burger King Croissanwiches, which began my journey to stop wasting money on frivolous things…like Burger King Croissanwiches. I can honestly say I have still not indulged in another and frankly the thought of one kind of turns my stomach.

However I have purchased a dollar hashbrown from McDonald’s occasionally, which is still a complete waste of money. Even though they are only a buck, it’s still a buck spent on a small chunk of oozing grease. I don’t know. Maybe I’m just addicted to grease.

In that first month, I also covered What Not to Buy at the Dollar Store, which I still believe is sound advice, and How to Make Homemade Dryer Sheets, which I still have not actually done and don’t think I ever will. The biggest thing I’ve noticed throughout the blog is that frugality can be really, really odd sometimes.

I browse other pf blogs quite often and find myself occasionally thinking “wow, this person is straight up bananas. I don’t care how much money that saves, I’d never…” I thought this most recently when I read how a family decided to grow their own chickens and butcher them**

Believe me when I say I will never, ever butcher my own meat. I will buy packages of hotdogs for the rest of my life if I have to.

But, in all fairness is it really that bananas? I’ve heard that it’s better tasting meat, healthier (as in organic) and obviously in the long run has to be way cheaper than buying those packages of chicken at Walmart.

And here I was writing about using coffee filters for dryer sheets. If it’s weird, we’re all weird and I accept that. I’m doing way better now than I was a year ago financially and it’s all thanks to frugality, sacrifice, and what may be perceived as a whole lot of weirdness.

To anyone who has been reading this past year, thank you. I adore you for not calling me out on my insanity. Anyway, Happy Birthday, Miss Bankrupt. I may look cheap and crazy, but things are getting better…

**Note: I’m fully aware that the proper terminology is probably not “grow your own chickens”. I just couldn’t think of an alternative phrase that had the same effect.

Posted in Things that are Probably Just Weird | Tagged | 1 Comment

Miss Bankrupt is a Hoarder

By christina | June 3, 2010

Today I emptied my condiment drawer at work. I was forced to clean my office; I’ve been telling everyone it was somewhat of an intervention except no one was crying or reading me letters.

My boss scheduled it on our calendar and then went through my files himself, while I piled up all of the mustard, ketchup and butter packets onto my desk. “What happens if I need hot sauce one day?”

“Yeah,” my boss said. “Because not a day goes by that I don’t wish I had a packet of hot sauce.”

I think I annoy him. Anyway I threw it all into the trashcan after he made a comment about how hoarding starts.

I did hoard all of those packets of sauce. I also hoard money except not in a good way. I have found that lately I’ve been afraid to spend any money, like on bills. I’ll wait until the last possible second to pay just because I don’t want to pay. Yet, if something at the store is less than $10, I’ll probably buy it. Which is stupid, because an electricity bill of $200 is way more worth paying than a bunch of gadgets at multiple times that cost less than $10 but by the end of the month total $200. See what I mean? I’m so afraid of not having any money that I neglect to pay larger bills but waste money on a bunch of smaller ones.

If I’m going to be a hoarder, I would prefer to hoard savings accounts. I don’t see how I could go wrong with a bunch of savings accounts or a bunch of money in savings accounts. I think I’m going to make a point of paying my large bills early (and not when faced with disconnection) and stuffing everything else into my savings account at ING.

Would make more sense. Until then, I’ll refrain from saving hot sauce packets and spending my money on cheap things just because they’re cheap.

Posted in Financial Goals, Purchases, Savings, Things that are Probably Just Weird | Tagged | 2 Comments