A few things I need to be upright about my different types of debt:
- Student Loans: I borrowed more than I should have by no choice of my own. I didn’t have a choice when obtaining financial aid for college and my mother made us to get the max amount in loans to use the extra money as some sort of tax refund for the house. No, not even for savings. Just use and gone in a few months.
- Credit Cards: Not mine... they were opened under my name by my mother and maxed by her. One of them, CC2, I didn't even know it existed (or that it was closed!) until much after the fact. So I have that debt in my name and am determined to pay for it. No, I'm not suing my mother or trying to get remuneration from here, because she couldn't pay me even if I forced her. I am taking full responsibility, even if it isn't quite mine.
- Car payment: I have used that car maybe twice by myself. Mostly my dad uses it now. I still have to pay for it because they can't afford the payments, and non-payments affect my older brother's credit, since he co-signed the loan. And they’re trying to save for a nicer, better home for their newly started family.
Some of my future plans and what I need for them:
- New car: Well, new to me. Currently, I drive a 98 Chevy with 120k miles that I need to keep fixing up. More info on that as it develops. I want (want to be able to afford) a new/new-to-me car by late Spring ’14.
- (Not so much a financial goal, but…) $500 + study time for job-related certification Winter ‘14
- 6 months of living costs: Planning on moving Spring ‘15
Small simple goals, nothing awfully ambitious… (yeah, right, especially not since we’re talking of over $12,000 for the whole moving, and at least $3,000 down on the car). But yeah. Those are our starting points. Then, we will have monthly goals, because my weekly variance is pretty unnoticed.
But yeah. I want to do small snowflakes. Not quite the snowballs, since I wont be able to start those until after I manage to rebuild my EF (Oct ’10). I am really out of ideas as to how to track this, especially since I keep getting surprised with charges I shouldn't have.