Debt Update 11.30.09

Yesterday I went ahead and paid off Loan 2 which was $414. Hopefully when I get my next unemployment check I am going to put that money into my checking account and everything will be ok. In addition, I'm skipiing my car payment this month. Every year our credit union gives us an option to skip December if we want, without any penalty. Check with your credit union who knows perhaps you can also skip it for a month.

As of 11.30.09 Debt balance

Car loan: $12, 049
Student Loans
Loan 1: $14,300
Loan 2: Paid Off
Loan 3: $921 I'm planning to pay this one off during December as well.
Loan 4: $9,280

Total debt: $36,550
Total debt as of jan 08 was: $66,970
I've managed to pay off $30,420 so far..Still $36,550 to go..
Once I pay off Loan 3, I'm going to focus on Loan 1 because interest rate is around 10% for the loan. Loan 4 has 4% interest. Car loan is 4.5% which is not bad at all.

Debt situation and unemployment

As you can see on the right side, I have student loan debt and car loan. I've just paid my car loan for this month which is $655. It is alot. I have little bit of rainy day fund but not alot (around $5K). I am definetly counting on my unemployment check to survive. Yesterday I checked with EDD, their automated system said check for $950 was mailed out on 19th. I should probably get it either Saturday or Monday.

As far as my student loans go, I want to keep paying which is around $700 per month.

$700 student loans

$655 car loans

total $1,355

EDD check $1,800 monthly

I need to live on $500 per month.....but HOW?

What is good about unemployment?

What is good about unemployment? Now, I have TIME to do things I never had time before. Since Oct 20th,

• I finished knitting two scarves both are going to be given as christmas presents to my friends.
• Finished reading three books which I've been trying to finish just one of them since January.
• Finally I set up my herb aerogarden which I purchased 6 months ago and never had a chance to set up since then.
• I'm working out twice a day. In the morning and at night. Before I know I hope I'm going to lose 15lbs. (it is painful)
• Trying to start my own accounting practice. Actually now I can sit down and brainstorm, plan out things.
• I started a new blog besides this one which is totally my passion so I hope it's going to take off soon because I spend many hours on it.
• Finally I have time to study for CPA exam.

It is all about seeing the glass half full not half empty...

Plans for this weekend

Tonight I'm going to learn country dance and ohh by the way I live in Orange County so country dance is not something everyone knows. I like experimenting things in life. We shall see how it will turn out. Saturday, I don't have any specific plans. I probably need to clean, declutter my house and study for cpa exam. Sunday one of my couple friend is actually coming down to visit us very first time so I'd like to present our place in best possible light. :) Also this weekend I'd like to think about what kind of things I've learned from the last job I had and what I can improve. Time to time we all need to look at a mirror and self criticise ourself constructively. We are often eager to blame or cricise others first. I want to be able go beyond that and find things I can improve and become a better person.

Finally First Unemployment Check Arrived

Today I received my first unemployment check $475. It only covers 1 week. Some reason EDD doesn't pay for the first week of unemployment instead they start paying from the second week. The checks are suppose to arrive weekly for 52 weeks. Well, hopefully I'm going to find a job before then. It all started Oct 20th...I got laid off and applied for unemployment Oct 24th. Filled out the online form and pushed submit. Waiting period has started..On November 2nd I received a letter from EDD explaining my weekly benefit amount and claim form. I completed the form and mailed it on Nov 3rd. Today is Nov 12th and my check finally arrived. After long 23 days later. In the mean time, bills are coming! No one is waiting for 23 days to send a bill right? They dont know, they dont care. All they want to get paid. Fair. If we didnt have my husband's salary, I don't know what we would do. Now, the first check arrived with another claim form which I need to mail out tomorrow. I am just hoping that this time it is not going to take them so long to mail my check.

What do you do with flakey friend?

Seriously, what do you do with flakey friend? She thinks now unemployed, I have sooo much free time on my hand. Therefore she keeps rescheduling our lunch meeting in last minute for 3 times. I think it is very disrespectful. The thing is I don't even believe her excuses at this point. I might stop seeing her. I mean how could you make an appointment with someone and cancel it three times. Insane. Do I want to keep that type of person around me? Well, what I know is I am so mad that I am not going to schedule anything with her for a loooong time..That is what I know for sure.

Here I am...

After getting laid off on October 20th, I went through many emotions...I consider myself generally positive, optimistic in life. Therefore, I decided to take high road not the miserable one which is sitting, crying and asking why it happened to me not others. Just like many others I also have financial responsibilities: car loan, student loan.. In coming days, I'm going to share about my journey of making most out of unemployment..