In case you can’t tell by my lack of posting in recent months, being chair is taking a lot more time and energy than I ever imagined it would. I will have sometimes 8-10 meetings a week on top of my teaching responsibilities. Trying to imagine doing research on top of this seems an impossible task. I’m thankful for two undergraduates who are especially motivated and don’t need more than a little bit of guidance from me on what to do because they’ve been at it for the past year.

For all the extra cash I’m bringing in (dripping with sarcasm), my financial status hasn’t improved that much. I still have about $14,000 on my credit card which doesn’t seem to ever go away. My emergency fund is slowly depleting as I had to do $700 worth of repairs and maintenance on my car this past month and ran out of money in my car fund for the year.

I’m thinking next year I’ll need to start putting away at least $100 a month for car repairs – compared to the $60/month I’m doing this year. My car will be 10 years old next year and I have started researching new(er) cars. But I can’t bring myself to buy a new car while I still have debt. And I want to buy a new car in cash – which means I’ll need to pay off $14,000 in debt and save up at least $6,000 in cash. $20,000?? That’s a lot of money…

I feel like I’m sinking with my finances right now, and it is frustrating. I want this debt gone more than I can explain, but there isn’t an easy fix and that is frustrating me. I feel like I’m constantly taking two steps forward and one large step back. I hope some day I’ll be where I want to be financially – I just hate knowing it isn’t today or tomorrow – or maybe even next year. But something will have to give soon, this way of life isn’t sustainable in the long run. Period.


6 Responses to Quicksand

  1. jane says:

    good to see you back, keep ’em coming.

  2. SHL says:

    I must admit, I was giddy when I saw a post from you on my reader. πŸ™‚

    I don’t have many words of encouragement because my feelings on my finances are very similar to yours. I guess my encouragement is to let you know your faithful readers are rooting for you!

  3. TeacHer says:

    It’s great to hear from you! I think we all feel financially frustrated sometimes. Right now I’m frustrated with my saving habits. Point blank, I suck at saving. Whenever I get some cash into savings, I find a way to spend it on something. It makes me so mad at myself, but what can I do? I just have to keep trying.

    Anyway, hope you’ll keep us up to date with all your goings-on. I’ve missed you πŸ™‚

  4. Glad to see you back here! I’m not sure if your sister is still living with you, but how about renting out your spare room for cash? If you can get an extra $300-$400 per month (not sure about what your rates are), that’d be $3,000+ you can throw at your debt.

  5. Corina says:

    How are you these days SSFBG? I hope you are well and if you don’t have time to blog, I wish you Merry Christmas and tell you that we miss you:-)
    just a faithful reader:-)

  6. joshuca says:

    I miss reading your posts. I hope all is well!

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