Keeping SCORE (My Score: 514)

As stated in the title I'm keeping score and they are too. You remember that cell phone you let get turned off and u simply went and got another one without paying the balance on the first one? It just hit your credit report and brought down your score. That credit card you MAXED out and said. "oh forget them they have more money than they need". It just hit your credit report and lowered your Fico Score. Everytime you're more than 30 days past due on a credit account it is reported to Equifax, Experian or TransUnion or all three. It just depends on who that company can afford to report to. Smaller companies normally report to one, larger companies report to all. I don't know enough about all this to go into detail all I know is my score is 514 do you know what that means? IT MEANS I CAN'T BUY BUBBLE GUM ON CREDIT! (thats why I'm disgruntled!) I can blame it on society, da white man, I can blame it on the rain but the blame falls soley on my shoulders, I did it, I made this mess. Now I had some help from an even dumber then me about finances Ex Husband and a Disgruntled uneducated about finances single mother, but at the end of the day that score belongs to me.

So here's the only tip I can give; Pay your bills on time, if you can't pay the balance in full when the bill comes then For GOD's Sake DON'T CHARGE IT, that means you can't afford it.
Keep track of what's on your credit report disputing any descripencies.
For more detailed tips and advice check out my favorites over there starting with Single Ma, she even answers yalls emails.

*This Information was taken from My FICO Score to read the entire article please go to that website.*

FICO Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining your score

These percentages are based on the importance of the five categories for the general population. For particular groups - for example, people who have not been using credit long - the importance of these categories may be somewhat different.

Payment History
Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance company accounts, mortgage, etc.)
Presence of adverse public records (bankruptcy, judgements, suits, liens, wage attachments, etc.), collection items, and/or delinquency (past due items)
Severity of delinquency (how long past due)
Amount past due on delinquent accounts or collection items
Time since (recency of) past due items (delinquency), adverse public records (if any), or collection items (if any)
Number of past due items on file
Number of accounts paid as agreed
Amounts Owed
Amount owing on accounts
Amount owing on specific types of accounts
Lack of a specific type of balance, in some cases
Number of accounts with balances
Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)
Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)
Length of Credit History
Time since accounts opened
Time since accounts opened, by specific type of account
Time since account activity


Your score considers both positive and negative information in your credit report.
Late payments will lower your score, but establishing or re-establishing a good track record of making payments on time will raise your score.

1BrokeSista
*Peace 2fingas*

I have a plan do YOU have a plan?

Ok, Ok I've got my wig back on and in place and I've settled down.

I'm not getting any older and no matter how hard I try my children are getting bigger (I tried to stop em!) The economy is on the verge of collasping (my opinion) Gas is off the charts and the price of food is right up there with it. Seeing how the world around me is changing I had to come up with a financial plan so we (me my future broke and disgruntled husband and my broke and disgrutled kids) can SURVIVE!

"Hi, my name is 1brokedisgruntledsista and I'm a Shop-A-Holic and I'm in Debt"
The first step is admitting that there is a problem and in my case it's ME!


I've learned the painful way that if it's on your Ass then its not an ASSET. Armed with that knowledge I had to develop a plan to get out of debt and stay on the reformed Shop-A-Holic wagon.

Step 1
Realize what matters most in life, everyone's different different values drive different desires. To me being a good steward with what God has blessed me with is what's most important, glorifying Him with what He has given me is my #1 top priority. I can't glorify Him if I'm constantly focused on buying me the latest (knock off) of the new hot styles. This is what started me on the road to recovery as far as shopping goes.

Step 2
Develop a plan! "If we fail to plan, we can plan on failing" I don't know who said that but it works for me so here's my plan:

I started my emergency fund a few months ago and reached that in no time just by cutting out my emotional shopping. Baby steps, I set the fund goal at $2000 bucks and we now have a fully funded efund. I do plan on increasing it but I have to get the debt paid down first.

In my post "Ain't worth Jack Spit" I listed my networth and debt, a big chunk of my debt has been eliminated! Thank Ya Jesus!

Here's a breakdown of a large part of the remaining debt. *This isn't all of it...I'm taking baby steps*
Keep in mind all of these accounts have been turned over to collections so my poor credit score is exactly that POOR!

Sprint $222.62
University Medical $219.00
University Medical $88.00
University Medical 452.00
SBA $1,712.00

With the van note being eliminated ($250) and I just received a pay increase which will be $311 additional dollars on each pay check before deductions of course. That's $872.00 additional dollars a month give or take. Now being a sister who is NOT going to live above her means I am attacking this debt and getting it out of my life FOREVER!
Since we lived comfortably on the old salary which is still the current salary until Aug. 1, 2006, we shall continue as if the promotion and raise never happened. The additional funds will be applied to debt and 1brokesista's retirement fund cause I wanna lay on the beach with my girl Single Ma and sip Margarita's when we retire!

Track my progress! I give myself until Jan. 1, 2007 to get rid of the 5 bills above. I'll keep you posted and the elimination begins the first paycheck the new salary kicks in!.

Peace*2fingas*

Break it on Down

Well a couple of weeks ago I posted how I wasn't worth jack spit!!! (Yeah I thought that title was cute too) Anyway a few things have changed, you see the one that says car loan? Well it is no more! That sucka is paid in full thus far reducing my debt. I'm still back flipping and thanking my Lord.

DebtsMortgages 0
Student Loans $12,000
Credit Card $1,600
Car Loans was $8,000-now $0.00
Other $5,000

Total Debt $18,600

Now everyone is not going to agree with me taking my financial blessing and paying off the van first but hey, I had to do it. Here's why, I have poor credit and the interest rate on that loan was off the chain HIGH I saved a couple of thousands paying that off first.
*I also gave to my church I didn't just get blessed and didn't bless the house of the Lord*

The actual car note was $250 per month so that money will be allocated toward paying down the debt. Later on or tomorrow I will list each debt and the balance so I can have a running total and high light them red when paid!

As mentioned in my last post I received a promotion meaning a $5000 dollar a year raise, half of that will be invested in Disgruntled Sista's retirement/Roth IRA so she won't be broke and disgruntled in her old age. I wanna be laying on the beach sipping on happy drinks! The other half will go towards paying off all debt until it is eliminated. Then those monies will be saved and/or invested. The plan is to continue living on the current salary.

I have so many things going on in my head I am forcing myself to blog it or write it down (that's my ADD kicking in).
I went to the library since I'm broke and checked out Suze Orman's book "The Money Book for the Young Fabulous & Broke". Started reading it last night and immediately joined her YF&B club. The book is full of wonderful easy to understand and apply advice and the website actually is interactive and it developed an action plan for me according to my circumstances.

I have homework that I'll post here as well. Anywho I need to get busy I got my credit reports and I need to dispute some things on there and the other stuff I need to get busy paying...(I have my ex husband to thank for a lot of that). No need crying over spilled milk he will and shall get his.

A sista feeling kinda good
Still Broke but feeling better
Peace*2fingas*

Welcome Back

I've been on vacation and while on this vacation some very interesting things took place.

Interesting thing #1
Broke and Disgruntled Sista got a promotion along with a decent raise! Thank Ya Jesus!

Interesting thing #2
Broke and Disgruntled Sista got to attend the Black Writers Conference in Dallas...
some of the best money I've ever spent, it got me on track and serious about my writing. Thank Ya Jesus!

Interesting thing #3
Broke and Disgruntled Sista was blessed with a financial blessing and paid off her van! Doing triple flips up the aisle all while thanking my Big Daddy My Lord and Savior Jesus Christ! That's my Boy Fa Real!
*and the urshers fan 1Brokesista cause the heffa done passted out*
I'll break all this down more on tomorrow but I just had to share with everyone.

Peace *2fingas*
1brokesista

Ain't Worth Jack Spit!

Ok so today I thought it would be a cool idea to see just how much I'm worth and as you can see from the title and the numbers below, I ain't worth Jack SPIT!Some of the numbers are slightly off because I don't have th paperwork in front of me it's at home. In future posts I'll be breaking all these numbers down and coming up with a strategy to pay off the debt, increase my net worth, and control my spending. Net Worth
( June 2006 )
Assets
Cash 2,100
Stocks 0
Bonds 0
Annuities 4,132
Retirement 3,500
Real Estate 0
Cars 12,000
Personal Property 10,000
Yearly Income 24,000
Total Assets 55,732

Debts
Mortgages 0
Student Loans 12,000
Credit Card 1,600
Car Loans 8,000
Other 4,000
Total Debts 25,600
Net Worth $30,132

Peace *2fingas*

1BrokeDisgrutled Sista

I've had it up to HERE!

Hi,
I've been lurking around in the blogosphere for sometime now; reading and commenting on blogs that or focused on finances, debt, investing, budgeting, etc etc.

I have my favorites and I thank each individual for taking the time out to open up the most sensitive part of their lives to the internet world. Thanks for showing me that I can obtain financial freedom and live a debt free life.


People perish for a lack of knowledge...
That statement has never been so true. I had no one telling me Sista save your money, Sista, pay your credit card bills on time, Sista investing is the key to wealth. Sista..."If its on ya Ass then it's not an Asset".

Well it's a brand NEW day because Sista is not going to waste another moment sulking over past (last week) bad spending habits. I'm going to objectively look at the amount of debt I've accumulated over the years and actively eliminate it with a relentlessness that resembles that of the Terminator!

I am DISGRUNTLED so please please please people don't leave me dumb ass comments! *You have been warned*

Since I've never been one who's partial to really expensive designer clothes I don't think I'll have a problem with that aspect of the recover but I am a on the wagon Clearence and Sale Shop-a-holic! I am!...I never buy anything full price if it's not on sale or I don't have a coupon for it I don't buy it. But ohhhhhhhh don't let me fall into my favorite clothing store and they have a sale going on....Like Young Joc says, "Meet me in the Mall it's going Down"! Guarantee it's going down.

I am no financial guru, as a matter of fact I HATE MATH! I can count and I can calculate interest oddly enough, but I will be pulling and learning from other professionals and people who should be professional, like Single Ma and her Fabulous Financials. That Sista is Fabulous Fa Real. I wanna be like her when I grow up financially. Anyway I need help yall cause Momma Broke and Disgruntled didn't teach me Jack about handling money.

Until Tomorrow
Peace *2fingas*