Face the Music

Stage one. Face the music. I have been here many times. Often I am hovering over this step, looking down, knowing what needs to be done but never touching down and DOING IT.

I have been a faithful reader of Kevin's No Debt Plan. Kevin provides a no non-sense approach to personal and financial development. Step #1 of his no debt plan outlines what is needed to begin. As indicated this is my biggest hurdle. I have been here many times. I have even surpassed it a few times. But I always fall back for some reason or another. Today it stops. Below is a quick outline of my financial situation:

Monthly income/expenses

Net Income 2300
Net Expenses 2100
Left Over 200

Assets and Liabilities

Assets
Checking 70
Wamu Saving 10
ING 5

Liabilities Amt Monthly Min
Credit Card 1 3000 129
Credit Card 2 2000 30
Collection #1 700 300
Collection #2 200 40
Collection #3 200 50
Student Loans 9000 0

Additional background: This is a rough start. Over the next week I am going to really analyze where I am at including interest rates, payment terms, and my budget. Also both credit cards are closed and no longer in use.

I am very detail oriented. Often that tends to get in the way as I spend to much time finding the "best" and most detailed way to complete the task. I'm currently searching for a K.I.S.S. approach to starting the process. Suggestions???

My Situation

I will briefly describe my overall situation.

Name: Withheld - Not sure how my family is going to feel about thi

Age: 29

Gender: Male

Martial Status: Divorced

Kids: A beautiful 2 year old daughter.

Financial Status: Broke, always. In debt, still. Seriously. I am going to publish a separate post outline my starting point.

Work: I work 4 part time obs that equal about 50 hrs a week. Currently my primary job is a Site Supervisor for a private contract security agency. I also work part time for a university doing security, part time for the U.S. Census, and part time tutoring at the local community college. I am returning to college next semester so likely I will reduce my hours at one or more positions.

Living Situation: Currently live with my girlfriend and a roommate. We rent a 3 bedroom house from my father who graciously allows us to pay a sub market price. The house could go for $1200 and we pay $700. Our utilities and amenities equal less than $300 per person. WHY AM I STILL BROKE???

Financial Plan: Don't have one. I have started off many times on a sure fire path just to end up with zero dollars in my account. I hope by writing it out each day I will be able to focus on my goal and at the same time help others do the same.

First Post, Sugjestions

Well here we are. I have decided to start a blog about what I am learning regarding personal finance and at the same time hopefully provide useful information for my readers. A "personal Finance for the Real Dumb" A candid, and often PG-13 window to what I am trying to do with my personal finances and more importantly life. I look forward to comments, questions, critiques, and the occasional well worded insult.

We all know the basic principles of personal finance. Budget, emergency savings, no debt, yadda, yadda, yadda. So why if I know this am I in the hole, living paycheck to pay check, fending off the occasional collections call, an in general struggling? I don't know. But I am working on finding out. And I am going to share it.