Avoid Bankruptcy

I am often comforted when I find out that I am in some kind of trouble and I'm not the only one. I mean, no one that I know of really likes to be in trouble but it just seems easier to go through it with others or with the knowledge that you're not alone. So let's talk about debt for a minute.

When I was out of college and didn't have a job I still wanted to buy stuff, so what did I do? I got a credit card. Probably not a smart move at the time but technically I didn't know any better. What was worse is that even after I had come up close to my limit the credit card company allowed me to book a round-trip flight that then pushed me over the edge. Now I had not only the original debt that I could only make minimum payments on, but I also just added overage charges and late fees.

I carried this debt, student loans and a car payment into my marriage. When we were first married though we were more concerned about living happily and enjoying the money that we were making rather than getting clear of our debt. All of that changed when we finally woke up and realized that if we wanted to be able to enjoy more of our money that we should pay off the debts first. Then no one would be able to have any further claim to what should be ours. Several years later we are now almost completely debt free. It has taken a lot of hard work and discipline but we're almost there.

Many people in today's economy are facing potential bankruptcy. Part of it has to do with the fact that today's wage just doesn't go as far as it did many years ago. The other part of it has to do with the fact that many consumers today are flat out paying too much money that they don't have for things that they do not need. Does that make them bad people? No. It simply means that they've gotten in too deep for whatever the reasons are. They need a lesson in debt management and how to recover from it.

For those who have trouble doing it on their own let me suggest working an IVA. This is a legally binding agreement between you and your creditors to help reduce your debt, freeze your interest and allow you to pay off the debt more quickly so that you can get back on your feet.

My wife and I have been fortunate enough to be able to work this out on our own but if you need assistance then don't wait until it's too late. Debt can be hard but bankruptcy has bigger black eyes waiting that you might realize.

Don't wait. Do something today.

On The Road Again

I am up north in the Twin Cities for work from today until Friday.

Tonight we got to the hotel and checked in and I did a little bit of work for about an hour and then it was out to hit the town. First stop was supper.

We drove out to Menneehaha park where there was this pretty cool little seafood place that you could choose to either dine indoors or outside on the terrace. There were families eating, kids playing, loads of people riding their bikes. The scenery was really cool and the atmosphere just felt very lively.

When we were finished there we went with a former co-worker to check out his digs. He had purchased a house not too long ago in Minneapolis and he wanted to show it off to us. It was a very nice place, much like many of the houses in the area. Both Minneapolis and St. Paul have tons of older homes from the Victorian style. It was fun just driving around and looking at all of the rich architecture that was poured into these various communities.

The thing that I love about the Twin Cities is that everywhere you go you find people. There are parks everywhere and many of the streets have designated lanes for bicycles. I also love the quaint feeling of driving down the streets of these mature neighborhoods and seeing all of the local businesses that thrive. While there are certainly big corporations that are located here there is still a sense of community and supporting the local small business. This is what truly makes for a good sense of community and economy.

The last stop was this place in St. Paul that was on Grand Ave. It was a creamery that made both their own cones and ice cream. I had been told that it was good, but it was more affirming to see the line of people waiting to receive their cold treats. The line started in the store...and wrapped around and out the door to the sidewalk outside. We probably waited 15 minutes or so to get served but it was well worth it.

Grand Ave in St. Paul is known for its small business and shops along the strip. Four or 5 miles of storefronts and houses that have been converted into businesses keep alive into the evenings with people either shopping or walking around. I love the fact that they didn't come in and bulldoze the homes out of the neighborhood; they recycled them.

Although I probably wouldn't want to live here, it is a great place to visit.

Raising my rates

Over the weekend I had to come to terms with the fact that I am not making enough with my side business to really make it worth anything. If anything, I'm probably actually losing money doing what I'm doing.

If any of you don't know about it, I have my own side business called Custom Computer Works

I do PC repair and consultation. I work with a lot of different issues for residents and businesses.

The trouble that I was having for quite a while was that I wanted to be able to bring in some additional income, but I also didn't want to have to charge people too much for my services. There are so many places around that charge $50-65/hour. I really feel that might be a bit much. And why do I think that's too much? Because I am a miser; a cheapskate! I don't like to spend any more money than I have to, but I guess that life doesn't always afford me that convenience.

So over the weekend I decided to revisit my costs and what I would charge people for my services. I think I've hit a happy medium. I think that I've come up with rates that will put some more cash in my pocket while still being very competitive with my prices.

Now I just have to see what a guy needs to do to build his customer base.