I would consider myself somewhat of a credit score expert. What I did with my credit score (getting over 100K in credit at age 23) unfortunately didn’t turn out very well for me. That doesn’t mean that you can’t benefit from my mistakes though! Here are 3 free, fast, and easy steps you can take to increase your credit score.

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I'm 300K in debt. Gulp. I'm 24 and day traded away a fortune. Now I'm trying to crawl back to zero. Why not subscribe to my RSS feed and join me on this journey. You can also subscribe via e-mail. I appreciate tips and feedback! ~ DebtKid

I spend way to much money on food. Here’s is my idea to control my spending and stick to my food budget:

Gift Cards

Yep, gift cards.

I’ve heard of the envelope method of budgeting before, but it never seemed very practical. Who carries envelopes full of cash around with them? Yeah, no one.
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The good news about me writing here is that it keeps me accountable, and I feel like I’ve learned a ton about personal finance in the past year. The bad news is that, well, actually there isn’t really any bad news about writing here.

The bad news is how much priority I’ve given to money in my life. For the past 12 months pretty much 24/7 my brain is always thinking about two things: (more…)

OK, I’m not really go to blow some cash tonite. In fact, thanks to this handy $25 gift card I got for Christmas, I likely won’t be spending any cash.

But I am gonna blow this gift card tonite. I’ll probably go catch a movie downtown, and grab a bite to eat…

Still bored,

DebtKid

It costs money to declare bankruptcy. Seems backwards, doesn’t it? You have no money, which is why you’re filing for bankruptcy, yet it costs money to file bankruptcy. There really is not such thing as a free lunch! (and Bankruptcy is no free lunch, let me tell you)

Bankruptcy Costs

The bankruptcy courts have filing fees. Chapter 7’s filing fee is $299, Chapter 13’s filing fee is $274.

Attorney Fees

That’s not so bad, right? Well, hold your horses, that doesn’t include a lawyer! Look, I had enough trouble just filling out the paperwork that my lawyer gave me. I can’t imagine trying to fill out and gather all the necessary paperwork and deal with the trustee all by myself.

When you’re thinking about Bankruptcy, it’s likely you’re very stressed (I know I was…heck, I still am). Most lawyers will have an option to pay their fee in installments. If they don’t….move on.

That said, I wouldn’t recommend the cheapest lawyer in your area either. I’d look for perhaps newly on their own bankruptcy attorney. Often new lawyers will work at a large firm out of Law School for a few years, then strike out on their own practice.

My experience with my lawyer was that although she was younger, she was very experienced (had worked at a large firm for a few years), but not outrageously expensive because her own practice was fairly new. Obviously this is just my two cents, most Bankruptcy attorneys will give you a free initial meeting. Setup 3-4 in a day, and see who you feel most comfortable working with and who is willing to work with your financial situation.

You’re going to end up paying anywhere from $700-$2000 to file Chapter 7, depending on what area of the country you are in. In my opinion having a lawyer severely lowered my stress during this whole process.

You should try to avoid Bankruptcy at all costs!

Are you down because of your debt?

Join the club. Being in debt blows. The past 12 months I’ve been learning to cope and deal with the on-going pressure that debt brings into your day to day life. So far I’ve found a few things that seem to lighten the burden. These are actually techniques I’ve been using that are cheap and effective in handling the stress and emotion of being in debt.

12 Ways I Deal With Debt (all 300K+ of it)

1. Burn Stuff - I’m not talking about burning down your bank. That would get you jail, not relief (well, it might give you some satisfaction). Try a 3-hour firelog, or real firewood. Add in a movie and you’ve got a nice relaxing few hours. There is just something soothing about flames. Also, for bonus points, burn all those credit card offers you still get (just don’t burn the plastic. it’s not safe).
2. Give away your sweat - Do you have a charity or cause that you wish you could give money too, but you just can’t spare a penny? Why not volunteer there? Give them a call and see if you can work a few hours each week. You may not be able to contribute with your pocketbook right now, but that doesn’t mean you can’t help out. Volunteering can also put your life and blessings into perspective. (more…)

I have a pretty big business meeting today. My Plan “A” project has attracted the interest of a pretty large company. They’ve been testing the technology for months now, and finally are going to start paying a little each month to test more. It’s just a small step, but my hope is that I could actually sell the project (to them) at some point this year. This meeting today should give me some answers on what they are thinking.

Time to pray now.

After short selling my home last year, I faced a pretty big problem:

Where the crap am I gonna sleep?

While I avoided the house going to auction, I lost my place to stay. I was lucky enough to still have an office floor to sleep on, and a car that I stayed in a few times as well.

What about the people?

I keep reading about these billions of dollars getting written off by financial companies. What I don’t hear about so much is what’s happening to all the people involved in these loans gone bad. With thousands of family losing their homes…where are they ending up? (not to mention their pets?)

I had a heck of time finding a place to live after my two month “GAP” in housing. I was really quite frustrated with the process. So, here are a few lessons I learned about creative living situations and finding an apartment after a short sale or foreclosure. (more…)

It’s been ages (well, maybe 16 months or so) since I’ve really closely watched a day of trading over in New York. Tomorrow is looking interesting though for the markets.

I’m not trading anymore, but I still have a strong fascination with stocks, the economy, finance, etc.

Anyway, should be a heck of ride on Wall Street tomorrow.

I slept til noon today.

Why?

I dunno, nothing else to do. Really, that was the reason. I went to bed around 1:30, so I didn’t need to sleep til noon to get my 8-10 hours. I just had no real reason to get up. And now, I have business stuff I could do, but nothing pressing. So, I’m bored. No football til tomorrow, my friend I usually hang out with is busy all day…

What can I do on a Saturday in Seattle?

A few ideas I may act on (writing them here should help me get my butt moving)

• Finish my laundry
• Shave
• Get a cheap haircut that is overdue
• Go to walmart and walk around
• and that’s all I got

I’m really not a fan of “down time”. Down time to me right now just equals time when I have nothing good to do. One can only have so much alone time you know? I’d go crazy if I didn’t have time to myself, but lately it’s like, “come on man, really? another 48 hours without seeing another human?”.

It’s not that I don’t have people I could call. I do….somewhat. And there are lots of fun things to do in Seattle, even when it’s raining….but most of them you’d do in a group, you know? I don’t mind doing stuff alone, I do it all the time.

Oh pish, posh. I’m just being whiny now. Sorry you have to listen to this crap. I need food.

It’s something else

And no, I’m not depressed. I’m just bored. I’m bored with my life right now. I feel stuck, and I’m bored. I never had a time in my life where I had absolutely no options other than continuing to do what I’m doing. And that’s where I’m at right now. I have to keep doing what I’ve been doing. Keep working, keep trying to build something I can sell, keep trying to pay the bills….

Frack, I’m 24 and I feel like I’m 40.