Whew. It’s been awhile.
Not sure why I haven’t felt like writing lately, but I have a few theories:
- When I don’t write about what I am dealing with, it makes it seem almost like it doesn’t exist, thus I think about it less.
- I have been pretty busy (but I could have written)
So, I would probably vote that the first reason is why I have not been writing much lately. Every time I thought about it, it kind of gave me a bad feeling, so I just need to force myself through it.
Since my last post, of the debt side of things:
- I worked out repayment on my last citibusiness credit card. Payment is going to be around $112 a month.
- I talked with my 1st mortgage company and can “skip” two payments, Feb. and March. If I can pay January on March 1st. Good news. Then they just roll those two missed payments into future payments over a certain period of time.
- No deals on the 2nd mortgage side of things…just been kind of avoiding them…
- My current “bad debt” monthly payment (not all is “bad”, as $4,152 is my mortgage): $7,406
- My current monthly business expenses: $3,300
Total Cash Needed Monthly: $10,706
Yikes.
Income
Luckily, my advertising packages at work have been selling well. I haven’t been selling as often as I would like, but we are now up to 107 packages. I think the program will max out around 225-250. I will have to spend around 2K a month in expenses on that program once it reaches that point.
Monthy Rental Income: $1,500
Current Monthy Business Revenue: $6,200
Total Current Monthly Income: $7,700
Amount Short: $3,006
Bummer. Once I hit 200 for our advertising program, we will have enough cash to cover basic expenses. Bear in mind though, the above budget does not include my personal expenses for food, clothes, ect. It does cover my insurance, car payment, and some gas though in the business budget.
I’m really probably around 5K short.
I’m spending around 1K a month right now on our advertising program, and that is not anywhere in the above numbers, so business expenses are really about 1K higher.
So, am I going to make it. I keep trying to tell myself I will, but I just don’t know. I know I can get us to 200 packages a month, which will generate 10K a month on the business side. Net of 8K though, add my 1500 and I’m still short or barely brakeven. Also, If I cannot generate enough business for our advertising client’s business…they will cancel their monthy payment, and then I am screwed.
I think that is the biggest thing I need to avoid, once I hit 200. Making sure people stay in the program by giving them great results…I just hope I can do it. I’ve got another month maybe to really get some results before I see mass cancellations…
On my personal side…I’m all over the place. I’ve talked with 1 of my brothers (I have 2) about the situation, and I am due to talk to the other one some time today. It sucked. Takes alot out of me.
It’s also almost valentines day which just makes me think of how I cannot date anyone at the moment, or anytime seriously in the near future…also kinda depressing.
{ 2 comments… read them below or add one }
I have been checking now and then, and no posts to me meant you were busy working on your problems. Much better than to find daily whines – which would take up a lot of time you could be productive.
Good luck.
I think its very admirable that you are even trying to pay off all of these debts. So many others would have thrown in the towel and just given up.
If its any encouragement I sincerely hope that you overcome this obstacle and become a great testimony to others that they can do it also.