I don’t know what is in my energy that is producing the type of dumb money ideas that force me into large money commitments on a monthly basis in 2008. My income hasn’t gone up, but my expenses are exorbitant this year, all because I have too many high-cost projects ahead. The year started out with a bang, and puff puff, when my car apparently had a blown head gasket. Another $4,000 later from various “problems” with the car, and I am now in June averaging an extra – get this – $1500 in expenses per month this year. My budget and my finances are completely blown. This came about also because I had the bright idea to sell my house while I’m finishing up my Master’s degree. Another several thousand later in house fixes and another $3,000 in tuition fees and I can tell you I have no idea how I’m managing to stay afloat. This year has been a WHOPPER, financially, and I wish there were some magic alarm clock that would allow me to hit the snooze button until 2009.
So, I’ve been entertaining the idea of quitting the Master’s with only two classes left to go. I just can’t seem to do it, even though I think spending money on a Master’s is a waste of money and would not recommend it to anyone. I’m too close to the end now to quit, but it may be the thing that puts me on the edge of bankruptcy, when all is said and done. Ask me after I’m finished whether I think it is a waste, and I might have a different answer. Right now, I think monetarily it’s one of my poorest decisions ever. I just don’t see it returning the value that it cost me to get any time soon. Not to mention the monetary stress of having to juggle this while the rest of my life falls apart. Yeah, some financial advisors call school debt “good debt” but I think there are some things that will never pay you back for the aggravation you went through.
So, today I am thinking that I was too ambitious trying to sell the house while finishing the Master’s and trying to make up the debt my car put me in. Now, I am in an even worse position of trying to figure out how to finish the fixes on the house, while paying my tuition, and my normal bills – and losing time on work because I have to be in Colorado at Naropa University for a week for this summer intensive. I kept thinking I should save the tuition, bail out on the intensive, and finish the fixes on the house to sell it FAST. But, I won’t be able to take this required course for another year and I will have to get a special dispensation to take it that late. So, I have to take the course now and screw up the rest of my finances for good. So, what did I learn?
Only Chew Off What You Can Handle
I think the thing I learned is that I should have only had ONE major goal at one time and when I was done with that attempt another. Putting two at the same time causes conflicts. I should not have put the house up for sale while I was attempting to finish this Master’s, it was a recipe for disaster. I don’t know why I didn’t see it before. But, it’s too late now, and I totally screwed myself. No one to blame for this predicament but me and I can only hope that I get smarter later because I’ve shown a propensity for financial stupidity as of lately. For now, the rest of the house fixes are on hold until I can figure out how to handle the tuition payment. I was trying to do them both, but it’s not going to work. The carpets can wait, the tuition cannot wait.
Image courtesy of Flikr Creative Commons by Kenner