by Hope
I really appreciate the BAD community’s guidance when it comes to listing my house in the best light. But I will say, I never want to have to move out of a house or sell another house as long as I live. The next home…well, it better be the one I plan to die in.
Today I close up the house, leaving it ready for my realtor to sell, and hit the road. I’ve spent hours walking these empty rooms. And doing a fair bit of talking to God and crying. I still don’t know if this is the right decision.
Hope’s house circa Oct, 2023
As excited as I am about the possibility of getting to adventure and travel for a while, this house is home. I made it exactly what I wanted. Saying good bye to it, possibly forever is hard. But I am leaving this is God’s hands. If it sells, I go. If it doesn’t, I come back and I stay.
Debt Update
Needless to say, with the rebuilding of my income and the costs of getting the house ready to sell, I’ve not paid anything to debt the last two months. However, all of my bills are paid including minimum debt payments. I have maxed out my credit cards though. Ugh!
Credit card debt $15,800.
The good news is that if the house sells. That debt will be wiped out immediately. But for now, all open credit cards are maxed out. Minimum payments paid. But there is no room left. (Ok, I take that back, I have about $800 available, but it’s for the most dire of emergencies only.)
If it Doesn’t Sell
The BAD community has been very clear that selling the house is stupid. I don’t agree. I will almost immediately be out of debt (almost completely), be free of the responsibility of maintaining a home that is just way too much for me, and have a real chance to choose what is next for me. (I still have no idea what I want that to be.)
However, there is a very real possibility that the house doesn’t sell. And I am, or am trying to be mentally prepared for that possibility. I don’t think I won’t get offers. I’ve already had a few. But I do have a firm amount I’m willing to settle for.
If I can’t pay off the debt and have a “nest” egg for what ever is next. It does not make sense. And I will see that as a sign that I am supposed to stay here and figure something out. I have kept that in mind with what I’ve done to prepare to sell by not doing anything I would want to undo should I find myself living here again.
But my 3 month term with the realtor is because of this. This process has about killed me, in many ways. And I can’t stand the limbo of what’s next much longer. So I’m giving the house sell 3 months. If it doesn’t sell, I will take it off the market and resolve to build some sort of life here. Again.
This will be my last house post until something actually happens as far it sells or I decide to move back in.
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
In the December debt update, your credit card debt was approx. $6,600. https://www.bloggingawaydebt.com/2024/12/hopes-debt-update-december-2024/ And $2,600 owed to your Dad.
Now it’s $15.8K? An extra $9,200 in debt in 2 months?
You called a ‘no-spend January’ and said you spend the bare minimum on repairs, touch-ups to the house. Your posts suggested like $2,000-ish for ceiling, baseboards, etc.
Where did the other $7,000 go?
She won’t answer because “personal finance is personal”.
The credit card balance growth shows a cash flow disaster. In the context of your personal financial health, talking about all bills being paid really feels like a deep denial. If your debt balance grows over the same period as the paid bills, then bills weren’t paid from a personal budgeting standpoint.
I’m not sure a house sale is enough to fix this situation. You are teetering on the edge of mass default or choosing bankruptcy. I urge you to get informed about Georgia bankruptcy, garnishment and levy rules, particularly around protected assets. Are you sure about giving up the house (likely protected by homestead exemption), could you lose your car?
My car is paid for. I’m not past due on anything and I’m starting to bring in more than a couple of hundred dollars per week again.
Just climbing back out after being unemployed for all of January and a good bit of February (just a couple of hundred dollars per week.)
You’re not past due on anything yet, but you’re teetering on the edge. Even if you get bailed out by the house sale in time, it doesn’t seem like there will be much left over after the consumer debt. Your car is paid off, but is its value above exemption limit for bankruptcy? How does that compare to keeping a homestead exemption? What will default look like for you in possible future scenarios – what if you default, then in a year or so you want to lease housing?
All I’m suggesting is that you try getting more informed before making decisions this time.
I think this is the big point we’ve all been trying to make.
Being financially responsible means you’d have an emergency fund. This all indicates you don’t even have two months of finances put away. At 50, this is not adulting that you can’t do two months of low income without using credit cards.
The fact that you are freelancing and not a real employee with sick time and with variable income makes the situation even more irresponsible.
As a contractor with a spotty employment record the last few years, you should have at LEAST six months.
But if all your bills were paid ahead, as you often repeated, why did you need more than a couple hundred dollars a week? What in the world were you buying during that no-spend month that caused you to max out all your credit cards. Either you are terribly dishonest or you are in such a state of denial that you can’t see the train coming. There is no other explanation that makes sense.
Sorry to hear your debt has gone up so much 🙁 Perhaps Princess will understand if you don’t contribute to her rent these last couple months and she takes out a low interest student loan. I’m pretty worried about you!
Hi Hope,
I have supported your idea to travel as it seemed to make the most sense for your personal goals, as well as financial, if it was pulled off correctly. However, after this, sorry to be frank, it seems to be a disaster. I think you really need to evaluate some of these questions and consider how you will get out of this.
– You have been adamant for months but now ‘you aren’t sure if this is the right thing’? What? You are uprooting your life and becoming homeless (because, yes, that is what you will be, even intentionally) for something you aren’t sure of. Take this with a grain of salt since I’m an anti-theist but God isn’t paying your bills or planning your retirement, you are. You need to take responsibility for your own decisions and use your judgement to decide what is best, not rely on some sign you hope will come.
– You say you never want to sell a home again, but this was also supposed to be your forever home. Frankly, I’m not sure why you can’t pay the minimum on your mortgage and necessary bills whilst travelling and keep it to retire. It seems quite cheap to own, so surely you could cover both expenses?
– You now have $16k credit card debt. Where has this come from? How is this a sustainable way to live? Because yes, if your house sells, it is wiped out. But what if it doesn’t? You need to consider the real possibility that this debt is staying with you, and growing, if you can’t get a handle on your income and spending.
– What do you mean by ‘all bills are paid’ but also, you need ‘$3,000’? What is that money for if everything is paid?
– You seem to think that if the house sells, everything will work out because it will wipe off your debt. But most of your debt has not racked up because of money shortages, it racked up because of poor financial management and unnecessary spending. Hope, I seriously suggest therapy and possibly getting tested for ADHD. You need to get to the root cause of your spending issues. You have not changed your approach in the last few years that I’ve gone back and read. My partner has ADHD and she is just as terrible with money, it’s fairly common. And since it’s genetic, and if I remember, your son has it, there is a high chance you do as well.
Then, some things I’d like to see answered:
– How much are you asking for the house?
– Where is the credit card debt from?
– What is your income? Not predicted, actual.
– What is the plan for your trip for Texas?
Just generally, an update clearing up things people have been asking for weeks/months.
I really wish you the best, but my faith in this plan has drastically declined.
I would also really like to know the plan for being even a part-time live in caretaker for someone who needs constant care while ALSO being the kind of worker who commands what amounts to a six-figure salary. Like what are the actual logistics of that?
A typical day when I’m on mom duty: Work from 3:30am-10:30am, feed my mom, get dressed and do a long dog walk, change mom, prepare food for myself and my dad, work some more, then I typically head to bed around 7-8pm (I try really hard to stay up that late, but sometimes, it’s closer to 6pm). I will read until I can’t keep my eyes open.
I am trying to cut back on calls, in general, due to my hearing, but I currently have 3 weekly calls – Monday PM, Tuesday & Thursday AM – each an hour long.
I rarely handle evening duty because their schedule is past my bedtime, but if needed, I stay up and handle it as well. (Or my dad knows he can wake me up, which he does on occasion.) Her evening routine consists of food around 7pm, change her around 9pm. This is a schedule they have established.
It’s actually not hard at all and mimics what I do when I’m not caring for her.
(I was walking first before it got so cold, but reversed my work and walk times so it’s a bit warmer and the sun is up.)
The most eye opening exercise for me has been tracking my spending. Everyday I update my spreadsheet with my purchases from my bank account/debit card transactions. If I had a credit card I’d include that too.
It’s crazy your credit card balance went up $9,000 in two months. I’d take those statements and put every transaction in a spreadsheet. Then maybe you can figure out where the $9,000 went!