Remember, with every payment you are closer to your goal of being debt-free. Congrats on the bonus! Using that bonus to pay of the cc means you won’t have to ‘waste’ that interest money every month now. It’s as if you just got a monthly raise for the amount of the cc minimum payments that you’ve been making! Just make sure to apply to debt, not new spending. About those fixed payment debts-are those like personal loans that are interest -loaded at the beginning?
If so, then every month means you are paying that much more of the principal. Every month is a ‘bigger step’ than the month before! And 5-10 years will go faster than you think, believe it or not. As you take each month’s step closer, try taking a positive look at how much less debt you have this month than last month. Also, about the size of the house, do what you can to make you house ‘seem’ bigger. Clear out all clutter, sell what you don’t need anymore in a garage sale. Use half of the proceeds to pay off a little more of the debt, put a fourth into your emergency savings, and celebrate as a family with the other fourth (even if it just pays for an ice cream party!)
Every time you save money with grocery coupons or sales, use the $5 or $10 you saved to add to the payment of debt. Make of game of how much you can save, and pay-off.
Take the lead as wife & mom to present the positive of every month a closer step. Be sure to let your husband know how proud you are of him. Debt can load down a husband…
As for living tight, remember that the important thing is that you are together and tackling this as a family. Things don’t matter, the people in your life do. Your commitment to being debt-free will affect your children as well. They will see how you set a goal, took the steps to achieve it, and will soon enjoy the freedom from debt! What a lesson to learn early, huh!
Have a terrific day-I will be praying for you!