Hoping to get some support as I attempt to rid myself of my debt. I figured that the best thing to do is be honest with myself and others as I work this out. I am a 32 year old teacher (will begin my 2nd year of teaching at the end of July). I am also a single mom to one son, age 9. I’m most concerned with my credit card debt. That alone totals almost $44K.
That does not include my student loan payments (I finished grad school last year and have consolidated those loans along with my undergrad loans which total somewhere around $70K) nor does that include my car payment. Both of those I could easily handle without the credit card debt so that is my first battle! I’ve read time and time again that I should pay off the lowest amount first and then apply that payment to the next card so that is ultimately my plan.
I guess I just need the support and listening ear of people who know how hard it is NOT to use those credit cards…not to overspend…not to eat out, etc… It’s going to be a step by step, day by day thing for me and I want to be able to celebrate each day that I go without doing those things! I hope that I’ve found the right place!
There is support here and sometimes some heated discussions, but in the end, we all want what you want. I encourage your to stick with-it, it is hard.
I have taken to putting my cc’s in a drawer at home and not carry them; that way I cannot use them.
Several people here (me included) recommend Dave Ramsey’s “Total Money Makeover.” It is an easy to read book and has some excellent resources. I do not necessarily recommend paying for all of his resources (not cheap) off the internet.
Again, Welcome and keep us informed, we would love to encourage you. And no, I am not out of debt yet myself!
I am 45k in debt besides my car payment and I can’t make my cc payments anymore. I did sit up a budget and even paying 300.00 less than my payments it still HARD. I am taking baby step everyday. I did contact my creditors to set something up with them but they said they could not do anything until I was late in the payments. my first step is to get rid of the cards if I don’t have them then I can’t use them. Started counting the loose change now and shopping at the dollar store.