So, does anyone have a timeline?
I am hoping that in 2 years the credit card debt will be gone(our car payments too, which will just leave us with dh's student loan and the mortgage). I am finally getting serious about it, cancelled cable and everything
. Luckily for me dh has to have the internet connection for his job
. Right now I feel like there is no place else for us to cut back, and we recently took a few hits that have cooled my fire a bit.
I had hoped that when we sold our rental house (Made $3000) that that would help, but it really just seemed to catch us up. Dh was going to cash in an investment account he has for retirement (I know all the financial people say not to ever do that) but found out that though the value right now is around $6000, we would only get like $3000 or $4000 if we did that, so we realized that really was a stupid idea. Then, there is the fact that we usually get money back on taxes (usually between $2000 and $3000) and this year we ended up paying around a thousand to the government
, and then there was the health insurance hit, we now have to pay $650 a month out of pocket to cover our family, and we owe $2000 for the recent birth of our baby. When it rains it pours
. We know how lucky we are in other areas though
, and we are aware that our debt is our own fault, which doesn't make us feel better, but does make us determined.
Dh is talking about taking a second job, and I don't want to resort to that, b/c the kids will only be this small once, YK? I won't take any out of home jobs right now, b/c this is sadly my last baby, and I am going to cherish every moment, besides the fact that he is nursing and won't take a bottle.
So- at this point it's basically "make ends meet and aquire no new debt". I am going to babysit a 5 1/2 year old for the summer, and then after school too. I also sell some stuff we make on ebay- but that is sooo not a reliable income. I am thinking about starting Usborne book sales. As far as the "making ends meet" right now I am selling off random things on ebay and the TP, and in 2 weeks we are having a garage sale
. I am also asking my brother and SIL to give us a few months off of our car payment to them until dh can get a job with cheaper health insurance.
We have switched our credit cards to ones with 0% interest for the next year(and cancelled the old ones
) so at least our minimum payments make some small difference.
Anyone else ready to share more details? I'd like this to become a "tribe" where we can work towards our goals together and support each other through all this.
I'll tell you one thing, after we pull ourselves out, this won't happen again(which is our reason for not doing bancruptcy-no offense to those that has worked for- we qualify- we just feel we HAVE to do this ourselves!)
Glad you other ladies are here
, I am too embarrassed to talk to RL friends and family about what we have gotten ourselves into