PrincessGrownUp
Earning My Ears
- Joined
- Jan 3, 2013
- Messages
- 65
Thanks everyone for pushing me to do a budget, I'm going to work on it this weekend! I really want to try tracking every dollar spent also, but I can't imagine breaking down my Target and Shoprite receipts (the only 2 stores that I shop at).
The good thing is that you stopped using your cc. So your not accumulating new debt. A budget will help you - put down your income and the bills that you pay each month such as daycare, etc. then your gas budget and your food budget. If you tend to eat out a lot by cutting that down will help a huge amount. Once those 2 cc are paid off - roll those minimum payments over to the one cc to pay extra towards it. It may only be $20 extra month - but you will be surprised how much that will help. You will feel a relief just having those 2 cc and furniture loan off your back! And you should be proud of yourself when their paid. That means in 2016 you were able to pay off a total of $3390! That is HUGE!!! But also remember that Murphy will visit and set you back at times - don't let it derail you. We all get hit with Murphy - sometimes multiple times in a month! Just stick with us - vent when you need to and celebrate those small successes![/QUOTE]
Thank you for your encouragement! Sadly I'm paying for the 2 store cards with my Christmas bonus, so no extra cash to go towards my cc's for the next month.
At least when the furniture loan is paid off, I will have an extra $100 a month!
Unfortunately, Murphy visited last month and we were forced to put our dog to sleep. That was the worst $450 bill we ever had to pay.
I often get discouraged, too, when things don't work out on the paper (software) budget and want to stop. But, if you can spend it in real life, you can allocate it in a budget first... It may not look pretty, but it will still help. First of all, it may be that you can shave off some money somewhere, maybe groceries or something. If you aren't tracking your expenses, then maybe you're spending more than you think you are (this happens to me all the time!). You never really know until you're documenting it in some form and analyzing it. Look at each and every bill/expense area and see what you can do to shave something off... Using less gas, spending less on lunch supplies, etc. finding an extra $30 will help!
Once you do this, if you find there truly is nothing left over, then the next step is to see how you can raise more money. Some people get a different (higher paying) job, add a second job, start selling things around the house, etc. Every penny that you were paying on the smaller cards and furniture loan (once it's paid off) can be rolled over into the smaller of the bigger cards, while continuing the minimum on the larger one, and then once that is done you can roll all of that over to the last one. Plan on your tax refund going towards this each year until it's paid off. Or, adjust your withholdings so you won't get a refund, and use the extra each month to add to the balances.
Once you sit down and plan all of this, hopefully you can see the light at the end of the tunnel and this won't seem so daunting. Mr. Money Mustasche, my favorite money guy (his blog is more about finding satisfaction in life without "stuff") talks about addressing debt like your hair is on fire. So, if you keep that attitude, along with some changes like eating a lot of beans and rice, maybe this won't take nearly as long as you fear.
You have a great attitude, now just have faith in yourself that you can do it![/QUOTE][/QUOTE]
Thank you so much for all of the helpful information!!! The other day I was looking for some inspirational blogs, so I appreciate the recommendation.
By reading this post, I'm starting to realize that every little dollar matters. On my high interest cc, I'm going to change the automatic payment from minimum and add $10 (for now) to that minimum. That would make me feel better!
Give a budget a try! You might be surprised by how much it helps. DH and I were living paycheck to paycheck and I thoughy budgeting was useless for the same reasons you do. Actually budgeting it out and planning where our money goes each week definitely helps. We're still struggling a bit, but last Friday when my husband deposited his check, we still had money in our bank account!
YNAB is recommended on here a lot. You can try a free trial for 30 days to see if it makes any difference for you.[/QUOTE]
Thank you for the suggestion, I'm going to check it out!
Haha! I've lurked on the budget board quite a bit and I know it can be a scary place. Lol.
Thank you for the encouragement! I'm excited to check in here and also read all of the inspirational posts. Thanks for the eBay advice!
We have a semi annual kids consignment sale nearby and I do really well (I can't wait until the next one)! It's a ton of work but I make good money on my items. I wish they were more frequently. I tried the Facebook pages but I got tired of no-shows and people haggling their way to almost free. I think I might give it another shot though. Thanks!!
Thank you for the warm welcome! When we get our tax return, it will cover the entire furniture loan. So that should be paid off by Spring.On the 2 high balance CCs, I'm only able to pay the minimum. Since being in debt, I haven't done a budget. I haven't done one because I stopped over spending and using my credit cards and also it seems like, I get paid, pay day care and after school care, pay the minimum on my CCs, fill up my tank, buy lunch supplies for the week, then it's gone!
Thank you for the suggestions. It's so hard when you're so determined to do this but the funds aren't there. Everyone around us is claiming bankruptcy and forclosing. I never want to do that. We got ourselves into this mess, I want us to get ourselves out!
The good thing is that you stopped using your cc. So your not accumulating new debt. A budget will help you - put down your income and the bills that you pay each month such as daycare, etc. then your gas budget and your food budget. If you tend to eat out a lot by cutting that down will help a huge amount. Once those 2 cc are paid off - roll those minimum payments over to the one cc to pay extra towards it. It may only be $20 extra month - but you will be surprised how much that will help. You will feel a relief just having those 2 cc and furniture loan off your back! And you should be proud of yourself when their paid. That means in 2016 you were able to pay off a total of $3390! That is HUGE!!! But also remember that Murphy will visit and set you back at times - don't let it derail you. We all get hit with Murphy - sometimes multiple times in a month! Just stick with us - vent when you need to and celebrate those small successes![/QUOTE]
Thank you for your encouragement! Sadly I'm paying for the 2 store cards with my Christmas bonus, so no extra cash to go towards my cc's for the next month.
At least when the furniture loan is paid off, I will have an extra $100 a month! Unfortunately, Murphy visited last month and we were forced to put our dog to sleep. That was the worst $450 bill we ever had to pay.
Thank you for the warm welcome! When we get our tax return, it will cover the entire furniture loan. So that should be paid off by Spring.
Thank you for the suggestions. It's so hard when you're so determined to do this but the funds aren't there. Everyone around us is claiming bankruptcy and forclosing. I never want to do that. We got ourselves into this mess, I want us to get ourselves out!
I often get discouraged, too, when things don't work out on the paper (software) budget and want to stop. But, if you can spend it in real life, you can allocate it in a budget first... It may not look pretty, but it will still help. First of all, it may be that you can shave off some money somewhere, maybe groceries or something. If you aren't tracking your expenses, then maybe you're spending more than you think you are (this happens to me all the time!). You never really know until you're documenting it in some form and analyzing it. Look at each and every bill/expense area and see what you can do to shave something off... Using less gas, spending less on lunch supplies, etc. finding an extra $30 will help!
Once you do this, if you find there truly is nothing left over, then the next step is to see how you can raise more money. Some people get a different (higher paying) job, add a second job, start selling things around the house, etc. Every penny that you were paying on the smaller cards and furniture loan (once it's paid off) can be rolled over into the smaller of the bigger cards, while continuing the minimum on the larger one, and then once that is done you can roll all of that over to the last one. Plan on your tax refund going towards this each year until it's paid off. Or, adjust your withholdings so you won't get a refund, and use the extra each month to add to the balances.
Once you sit down and plan all of this, hopefully you can see the light at the end of the tunnel and this won't seem so daunting. Mr. Money Mustasche, my favorite money guy (his blog is more about finding satisfaction in life without "stuff") talks about addressing debt like your hair is on fire. So, if you keep that attitude, along with some changes like eating a lot of beans and rice, maybe this won't take nearly as long as you fear.
You have a great attitude, now just have faith in yourself that you can do it![/QUOTE][/QUOTE]
Thank you so much for all of the helpful information!!! The other day I was looking for some inspirational blogs, so I appreciate the recommendation.
By reading this post, I'm starting to realize that every little dollar matters. On my high interest cc, I'm going to change the automatic payment from minimum and add $10 (for now) to that minimum. That would make me feel better!
Thank you for the warm welcome! When we get our tax return, it will cover the entire furniture loan. So that should be paid off by Spring.
Thank you for the suggestions. It's so hard when you're so determined to do this but the funds aren't there. Everyone around us is claiming bankruptcy and forclosing. I never want to do that. We got ourselves into this mess, I want us to get ourselves out!
Give a budget a try! You might be surprised by how much it helps. DH and I were living paycheck to paycheck and I thoughy budgeting was useless for the same reasons you do. Actually budgeting it out and planning where our money goes each week definitely helps. We're still struggling a bit, but last Friday when my husband deposited his check, we still had money in our bank account!
YNAB is recommended on here a lot. You can try a free trial for 30 days to see if it makes any difference for you.[/QUOTE]
Thank you for the suggestion, I'm going to check it out!
So happy to hear you feel safe from judgement here. Of course, we'd all be filthy hypocrites if we tossed any around, so...
It always sucks hard at the beginning when you've added up everything you owe and then you feel like it will take an eternity to become debt free...we are here for you.
Good job tallying everything up and it sounds as though you have a good plan in place to tackle it.
I'd like to echo some of the others in saying that you might want to consider doing up a budget. Even if you can't make any cuts to it right now, having one makes you feel more in control of your finances. It helps to combat that helpless feeling that comes when you first take ownership of all your debts. Just something to think about.
As to what will sell on ebay...try anything and everything! I've been shocked at some of the stuff that has been bought/sold over the years. And I think the time investment is worth it if you are able to make some money and pay down that debt.
We'll be here for the ups and downs so pop in whenever you need us.
Haha! I've lurked on the budget board quite a bit and I know it can be a scary place. Lol.
Thank you for the encouragement! I'm excited to check in here and also read all of the inspirational posts. Thanks for the eBay advice!
We have a semi annual kids consignment sale nearby and I do really well (I can't wait until the next one)! It's a ton of work but I make good money on my items. I wish they were more frequently.
I tried the Facebook pages but I got tired of no-shows and people haggling their way to almost free. I think I might give it another shot though. Thanks!!
but we had a great time riding around, enjoying the sites. No one wanted to check out Swan or Dolphin but that's on our list for another time.
