Sooooo I am in pretty big debt which is really upsetting considering last year I was debt free minus my car and home. I have no idea how I got into this hole really. I would love to say I bought some really cool stuff or took a exotic vacation but sadly it is not true.
So the goal is to get myself out of this hole. I would like to do it in 24 months unless I am crazy. I would like to have a nest egg with 6 months of expenses and also pay off the 15,000 dollars I now have on my home LOC which was credit card debt.
So it is time to get serious. No credit cards at all unless it is a REAL emergency. Cute shoes on a major sale is not an emergency.
I need to find joy in the things that I already have as far as material possesions and I need to try to enjoy my life in experiences not things.
So lets get started and not worry how i got here but rather work (not worry) on getting out.
how did I get here?
January 20th, 2009 at 03:00 pm
January 20th, 2009 at 03:11 pm 1232464290
January 20th, 2009 at 03:13 pm 1232464382
Welcome! It really doesn't matter how the debt arrived, all that matters is that you're ready to conquer it!
January 20th, 2009 at 03:19 pm 1232464742
January 20th, 2009 at 03:23 pm 1232465032
January 20th, 2009 at 03:55 pm 1232466947
January 20th, 2009 at 04:04 pm 1232467486
January 20th, 2009 at 05:29 pm 1232472587
January 20th, 2009 at 05:40 pm 1232473203
I think it DOES matter how the debt arrived. If it wasn't "cool stuff" or vacations, how did you actually spend the money? I'm asking cus if you don't know how you got in this situation, you won't be able to change the behavior patterns that got you here.
that's one reason why it's a good idea to track ALL your spending for at least 1 month so you get a better handle on where the $ goes. You may have a general idea in your head, but you'd be surprised how much more eating out, say, adds up, or for another person, how much they spent on clothing, whatever.
January 20th, 2009 at 05:49 pm 1232473774
January 20th, 2009 at 06:43 pm 1232477022
Good luck.
January 20th, 2009 at 06:53 pm 1232477618
January 20th, 2009 at 08:03 pm 1232481806
January 20th, 2009 at 10:36 pm 1232491017
January 21st, 2009 at 01:57 am 1232503051
January 21st, 2009 at 04:32 am 1232512356
January 21st, 2009 at 04:42 am 1232512926
January 21st, 2009 at 04:46 am 1232513199
Not sure where your money is going? Get a little notepad and for one month write down everything you spent money on. I mean from a pack of gum to the checks you wrote to pay bills. You need to take charge of your finances!
After one month you can see where the money has gone and make adjustments accordingly. Then you need to see how much you have coming in, how much money you have, and how much debt you have.
Now you have to see where you can make cuts in the budget because you know where the money is going.
Make a budget and have a plan as to where you wqant to eventually be. Only you can do this. It is work but it is worth it. The feeling of being in charge of your financial picture is very empowering!
You can also see about only paying cash for purchases.
Play the game of "no spend days"! That is a game whereby you spend no money on a particular day. The idea is to put as many of these together as possible!
So much info and help is available here and on the forums! You have taken the most important step. You want to take charge of your finances and your life!
OH! Where are my manners? Howdy!
January 24th, 2009 at 05:33 am 1232775207
February 1st, 2009 at 12:52 am 1233449524
February 10th, 2009 at 10:11 pm 1234303878