I am so disgusted with this debt! I was thinking about it and I have no clue what we bought with this debt so obviously we didn't need it. We are paying over $1000 a month to our credit cards, what a waste. I can't wait until it's paid off, I'm hoping my husband gets a good bonus this year and that can jump start our pay down. I can't imagine the freedom we will have with that extra money each month! What would we do with it? Hmmm, I think the first thing is raise my husbands % contribution to his 401k. Have enough savings to live on for 6 months. And then probably work on paying our car loan off.
My husband and I already decided that this year our Christmas gifts will be budgeted much better. And I have a few ideas of cheap gifts I can make this year for people, I'll post that later! The good thing is our little ones don't know the difference of "how much" yet. they will be happy with anything :) Our oldest one will be the hardest to buy for, he's almost 10 so he's stuff is getting expensive. See if we were debt free this would be soo much easier! We would still budget but it wouldn't be as tight!
I'm just tired of being in all this debt. Nothing left to do but get rid of it :)
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Mare, when I reached my turning point, I was overwhelmed by my debt just like you are. It seemed I could never make any progress on the debt payoff, no matter how much money I made. What helped me what to put all my numbers in a snowball type calculator and get my debt free date. Then I started to work with the numbers to see how much faster I could pay it off.
Playing those little games helped me pay it off so much faster!
Good luck :-)
We are right there with you. It does suck, but look at it this way - you have hit that point where you are looking toward the future to get it paid off. There are some people out there (a lot probably) that are still just adding to their credit cards... Every month, you are a step closer & if you just track it every month.. you will see the total go down *hopefully. (mine actually went up the past 2 months, b/c things were very tight & we didn't have an EF in place)
You will get there -- good luck with your journey & you know you have all of us out here routing you on:)
Canadian saver, that's a good idea! I think I'll try that and see what I come up with.
jpkittie, that's true at least we aren't using them but then again we really are up to our limits on them anyways.
Thank you both for the support!!!
Mare, me too. I am tired of debt. I just want it all to be gone. I have plans in place, but sometimes... I just get frustrated with it all and want to start over! The good news is, we are always moving forward no matter what and are learning skills we will use for the rest of our lives!
I'm with you Mare, I'm so tired of this debt. But at least you are aware and making efforts to get out of debt, which is fantastic!
Sometimes, I get so sick of it, I find myself falling into old, bad patterns of behavior. You know, the old "we'll always be in debt, so what does it matter" kind of thinking. I work VERY hard not to fall into that place...it's dangerous.
I think being on the edge of the tiredness, is a good thing - it sets us up to be more focused. Right now, I'm in focus mode, too. :)
I hate having the credit card debt. We had started snowballing our debt and had paid off a few things, but then we needed to save as much as possible to pay for fees and permits to put a modular on land. With the economy the way it is right now, it scares me a little, even to have the $5000 worth of credit card debt we have now. We have decided that cash will be king this Christmas. We have 3 kids and each will have $100 spent on them. The little ones don't even notice and we've explained it to our 10 year old. I am trying to get them as much as I can on clearance and sales. Other family members will get homemade gifts and cookies and candy.
After the new year, we will be have quite a bit extra. According to my excel spreadsheet we would have over $400 to put either in savings or on credit. I vote for the latter. With our income tax we would like to pay off all our remaining credit card balances. Then we will just be left with a mortgage of $720 a month, a $280 van payment and a student loan that is currently in deferment. I can't wait to get out from under the debt!!!
Lisette
http://couponqueenofcorning.blogspot.com/
I hate having debt too. I hope your husbands bonus is big and helps you make a dent in it. I'm waiting for my husband and I to do our taxes. Our refunds will go directly to the debt..