What to Do About This Debt

First cut up those credit cards. If you can't pay cash for it then you can't have it unless all of you bills are paid and the fridge is full. Then go to the library and check out The Total Money Makeover by Dave Ramsey.

Believe me it's hard. We squeak from paycheck to paycheck, car repairs rip us to shreds as well. We started making an effort to save just a little each pay day. Change goes into a jar, The first hour of paycheck you earn goes into a savings account for spending on your daughter at Christmas this year.

Each month you cash in that change and use it to pay extra on the smallest balanced credit card until it's paid off. Then do the next one and the next until they are all gone. NEVER OPEN ANOTHER CREDIT CARD ACCOUNT. You don't need them. You can use a debit card from your checking account for everything a credit card can do and it doesn't have intrest to pay every month.

Now, here's how we live. We have 2 mortgages on our house and the usual utility bills and insurance cost, but that's it. We can barely afford everything but we do set aside that one hour. I thought last year, for what we spent on car repairs we could have made payments all of last year on a car but Dave Ramsey changed my thinking. Now we're setting aside what we could be paying in car payments and at the end of the year, I can buy a car outright and save on insurance as well as depreciation. Find a cheaper rent only if the moving expenses and deposits for it plus the new rent equal less than what you are paying a year right now.

We shop the sales on food, I buy only what I need on a monthly menu and everything else goes into paying off little bills that pop up or stuff for school. Plus we don't go out. TV is our entertainment. Date nights to preserve our marriage are held at home.

I hope I helped.

2 moms found this helpful

For those of you who suffer currently from debt and want to get back on track I can offer a loan that would even be a tax deduction. You must own a home. I do these loans for people all the time and some just take out the money and put it into intrest bearing accounts and even make more money. Review your mortgages about ever 6 mos and check into programs to see if there is a way to lower those payments. You may have several options there. I give great free advice in that area so if anyone has any questions feels free to email me. ____@____.com

I see you have received lots of advice. A penny saved is a penny earned. There is a website that I like www.hillbillyhousewife.com that has great ideas about saving money on groceries.
I work at home for a reputable company and I choose how I want to work. I don't have to leave my kids and I am connected with a lot of great moms that are working at home also. I would love to tell you more, if you want to e-mail me privately. It is good to check in to things and see what is out there. Working away from home usually doesn't pay when you have to pay childcare. I know women that were/are paying to work. I can help you analyze whether you are or not and help you with some options.
R.

I am not sure this helps but transfering your credit cards to 0% and then cut them up so you don't use them. I am so spoiled that I will not have a credit card that isn't 0%. I work in the evenings after my husband is home so we don't have to pay daycare. Honestly, if I had to pay daycare it would not be worth me working. I know this is not for everyone but a lot of hospitals have shifts in the evening and weekends. I love it because I am home all day with my kids and I still get a break. This has also allowed me to work parttime because we save so much on daycare. We have done this for 4 years and it has really worked for us.
Good Luck!
D.

I almost cried when I read your post. My husband and I are going thru a very similiar situation. I could go on and on about it. I am at my wits end as well. I don't know what to do, I can't afford the daycare so that I can work and I can't afford the cost of moving to a cheaper home. Also my husband makes too much money to get any sort of help. I have thought about doing in home daycare, but I would have to do it unlicensced. I don't have much advice on how to get money as I am in the same predicament, but donating plasma can be a good option. ZLB Plasma services is a place where you can donate. You can google it or look them up in the phone book. Unfortunatly I am unable to donate because of health problems but it may help you out. I know that they are open on the weekends too. Keep in touch and let us all know how you are doing.

Hi L.,

I wanted to let you know you are NOT alone. I am a single mother of a beautiful 3 yr. old boy. Last year during christmas, I could not get my son anything. It was very hard for me.. My mother reminded me he would not remember, and that he had a roof over his head, a bed to go to sleep in, food to fill his belly, and all the love he could ever need. It was still hard. I was receiving assistants from food stamps, and daycare, and then I got awarded child support from his dad. I lost ALL the help. I make too much with the child support. I might get a payment here and there. But it is never on time. It is soo hard. And when the payments are on time I pay daycare. It went from $167 a month to $100 a week. I worked cleaning a house for $40.00 a week for a year and a half. It is amazing how much that $40 changes things. 2 months ago the owner told me he was selling the house, and he no longer needed me to clean. It was hard. I have a house, and a car, and lots of debt. I cut my credit cards up, and took a picture of them to remind myself why. There are days, and weeks I cry.. Not knowing how the electric bill will get paid, or where our next meal will come from. I take it one day at a time. It has to get easier. I am very strong willed, and they say pride goes before the fall, and it does. Reach out, to friends, family, and someone who does not know you ( like this site) it helps. Sometimes you just need a shoulder to cry on. :) You need to tell talk whether it changes anything or not. Just tell someone. I have faith that it does get easier. It has to. Right. :) I started cleaning another house once a month, and I mowing my grandma's yard every other weekend. It is an extra $120.00 a month. And I will also do several garage sales. One day at a time. There is a food web site I am trying to get the name of when I do I will let you know. It is wonderful!! Let me know if you need a shoulder!! ____@____.com

J. :)

P.S. I found the web site. It is a great site, and the food is good quality...

http://www.angelfoodministries.com

A few ideas that might help-

Did you know that Super Wal-marts will match any other grocery stores sales! All you do is get all the sales ads- make your list of needs and if they are on sale at one of the other stores then you mark down on your list which store, which product, brand & weight. Then when you go to check out, they will have all the sales ads right there to double check. Most of the time Wal-marts price is already cheaper but if not... well then it is from it being on sale somewhere else! It is great... just I recommend going at a slower time but it will save a ton if you just take the time to do.

My other thought/suggestion is CRAIGSLIST.COM! It is great! I have used it to buy & sell items. Click your state & then your town, then you can search for anything. Also you can post ads for free! I just went through my home & cleared out a ton. Sold my fish aquarium, old couch, some nice pics I had that I didn't want anymore & etc! It's so so easy!

Good luck to you!

I know it's hard at this stage of your life. Can you offer to do childcare on your off hours from work? Maybe you could find another mother that works different hours than you do and trade childcare so you don't have that expense at all?

This is why I do childcare 24 hours per day, 7 days per week. It's a tough world and we've always been in that uncomfortable middle income bracket.

Are you shopping at a cheap stock up store like Aldi's or Save-a-lot? Are you looking for a better job? Can you donate plasma in your area for money? I donated plasma for 10 years and the extra 200 bucks per month really helped out the budget.

It takes creativity to make it. I often wonder how the average person does it! How's your credit shaping up? Do you think you would qualify for some zero percent credit cards so you can transfer these balances and save on interest for awhile?

Can you have a garage sale? Could your husband mow lawns this summer on his off days? There are so many families like my husband and I that simply do not have time to do it. We have a big property and pay someone 40 dollars every other week to do it.

I hope you get a lot of good ideas :)

S.

You might check out www.daveramsey.com My Hubby and I are doing the debt snowball and it's helping us. Good Luck!! I can total relate.

Hi my name is N. and I am a Sales Director with Mary Kay. I would love to share with you how you could make some extra money with a Mary Kay business. You can work Mary Kay around your family. New consultants start out by making an average of $50-$75 an hour, and you are having fun. Let me know if you would like some more information on how to make some extra cash, for those little extras.

Thanks,
N.
###-###-####
www.marykay.com/nbrown5
You can go to my website, and click on about the company to learn more.

A lot of us have been there L.. I started out selling things on Ebay. Of course, one has to be careful of the selling fees and make sure you know exact shipping so that you charge enough in that area. Having a garage sale might net you some quick cash.

I guess my best suggestion would be to save up $35.00 and think about joining Stuff A Friend. I just started with them and so far it's a real hit. Best part is, Stuff A Friend gives you a free website and they handle all the sales and shipping so you only have to send people to your website. Check them out at http://www.stuffafriend.biz/members/koriani or email me at ____@____.com and I'll be happy to talk it over with you to see if it would meet your needs.

I guess you could always get a part-time job but be careful there or you'll throw all your earnings into daycare if there is no family close by to help with your daughter.

Hope this information gives you some ideas! Good luck.

M. :)

Oops, I forgot to mention...have you ever considered NOT working outside the home at all? I had to quit working for a while because it was costing too much in child care. We actually saved money by me staying home.

This is tough. One thing is for sure is to cut the cards whether maxed or not, get them out of site. I would avoid transfering balances to 0% cards because then when the old card is "clean" and you are tempted to use it instead of close it. Trust me, I have done that. After the 2nd time cleaning them up I finally closed them.

What is difficult about your position is that you need to realize that there really isn't a permenant quick fix. Unless you win the lottery or inherit money, you need to get it in your mind that getting truly finacially stress free will take time - and time goes by slow when you are broke.

I beleive many of the suggestions made so far are great and will work as time goes by. I also think if you need a influx of cash right now the garage sale idea is good (as it is spring and the season for them), plasma donation is good idea, mowing lawns and doing evening babysitting are great ideas as they are all things that you can do anytime and can stop at anytime.

The fact you are aware of this and want to do something about it is great. Don't get down as you are not the only one in this situation. Take a day at a time. Remember no matter what keep a positive environment for you child even when the $$ is not there. Your baby really only wants your love and attention, not the latest toys and etc.