First Three Steps

iVillage Member
Registered: 02-11-2006
First Three Steps
Tue, 09-18-2012 - 3:54pm

As I posted below in my "intro" I have $32,147 in debt, which includes 4 CCs and a hospital bill.  I have decided to break that down into five separate steps, to keep my motivation high.  Step 1 will be paying off the smallest credit card $1665.93.  Step 2 will be the hospital bill $4587.87, and step 3 will be the next smallest CC $4222.43.  The hospital bill is larger than the step 3 CC but emotionally I really want that hosptial bill gone.  I will tackle the larger 2 CCs later. 

So how do I calculate a timeline of how long each step will take?  I hope to get step 1 done by the end of October.  My husband gets paid twice a month, and I get paid weekly (although he makes way more than I do :smileywink:)  In the past, I've been really aggressive at paying down CCs but then run out of money for regular bills.  I'm not very good at this and need all the help I can get!



Community Leader
Registered: 08-25-2006
Fri, 09-21-2012 - 1:52pm
Oh my dear, give yourself back that $20 every two weeks. You may save it up for a bit to get something you want, but take it!

If eating out is your treat, then maybe use it to eat out with a girlfriend.

I am not a big shopper, either. I also don't get pedicures or manicures. But I do enjoy my friends!

Even if you take the fun money and still find yourself not spending it all, you can always use it towards something a bit more practical that maybe wasn't originally in your budget.

Maybe instead of getting yourself $30 shoes, get $50 shoes. Save it and add to your normal hair budget and get a full wash cut and style somewhere nicer.

Or whatever the case may be that works for you.