New here..

iVillage Member
Registered: 07-13-2013
New here..
6
Thu, 01-30-2014 - 4:21pm

Hi,

I am 28 and married, going through a major rough patch financially and am

hoping to get some useful information sharing stories and tips. My husband and I are both to blame,

however in honesty I do feel that he influenced alot of the decisions made to put us in our bad financial state.

We have alot of  credit card debt, which has now gone into collections(due to a separation and my getting laid off), but

I also have student loans and car loans. It's very hard to stay positive. Any advice with how to tackle everything is welcomed !

Community Leader
Registered: 08-25-2006
In reply to: erin42685
Thu, 01-30-2014 - 6:09pm

Welcome!  You have come to the right place.

As you start to post more often we can offer more detailed suggestions.  But to start, you have to know what and who you owe, how much it costs for you to live and how much you make.

Then you can start prioritizing things, looking at where you can cut back and/or earn more.  Also, start writing down every penny you spend for a good month or so to see where your money is going.  You may be surprised. :)  

Stick around and keep posting!

Serenity CL making a second marriage work

Serenity
iVillage Member
Registered: 04-08-2008
In reply to: erin42685
Fri, 01-31-2014 - 1:00am

Welcome,

I don't have anything specific to suggest except try not to feel "bad". I see a lot of ppl who feel "bad" about debt and it really doesn't help. You still deserve joy and happiness - just not the kind money can buy :)

Dee

iVillage Member
Registered: 07-27-2009
In reply to: erin42685
Fri, 01-31-2014 - 2:52pm

I have been where you are. You are not your debt. Your decisions in the past will not define you in the future.

The best thing that I can tell you is to break it into small steps that you can celebrate. My break-outs are usually in $1000 increments, but it needs to be motivating to you. Also write down what you owe, to whom, and at what interest rates. Total it up. Then just breathe (this is the point where I truly felt hopeless). Set specific deadlines for completing each mini-goal. Deadlines are key, they make dreams into goals. Make them challenging, but attainable. You will slip up along the way, but at least you are moving forward. Just keep moving forward.

Thanks for joing us! Hang in there.

JenAaron.jpg picture by jen2075


iVillage Member
Registered: 07-13-2013
In reply to: erin42685
Fri, 01-31-2014 - 7:16pm

Thanks for the welcome! I am pretty good with putting a weekly budget in place. However, I need to work on writing down what is actually spent in addition to the bills, such as if i grab fast food, have to get an oil change, etc. So much work and I take pretty much full charge of the finances, so it's a bit stressful. I have alot of credit card debt, of which I did just do a settlement to have one paid off, only about 20 more to go lol. I always feel as if I need to restructure my method of operation because its all so daunting. Do you find it better to focus on paying one thing at a time or paying smaller amounts to multiple things ? Any advice is very much appreciated !

    -Erin

iVillage Member
Registered: 07-13-2013
In reply to: erin42685
Fri, 01-31-2014 - 7:20pm

Thanks for the advice. You're totally right, keeping track of the amounts owed, as well as interest rates is a good idea, I have done this in the past, however I need to keep an up to date list. Do you think its better to tackle the amounts with the highest interest rates or highest total amount owed ? Deadlines and goals are great ideas! I will definitely start doing that, thanks for the helpful advice.

    -Erin

iVillage Member
Registered: 07-27-2009
In reply to: jen2075
Fri, 01-31-2014 - 7:46pm

I tend to attack the ones with the highest interest rates first, however, I have paid off a few very small debts that didn't fall into that sequence just to give myself a mental jumpstart. You just have to find what makes you tick.

JenAaron.jpg picture by jen2075