Should have came here first!!

iVillage Member
Registered: 04-27-2005
Should have came here first!!
38
Wed, 08-17-2005 - 8:09pm
I went to the SAHM/WOHM debate board to ask about my finances and that was a BIG mistake. Most of those women are nasty, know-it-alls who just looking for someone to put down. Here is my story:
My dh and I have gotten ourselves into over $6000 debt with our line of credit for overdrawing our checking account. Yes, it was stupid but it just escalated. I have come to terms with this and figured out a way to pay it off AND get us back on track (cutting out one of my dd's activities, having my dh understand he can't just take $20 here and $20 there whenever he feels like it, etc.)I know it will be hard but we are going to try our best. We do have cc debt but I only use one card and put all my clothes and medical bills on it and pay over the minimum every month. They were telling me I am wrong because I have a lease and my dh has a car loan. They INSISTED I needed to get rid of my car, my cable and cellphone. I have different ideas of how to save the money and they just insisted I wasn't listening.
I hope I have found a better board to go to. One that other people are in the same boat as me and we are all here to help one another, not berate them like they are a child.

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iVillage Member
Registered: 03-27-2003
Wed, 08-17-2005 - 8:55pm

It's amazing how fast it racks up isn't it? Welcome to the board and I hope you find a welcoming space here. One thing to watch out for on the CC is not just that you pay above the minimum but that you can pay all that you charge. I use one of the extra checkbook registers and write down every time I use my charge card. When the money is gone in a budget category it's gone and I'll need to wait until the next month or take that money from somewhere else i.e. use dining money to stock up on a great grocery sale, etc.

Taleyna

iVillage Member
Registered: 08-19-2003
Wed, 08-17-2005 - 9:07pm

Well getting rid of all the things the other posters mentioned is an excellent way to accelerate your snowball, but still getting out of debt with those things may be doable also.

I have found that in order to get out of debt, you have to stop using debt altogether. From now on pay cash for everything. No credit cards! Go back, track your spending, and write a budget.

Shannon

Shannon


Pregnancy%20ticker
iVillage Member
Registered: 03-22-2005
Wed, 08-17-2005 - 9:26pm

I think we need to bear in mind when we ask people for advice is be prepared to hear things you do not want to hear. Having said that, you always have the option to ignore them.

It is understandable to put medical bills on credit cards, but maybe you can hold off getting new clothes for a while? Depends on how much more you are paying over the minimum, it could still take a long time to pay off $6000. For example, if your minimum payment is $120 a month, and you pay only $30 dollars or so extra, making it $150 a month. If you have an interest rate of 19%, it will take more than five years to pay off the balance. And if you keep adding to it ...

You can try out different scenarios with this nifty calculator:

http://www.bankrate.com/brm/calc/creditcardpay.asp

iVillage Member
Registered: 01-06-2005
Wed, 08-17-2005 - 11:49pm

HUGS!!!!!!!!!!

$6,000 is not an outrageous amount of debt. By doing just a few things differently each month, you will get that paid off in no time!!!!!

I'm sorry you have met some women who were less-than-helpful, but don't let that discourage you! :) YOU know what is best for your family! If you can cancel the cable and save $30 a month (or whatever) that is great, if you decide that wouldn't help bring the bills down (because then you would want to rent more movies), then don't do it.

Good luck to you and keep us posted!
Jennifer

 

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Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Wed, 08-17-2005 - 11:57pm

I just wanted to welcome you to this board. We have a great group of people. Stick around...you will find we're nonjudgemental.

So far, you gotten some good suggestions. Sorry I don't have any to add. I just finished posting my "check-in" (you'll see it below) and it's upset more on our situation.

I simply wanted to welcome you. Look forward to reading and answering your future posts.

MYM

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Thu, 08-18-2005 - 9:24am

And you have found a different board!!!


I personally hate debate boards, mostly because I am eaten alive there!

iVillage Member
Registered: 04-27-2005
Thu, 08-18-2005 - 12:36pm
Thanks so much. It was so refreshing to come over here.
Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 08-18-2005 - 2:16pm

Hello and welcome to the board.

All my best,
Danni

iVillage Member
Registered: 04-27-2005
Thu, 08-18-2005 - 8:14pm
Thanks so much. Yes, unfortunately the "extra" money we had, will go toward paying off the LOC. At least we had it though.
iVillage Member
Registered: 05-30-2003
Thu, 08-18-2005 - 8:27pm

Yeah, you found the right board! If we did any of that, Danni & Becky would tap-dance on our heads, LOL!

As my DD was growing up, I was (& still am to a certain extent) a WAHM. But I know I don't fit your description about them, ROFL!!!

Welcome here-

Lisa

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