Debt Anxiety

iVillage Member
Registered: 04-28-2007
Debt Anxiety
13
Fri, 01-09-2009 - 2:06am

There is just so much talk about debt everywhere here lately and I have been watching "money problem" shows all day long. I think it finally got to me and I cant sleep and I just have so much anxiety about debt and money right now. Im so afraid I'll end up like these people on tv or Im afraid me and SO will never get "ahead". I will feel so much better when I can use this tax return to pay some of this off. We don't have much but

 


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iVillage Member
Registered: 01-06-2009
Fri, 01-09-2009 - 2:34am

Hello Another person that can't sleep.


I think everyone is freaked out at different levels these days. I am afraid when I open the mail every day that one of our credit cards will be sending me a letter saying they have raised my interest rate or lowered my limit. That is what scares me the most because we are on a fixed income and have a good amount of debt to still pay off. If one of the cards would take away my low interest and the other ones would follow suit, we

iVillage Member
Registered: 04-28-2007
Fri, 01-09-2009 - 2:57am
What im freaked out the most about right now is the fact that were so young and we are just starting our life, but now im also having questions like, will we ever be able to buy a house? we cant even get a car loan yet. the answer is always the same, its not that we have bad credit we just dont have much credit. well the way banks are cutting the way they lend now its really scary to think i could be stuck in

 


laurenaugust.gif picture by wowen<

iVillage Member
Registered: 11-09-2008
Fri, 01-09-2009 - 5:42am

Hi - I just want to say that I really feel for those of you in the States. While things will get worse here, I dont' know if they'll get as bad and so far I havent' seen what you are seeing. Of course housing prices are ridiculous - I live in a big city and the average CONDO is like $400,000 and that's a one bedroom. A house is more like $700,000 - 800,000. I am 40 and I will never be able to own a home at prices like that. And my husband won't consider living anywhere else.

My thoughts are with you, especially around the horrible state of health care in the US, and I am hoping that with a new president that things can change for the better, though he has a big mess on his hands.

Try to stay positive and take it one day at a time. There's no point in agonizing over things before they actually happen - it just prolongs the pain. Of course, I also know how hard that is to actually do!

Sending you wishes for a positive new direction.

Steph

iVillage Member
Registered: 01-23-2007
Fri, 01-09-2009 - 6:35am

Read the Suze Orman book. Just click on the link in the discussion thread that Maryann started. 2009 is not going to be a good year, but things will turn around. Being young is lucky. Even me, in my 40's, am better off than a lot of people I work with because I have 30 years for the market to rebound. The big thing is: save, save, save!!! And get out of debt.

(By the way, I saw your siggy...I'm a pre-eclampsia survivor too! My son, now 16, was born at 32 weeks and 2.5 pounds.)

Dee






iVillage Member
Registered: 07-05-2006
Fri, 01-09-2009 - 8:48am
Yes! Really getting nervous. China just decided that they are not going to buy anymore US treasury bills. What is going to happen to the value of the dollar? Nobody has any faith in us anymore and I don't blame them. Plus, when they pass another multi billion dollar stimulus plan and in order to do that they print, print, print more worthless dollars...I think that our entire country is in for some growing pains. We all need to get out of debt as fast as we can and almost more importantly, save, save, SAVE! We all need an Emergency Fund more than ever. I'm definitely going to go read Suze's book.

iVillage Member
Registered: 03-27-2005
Fri, 01-09-2009 - 9:02am

To be honest I just don't watch those shows.

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Fri, 01-09-2009 - 9:12am

I know it's tough and money does get to be really stressful at times.


At some point I read a statement of "It's only money"

iVillage Member
Registered: 08-22-2008
Fri, 01-09-2009 - 9:26am

I worry more about stuff like global warming and nuclear proliferation.

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Fri, 01-09-2009 - 9:43am
I have a brood of five kids, and we're still pretty tight with money most of the time but a lot of that is my own doing. (My manta is that if I don't live like we're broke, we will be soon enough). I'm a HUGE worrier but I find a lot of comfort in knowing that the old cliche is true: at least we're all healthy. I have a friend that doesn't know if her precious child will see her 2nd birthday because she needs a heart transplant, and that is the worst wake-up call for any mother. None of these concerns that I have would be "real" if I had something like that to worry about, so I try to live that way all the time. I keep my "live broke" motto in my head, so we don't take the whole crowd to the movies or anything. Instead, we do free stuff with them and life is good. We're safe, we're warm, and we don't have any real problems. I try to remember that, even as I live responsibly and keep my eye on the debt-free ball and a secure future for all of us. It's definitely worth working for, but when I think of little Sofi and her heart, I know that I need to love every minute of getting there. Whether I spend them worried or with joy, I know I'll never get them back and I don't want to ever have to live with regret.

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Goal #1:

Sarah
iVillage Member
Registered: 02-25-2008
Fri, 01-09-2009 - 10:54am

Hi,

I am one of those who cannot sleep at night because being in debt worries me. I have found some great support on this board and i have also got a lot of advice and tips - they are all great. Once you have all the resources at your disposal, you can find a plan that suits you the best to pay your debt and/or save money. I feel once you have a plan and a timeline, you will feel less at loss and I am seeing this from my personal experience. Till I knew how long it will take me to pay back the debt that I have, I felt I will be immersed in debt forever. However, on paper when I see that I will be debt free in 18 months - 17 more to go, I know that I can do it. So I think a plan is so very important. Be honest with yourself and find out your strengths and weaknesses. For example, I found out that my weakness is that dh and I are very passionate about our careers and if it means taking a hit as far as repayment goes or getting more into debt, we will possibly do it. For eg, I could have paid of $8000-$9000 more towards my debt this year, but we have earmarked this money for dh's fellowship application/ interviews and my research trip to DC. So by the end of summer we will not have paid back as much as we could have and possibly become debt free in 1 year. On the other hand I know my strength is that I can stop using credit cards. I can carry my cards around and not be tempted at all. I have factored all this in in my "plan" and I feel less stressed now. Remember that being young is such a boon - you have much more time to save after you pay off your debt. You will be so much more prepared to send you child to college when the time comes.
Wish you the best,
EL

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