Debt Anxiety
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Debt Anxiety
| 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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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
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
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
To be honest I just don't watch those shows.
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"
Becky
CL of 4th, 5th & 6th grade Scoliosis
I worry more about stuff like global warming and nuclear proliferation.
Goal #1:
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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