joined consumer credit counseling...
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joined consumer credit counseling...
| Sun, 07-26-2009 - 8:50am |
They did the grand total and I have $12,500 of cc debt!!!! Yikes!!!! It's such a secret----I haven't told any friends or family.

Yes you will If you set your mind to it.
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First thing you need to do is find out where your money is going on a month. Keep a record of your spending Since this is close to the 1st of August start there.
After a month really study it with an open mind. As if you were a stranger looking at it. Are you eating out all the time because you are tired after working all day.
Are you stopping for Coffee somewhere in the morning on your way to work. Are you buying cokes at work on a break from some neighborhood coffee shop?
How about the cell phone do you have a bunch of add ons on it.
Are you at "0" at the end of the month or are you going in the hole and by how much.
What are you charging. Where are you charging it at. Walmart Target or Dillards. If it is at one store stop going there so much. Space out your visits.
When you really find these things out then you start changing your behavior.
Cut things out a little at a time. Start using coupons on anything and everything you can. Take all your saving and send it through bill pay to a bill.
Before you know it
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Hi and welcome!
I don't know your story or your income, but my first thought is that five years to pay off $12,500.00 is a long time. That's less then $250 a month. I guess my question would be if you really focus and cut back, could you come up with $250 a month and not have to have CCCS on your credit report? I don't know, maybe CCCS is the best thing, that why I'm asking :)
In terms of tips, MaryAnn hit the nail on the head with tracking your spending!!! Its absolutely disgusting when you see how much is spent on stupid things (in my case, food - I get so tired at the end of the day, or I'm always running so I grab things . . . not good for my bank account OR my waistline!)
Second, do you have an emergency fund? I think most here try and save around $1000 for emergencies so that if something does come up (car repair, appliance dies, etc) you can pay for it without whipping out the CC's. It took me over TWO years to figure this out, but you can't pay down the CC if you are still using it. I've gone TWO months only using my CC's to pay for online registrations (for races and such, things that will only take CC's) and then I go immediately to my bank and transfer the money, plus a self imposed fee over. The result is that my CC isn't going down as fast, but its not yoyoing either. Before, I would pay off a huge chunk, and then use it again for expenses that were unexpected. It took a virtual kick from some of the ladies on this board to get it through my thick skull that this isn't the way to go, lol.
Regardless, good luck with whatever you decide to do. Post often! The ladies here are a HUGE help in looking at budgets and figuring out ways to cut back on things!
Bex -
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