Congrats on deciding to make a change and live a debt free life! I am working on my last bit of consumer debt (car payment) but given that its 0% interest, I'm not in a huge rush to pay it off :)
I guess my first question would be can you meet your minimum payments or are you coming up short each month? If short, by how much?
Before you start coming up with any "plan"
We have been coming up short recently and I attributed it to the holidays, several bdays and baby showers being lumped together.
I have one those husbands too, who wants to stick their head in the sand and let someone else worry about it.
"Patience is the best remedy for every trouble"- Plautus
Hi Shannon and welcome to the boards!
Loved your line "I am woman, hear me roar" -- good for you!
OMIGOSH - I feel sick - we are over $50k in CREDIT CARD debt alone! $50,656.93
We pay $1000 a month just for credit cards!
You are making some great first steps.
I need to ask you - are you still currently charging on those cards? If you are - your first step is to STOP immediately. Take them out of your wallet (and convince DH to take them out of his). Once you have done that you are on your way to taking great strides!
Do you have any savings? A lot of people here believe in saving $1,000 as a starter emergency fund. This prevents you from using your c/c when something like an unexpected car repair pops up.
I think tracking your spending is great but you need to also triple think before you buy something. "Do I really NEED this?" "Do I have something at home that would work the same?" "If I am not going to use this in the next 24 hours should I really be buying it?"
That kinda thing.
Having two people on board with this is great but just remember - even if DH is having a bad day of it or you are having a bad day of it - you can always continue forward with good budgeting and such. He might be resistant at first but keep at 'em! Its worth it.
As you can see in Oct. 2009 I had 53000 in consumer debt and I am doing my darndest to pay this down...
I would really try to get some of your APR percentages down...it makes a huge difference...and like somebody else said NO MORE CHARGING
Take a deep breath...and start on your debt reduction journey...
Great job in getting all those numbers together! I know its scary (and can make you feel the need to vomit!) but its the first thing you need to do. As another poster mentioned, take those cards out of your wallets now. You can't pay them off if you keep using them!
The next step is to figure out your income and fixed expenses. Income is easy. Get an old paystub and figure out how much you bring home.
We used up our savings in the middle of the summer when the a/c in my car died.