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Old 03-17-2008, 04:45 AM   #1
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I feel like we will never be out of debt

I just don't know what to do. We have so much debt and no assets. We racked up a lot off cc debt our first year married because DH couldn't find a job when we moved for my grad school. We have tried so many things but we can't seem to make a budget work.

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Old 03-17-2008, 07:38 AM   #2
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Re: I feel like we will never be out of debt

have you tried Dave Ramsey?
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Old 03-17-2008, 07:40 AM   #3
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Thumbs up Re: I feel like we will never be out of debt

I'm going to second DR, as well, it's all about willpower, which I seem to be short of on a lot of days. Sigh.
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Old 03-17-2008, 08:00 AM   #4
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Re: I feel like we will never be out of debt

I'm right with you mama! My husband's school loans are more than our mortgage! And we built up a lot of CC debt when each of us was in grad school too and when we were each laid off. You just gotta take baby steps. First thing is you need to track ALL your spending. Knowing where all your money goes is half the battle. Once you get a really good idea where the money is going, it becomes more apparent where you can cut some expenses. Then just focus on not buying anything that isn't necessary and cutting back on one thing each month (like if you eat out a lot, don't eat out one month, or if you spend too much on entertainment, only do free entertainment for a month, etc.). Once you start seeing some results, then trying Dave Ramsey and other budgeting things don't seem so hard! Good luck!
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Old 03-17-2008, 11:34 AM   #5
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Re: I feel like we will never be out of debt

another vote for dave ramsey
his book, total money makeover completely changed my thinking on debt, payments, budgets, etc.
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Old 03-17-2008, 12:01 PM   #6
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Re: I feel like we will never be out of debt

I agree....Dave Ramsey has a doable plan for getting out of debt. It's not a quick fix, but helps you get a plan in place.

What's your smallest debt (no need to answer), but if you are able try putting as much toward that bill to pay it off as soon as you can. When that one is paid off, move to the next smallest debt and start on it.

You CAN do it!!!! I know it's depressing -- my DH and I had a lot of debt when we first married -- but you can do it!!!! It took us several years, but now our only debt is our mortgage....just sharing to encourage you that it can be done
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Old 03-17-2008, 12:23 PM   #7
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Re: I feel like we will never be out of debt

I will agree also with Dave Ramsey. My DH and I just started the program.
For the first time in years we see a light at the end of the tunnel.
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Old 03-17-2008, 12:25 PM   #8
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Re: I feel like we will never be out of debt

thank you it makes me feel better to know people have paid it off. I'm in grad school and it seems like the school loans and cc debt keep getting worse. I really want to do the FPU classes but none start here for a while and I'm not sure we are disciplined enough to go off a book alone.
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Old 03-17-2008, 03:23 PM   #9
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Re: I feel like we will never be out of debt

Just read the book and check it out from the library. You don't need the class. Another good book is how to get out of debt, stay out of debt and live prosperously by Gerrold Mundis. Its an easy fun read and it focuses on caring for yourself WHILE you get out of debt.
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Old 03-17-2008, 03:51 PM   #10
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Re: I feel like we will never be out of debt

Check The Total Money Makeover and join our DR threads here. We will keep you on track Mama.
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