Dh and I just went over our budget and got all the bills, ect out from hiding and figured out realistically how screwed we are financially. I knew it was bad but seriously not that bad ykwim.
I feel physically sick and like just giving upo and going to bed, forever.
BUT I thought Id turn to you mama's for love and support. So this is my request.
Can anyone tell me a story Or even your gameplan about how you conqured mountains of debt and past screw ups and are financially ok, or on your way now. Im overwhelmed and dont even know where to start.:vent:

Dh and I just went over our budget and got all the bills, ect out from hiding and figured out realistically how screwed we are financially. I knew it was bad but seriously not that bad ykwim.
I feel physically sick and like just giving upo and going to bed, forever.
BUT I thought Id turn to you mama's for love and support. So this is my request.
Can anyone tell me a story Or even your gameplan about how you conqured mountains of debt and past screw ups and are financially ok, or on your way now. Im overwhelmed and dont even know where to start.:vent:

Seriously?? I would start with a savings and pay minimums on everything for a bit. It's what I'm doing. I'm taking 10% of each paycheck and transferring it to savings as soon as it hits the acct. That way I can cut up the cards, and not NEED them since I'll have an emergency fund. But even before that, keep EVERY receipt for every penny for the next month. It will give you a very realistic view of where you can cut out spending.

And then start with the smallest debt. Take what you were saving, and put it on that in addition to the minimum payment (if there was one). Even getting a $100 debt paid off will make you feel good and like you're getting there.

I don't have a success story - we're in pretty much the same position, and it's scary. But I'm going to do my best to make it work!! And I need to remember that it's not going to happen over night. As much as I want it to. I'd rather start knowing exactly where we stand, then head in not knowing and get discouraged when it's not working.

Yep, I can. It took us basically 9 years to get things figured out but it can be done. The first step is facing reality, which you have done. You CAN do it.

I would find a Crown Coach or Dave Ramsey class and do that first. The absolute first step is to save an emergency fund of 1000.00, and THEN start paying down debt. When an emergency comes up you use the fund and not cc or loans.

I love personal finance, and would be glad to talk with you more (in private if you prefer.) I know several people who have come out 100% debt free on modest incomes with several K in consumer debt.

We are working our way to 100% debt free living. It CAN be done, so be encouraged.

Also, I really love Suze Ormon's newest book. Women and Money. It's fantastic. Go to the library and check her and/or Dave Ramsey out. There are tons, and tons of great resources out there for free. If you want I can make a book list of the ones that were life changing for me.

I'm with you. We are a month in to Dave Ramsey's plan and I feel like the weight has been lifted. The biggest thing is that we have a plan. We have our emergency fund of $1000 in the bank and are tackling our debt. I recommend you read Dave Ramsey's The Money Makeover.

If you have credit cards call them and get them to lower the interest rate. Just doing this saved us quite a bit of money.

Maybe post your budget and we can see where you can cut money.

You WILL pull through. A lot of people have been where you are and are doing much better now.

I agree with Total Money Makeover (Dave Ramsey). I read it, and DH listened to it on CD (from the library) about 3 years ago. DH is finally on board and we started our money makover as of January 1, so it took a bit, and we added a lot to our debt in the interim, but we're finally on our way!

Thank you guys :)
Im looking forward and not backwards today, I feel like my head is screwed on right. I can tackle this. I just felt so panicy and anxious yesterday. I also feel really sad knowing that I NEED to work. I always thought I could sah and we could make things work.
Im going to the library tomorow for the books suggested, thanks and please keep them comming!

I just wanted to chime in and let you know that you aren't alone:hugs:

:hug:

Sweety, I am standing in the same spot that you are and we need to get together soon and sit and chat it out. ;) These mamas helped me TONNES and it made a huge difference.

*hug hug hug*

:hug: It's not a fun place to be right, but yes, you can do this! DH and I paid off everything a few months before we moved, and until we buy another house, we're completely debt free. I'll never say never, but our plan is to never accumulate consumer debt again.

We follow Dave Ramsey's ideas, for the most part, too. It works better for me psychologically. I'm definitely the type who needs to see progress for the emotional boost, so I like a snowball plan for getting out of debt. We now save for things we know we'll have to spend money on in the future: car repairs, new car, vacation, etc.