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LS,
I have had much luck with a cash flow spreadsheet to plan my cash flow.
Focus on the day to day behaviors... sit down and plan your cash flow and then follow the plan for the month. Focus on purchasing sale items while at the grocery store, and stay away from easy to cook meals. Bags of beans and rice can be had very cheaply
Bring your lunch to work, something like a can of soup and crackers
Set it up so that every dollar from your income is told what bucket to go into.
Good luck! Don't be down! I've got some debt from a remodel project.. its also in the 5 digits, split out on two different 0 percent cards, and will be paid off with income tax and bonus this April.
Don't feel guilty... just stop frivoulous spending and pick up extra cash if you can.
also, plan your income and outflow.
Good luck LS
Also, posters to this thread,
Please keep in mind that kindness is a form of respect, and that we all must do our part to be friendly, supportive and above all respectful.
There are methods to communicate your points while maintaining kindness towards others.
Again, Good Luck LS!
@webhopper wrote:LS,
I have had much luck with a cash flow spreadsheet to plan my cash flow.
Focus on the day to day behaviors... sit down and plan your cash flow and then follow the plan for the month. Focus on purchasing sale items while at the grocery store, and stay away from easy to cook meals. Bags of beans and rice can be had very cheaply
Bring your lunch to work, something like a can of soup and crackers
Set it up so that every dollar from your income is told what bucket to go into.
Good luck! Don't be down! I've got some debt from a remodel project.. its also in the 5 digits, split out on two different 0 percent cards, and will be paid off with income tax and bonus this April.
Don't feel guilty... just stop frivoulous spending and pick up extra cash if you can.
also, plan your income and outflow.
Good luck LS
I agree with this. When I was digging my way out of debt, I put a moratorium on any unnecessary spending. We ate at home most of the time, and things that could be cooked cheaply. Going out to the movies -- nixed. Did I really need to buy a new blouse or pair of shoes? -- no. Anything that we didn't use that could be put up for sale on eBay? -- done. I had to get into a mindset of living cheaply until all of the debt was paid off, coupled with living within my means after we were out of the hole. That sometimes means putting off discretionary purchases even when there's 0% financing available to you. For instance, I wanted to recarpet our living room last fall, at 0%, but decided that we would have to wait until later this year as I had some unexpected and costly dental work come into the picture. I charged, at 0%, and completely paid off, phase one of it by cutting back on discretionary spending; I just underwent phase two a couple of days ago and have worked my budget to have it paid off by the end of summer. It's all been worked out by deciding on what non-essential expenses I can forgo while I pay off the charges for this needed work. I can also fall back on emergency savings, if necessary, but I'd rather live life a little more simply for a while and keep my savings intact.
I'm sure that you can do this, too. Look for any areas in your life where you can cut back; there may be more than you realize. It won't be easy, but it's well worth it.
And kudos to you for realizing that you have a problem and need to make a plan to solve it. Best wishes to you.
@09Lexie wrote:
@stormb28 wrote:
Your spending is out of control. Period. Youre worried about AA and youre buying impulse tickets to football games and gaudy car audio toys? Now, youre seeking a BT card to cover your reckless behavior. You are "scared" of the market, which is a long term investment vehicle, but you spend $1, 000s on "stuff"?
I obsess over $10 debt, yes, im that guy. I wouldnt be able to sleep if I were you. If its not a car, home, school, or medical debt I couldnt fathom carrying the debt you do.
Sorry to be so blunt, but you need to buckle down and take a long look in the mirror and curb your spending and decipher the difference between a need and a want.Wow! I thought this forum was to help and give advice. Your 'bluntness' and your opinion does neither.
+1......i mean seriously, tell me how you really feel!
@myjourney wrote:Lumps are one thing.....dumps are another
Support is what this forum is about and LS you have mine!!!!!!!!!!!!!!!!!!!!!
Plan your actions and execute them
Team LS!!!!!
@LS2982 wrote:
Went from being confident to just down in the dumps and depressed about it. Makes you feel like a failure at times.
Not gonna let this beat me, I had my fun now I have to do the right thing and pay it back which I have absolutely no problem doing. I had a problem. My solution now is to take pride in seeing this big number down slowly and slowly every month.
LS, keep your head up. You did your fun now time to pay the piper. No biggie. You have a game plan so just execute it. That's what makes life so fun, there is always something new to learn.
March Update
Starting Balances
PSECU 6,200 / 12,000CL APR 9.9%
PSECU LOC 1,226 / 12,000CL APR 10%
Barclays 3,985 / 7,200CL APR 0% (15 months from 9/12)
Chase 600 / 2,300CL APR 0% (15 months from 7/12)
Best Buy 3,178 / 4,000CL APR 0% (deferred 18 mo since 12/12)
GE CareCredit 1,237 / 2,100CL APR 0% (deferred 12 months since 11/12)
Kay Jewelers 1,179 / 2,000CL APR 0% (deferred 12 months from 12/12)
GE Amazon $748 / 6,000CL APR 0% (deferred until 6/13)
Current
PSECU 5,900 / 12,000CL APR 9.9%
PSECU LOC $0 / 12,000CL APR 10%
Barclays 3,493 / 7,200CL APR 0% (15 months from 9/12)
Chase 600 / 2,300CL APR 0% (15 months from 7/12)
Best Buy 2,978 / 4,000CL APR 0% (deferred 18 mo since 12/12)
GE CareCredit 1,237 / 2,100CL APR 0% (deferred 12 months since 11/12)
Kay Jewelers 1,179 / 2,000CL APR 0% (deferred 12 months from 12/12)
GE Amazon $748 / 6,000CL APR 0% (deferred until 6/13)
So I only have 1 interest accuing acount to tackle, the others are set on approximate monthly payments. After this month I have it figured I can throw $700-800 at the PSECU account which will take me to the end of the year but it will be PIF (Cant wait)!!!!!!
I'm excited to get these balances down and watch my credit and score age and grow!!!
@LS2982 wrote:March Update
Starting Balances
PSECU 6,200 / 12,000CL APR 9.9%
PSECU LOC 1,226 / 12,000CL APR 10%
Barclays 3,985 / 7,200CL APR 0% (15 months from 9/12)
Chase 600 / 2,300CL APR 0% (15 months from 7/12)
Best Buy 3,178 / 4,000CL APR 0% (deferred 18 mo since 12/12)
GE CareCredit 1,237 / 2,100CL APR 0% (deferred 12 months since 11/12)
Kay Jewelers 1,179 / 2,000CL APR 0% (deferred 12 months from 12/12)
GE Amazon $748 / 6,000CL APR 0% (deferred until 6/13)
Current
PSECU 5,900 / 12,000CL APR 9.9%
PSECU LOC $0 / 12,000CL APR 10%
Barclays 3,493 / 7,200CL APR 0% (15 months from 9/12)
Chase 600 / 2,300CL APR 0% (15 months from 7/12)
Best Buy 2,978 / 4,000CL APR 0% (deferred 18 mo since 12/12)
GE CareCredit 1,237 / 2,100CL APR 0% (deferred 12 months since 11/12)
Kay Jewelers 1,179 / 2,000CL APR 0% (deferred 12 months from 12/12)
GE Amazon $748 / 6,000CL APR 0% (deferred until 6/13)
So I only have 1 interest accuing acount to tackle, the others are set on approximate monthly payments. After this month I have it figured I can throw $700-800 at the PSECU account which will take me to the end of the year but it will be PIF (Cant wait)!!!!!!
I'm excited to get these balances down and watch my credit and score age and grow!!!
Good progress! Keep the momentum going and you will reach your goal.