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@Anonymous wrote:
So hubby was out of work due to illness and we are still trying to play catch up. .I have 100% payment history but real high utization. Like 71% I have made sure to pay my mins even though we can't afford it at the moment. Which brings me to my issue, I have to constantly turn around and use those same cards to pay other bills...so I've been stuck in this cycle for a few months and our "catch up " isn't fixing itself anytime soon.. advice? Ideas?
You have to make a budget and make some potentially hard cuts (if there are any cuts left to make)
Do you have cable?
Overpriced cell bill?
Shopped cheaper insurances?
Subscriptions you can cancel?
Overpriced home?
Overpriced car? Two cars when you can get by on one?
Can one or both of you earn any extra money?
Do you go out to eat or order in?
What are the limits and balances on your cards?
@Anonymous wrote:
@Anonymous wrote:
So hubby was out of work due to illness and we are still trying to play catch up. .I have 100% payment history but real high utization. Like 71% I have made sure to pay my mins even though we can't afford it at the moment. Which brings me to my issue, I have to constantly turn around and use those same cards to pay other bills...so I've been stuck in this cycle for a few months and our "catch up " isn't fixing itself anytime soon.. advice? Ideas?You have to make a budget and make some potentially hard cuts (if there are any cuts left to make)
Do you have cable? You can cancel cable and just get Netflix.
Overpriced cell bill? There are many providers out there now with cheap/good deals - My next step is to go from Sprint ($237/MO to T-Mobile $160/MO)
Shopped cheaper insurances? You can do this by raising your deductible a little, lowering other items or change insurance altogether.
Subscriptions you can cancel?
Overpriced home?
Overpriced car? Two cars when you can get by on one?
Can one or both of you earn any extra money?
Do you go out to eat or order in? Do this no more, get groceries for a week and just take lunch to work...this is what i do.
Agree with above. I did this back in 2005 and has been working for me. I added some notes in red.
I don't even have internet at home anymore and canceled my Netflix, HBO, etc. For the handful of times I watch TV per year, I can watch one of the DVDs that I used to spend too much $ on or go borrow a new one from the library for free.
Phone gives me internet and I can use it as a hotspot if I need to do some work at home. I'm on the T-Mobile $160 plan. I got $600 in visa gift cards for switching. Coverage is as good as anyone else's for my famiy in Tampa Bay and when I'm down there. NYC is mostly decent. Other areas in NY state can be pretty spotty, but I'm generally happy for what I pay. I'm increasingly trying to put the internet down anyway.
Ohhhh . . . and if you can manage to use less than 2GB on any of the lines, they knock another $10 off. Theoretically, $160 could become $120 if all 4 lines were diligent about wi-fi and staying under 2GB. My Mom gets the credit every month. I used to, but not anymore that I've gotten rid of internet at home. My two nieces that are on the plan . . forget it! LOL.
^^^all excellent ideas
Serious progress will really be made if you both cut and bring more money in. Ditching cable on it's own is a drop in the bucket, yes. But when I really went through my expenses, I found a lot more.
Cable was already gone, but canceling the internet saved $69.99
Switched cell providers, got the bill for two phones down $70
Canceled Sirius XM in the car, pulled my CDs back out $15
Canceled HBO $15
Canceled Pandora Premium $5
Canceled Spotify Premium $10
Canceled Netflix $10
Changes to Car Insurance: $20
That's well over $200 bucks/month in cuts which helps a ton. You also become eligible to do the free trials on some of the above again. I also found that I don't really need all of the entertainment options at one time. You can rotate and have HBO for a month or two, then cancel and go Netflix, stuff like that.
I next need to take your advice and bring some extra $$ in. At least starting with selling stuff I'm not using on eBay/Craigslist/etc. I have old iphones, a laptop and who knows what else just collecting dust and depreciating.
@Anonymous wrote:
I would have to look, but they are all sitting at around 90% utilization except a online store account only has only has a $40 balance out of $600 and a gas card that has $0 out of $200
OK, that really does not tell me anything useful. Need specific hard numbers to offer help and advice. List each credit account from largest to smallest, with balance, limit and payments.
Also how much you have in your budget to apply to the debt.