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re: Credit card and bullshite debt??
Posted on 7/23/13 at 8:14 am to LSU alum wannabe
Posted on 7/23/13 at 8:14 am to LSU alum wannabe
quote:
We are $55K in the hole.
In just CC?
2
Posted on 7/23/13 at 8:45 am to Lsut81
Knock that stuff out. It will take extra jobs to get higher income and getting rates slashed. So happy my parents didn't leave that debt to my brother and I.
I'm crazed about $. My wife doesn't understand at times because she's never seen anyone go through that painful experience.
I'm crazed about $. My wife doesn't understand at times because she's never seen anyone go through that painful experience.
Posted on 7/23/13 at 8:52 am to LSU alum wannabe
quote:
We are $55K in the hole.
What happened to the 25k range?!?
Posted on 7/23/13 at 8:52 am to LSU alum wannabe
quote:
We are $55K in the hole.
Been there, done that. Now, the only debt we have is a house. It can be done, but you and your spouse have to change your behavior.
1. Establish a $1,000 Emergency Fund for Immediate Emergencies
2. Pay Off all Debt Using the Debt Snowball
3. 3 to 6 Months of Expenses in Savings
4. Invest 15% of Household Income into Roth IRA’s and Pre-Tax Retirement
5. College Funding for Children
6. Pay Off Home Early
7. Build Wealth and Give
This post was edited on 7/23/13 at 8:55 am
Posted on 7/23/13 at 8:53 am to silstang23
quote:
What happened to the 25k range?!?
If he's like most, many underestimate what they truly are in debt. Some people have a good idea in their head, but it's usually a different number when you put it down on paper.
Could be to a lack of communication between the spouses.
This post was edited on 7/23/13 at 9:27 am
Posted on 7/23/13 at 9:13 am to Will Cover
That would drive me insane. I pay my cards in full 3 to 4 times month.
Posted on 7/23/13 at 6:59 pm to silstang23
quote:
What happened to the 25k range?!?
Actual MATH happened.
Posted on 7/23/13 at 7:02 pm to Lsut81
quote:
In just CC?
No. There is a TV (I only go pimp with TV) that is on a no interest Best Buy card. Also a badass tempurpedic that is no interest as well. But they knock it down to 49-50. We just need to really get this shite under control so we have breathing room when more "life" happens. Like a AC dying or major auto repairs
Posted on 7/23/13 at 7:15 pm to LSU alum wannabe
You shouldn't view it as breathing until it's gone.
Posted on 7/23/13 at 7:16 pm to LSU alum wannabe
quote:
Like a AC dying or major auto repairs
Do you have enough cash for savings without using a credit card or retirement account?
Posted on 7/23/13 at 7:17 pm to LSU alum wannabe
quote:
No. There is a TV (I only go pimp with TV) that is on a no interest Best Buy card. Also a badass tempurpedic that is no interest as well.
That's only 4-10k at the most... That still means you have over 45k in cc charges. How much was the trip that started this spiral?
Posted on 7/23/13 at 7:43 pm to LSU alum wannabe
Your first step should be to actually calculate how much interest you will pay over the life of your debt, using both of your scenarios you describe in the OP and any other scenario you can imagine... if that doesn't motivate you to dig deep I don't know what will.
If you are really 55k in debt an extra car payment won't help much, depending on your rates. Sell assets. Sell/trade-in the car and buy something cheap and economical that gets good mileage. Above all, quit buying dumb shite.
If you are really 55k in debt an extra car payment won't help much, depending on your rates. Sell assets. Sell/trade-in the car and buy something cheap and economical that gets good mileage. Above all, quit buying dumb shite.
This post was edited on 7/23/13 at 7:45 pm
Posted on 7/23/13 at 10:10 pm to Lsut81
quote:
How much was the trip that started this spiral?
4 grand.
Was a simple plan. Take trip. Pay it off. Time to take another trip. A son and school for the wife just wiped us out. There was never money for things.
Our downfall is going out to eat too damned much.
The wife does not quite grasp the depths of my cheapness if I have to.
The only really asinine purchases were the initial trip purchase and the remainder of my watch for my 40 th birthday. I paid about 65% of it cash the ret was card. About $650.
The rest were necessary things and home repairs etc.
Posted on 7/23/13 at 10:13 pm to LSU alum wannabe
quote:
The wife does not quite grasp the depths of my cheapness if I have to.
Do you pay all the bills?
Combined accounts?
I think the biggest battle here is getting both of the on the same page. It doesn't need to be a finger pointing conversation.
It's a, holy shite, we're in deep 50k debt and we need a solid plan to get out.
Posted on 7/23/13 at 10:26 pm to wegotdatwood
It's not finger pointing. She really is pointing the thumb. And crying. She tried to further her education...BITCH
And we had a son... WHORE
So I have told her this debt is mine as well. It is just time to stop talking shite and get started we have several small cards that can be knocked down one a month. I am excited about it.
The problem is just that first set back. Like a repair to vehicle etc.
Selling our cars is not the answer I feel. Even getting a cheaper one makes no sense when mine is near paid off (August). Hopefully we can keep that car until truck is paid off. Then if a new car is needed we will always have a car note worth of cash as extra. On top of minimums we payoff as we go..
And we had a son... WHORE
So I have told her this debt is mine as well. It is just time to stop talking shite and get started we have several small cards that can be knocked down one a month. I am excited about it.
The problem is just that first set back. Like a repair to vehicle etc.
Selling our cars is not the answer I feel. Even getting a cheaper one makes no sense when mine is near paid off (August). Hopefully we can keep that car until truck is paid off. Then if a new car is needed we will always have a car note worth of cash as extra. On top of minimums we payoff as we go..
Posted on 7/23/13 at 10:35 pm to LSU alum wannabe
quote:
She really is pointing the thumb.
So, she's blaming you? I'm a little confused here.
quote:
She tried to further her education
What did she go back for? Will it advance her career?
quote:
So I have told her this debt is mine as well. It is just time to stop talking shite and get started we have several small cards that can be knocked down one a month. I am excited about it.
Excellent. Even discussing things is a start. Build on that.
quote:
Selling our cars is not the answer I feel.
How much do you owe? What does she drive? What do you drive?
Posted on 7/23/13 at 11:21 pm to wegotdatwood
Car notes aren't the problem. One will be paid soon.
Point the thumb means point at yourself.
The classes could advance her but she is not ready.
Point the thumb means point at yourself.
The classes could advance her but she is not ready.
Posted on 7/24/13 at 12:09 am to LSU alum wannabe
quote:
Car notes aren't the problem. One will be paid soon.
I didn't say they were. I asked what you're paying on them and what they were.
quote:
Point the thumb means point at yourself.
I see
quote:
The classes could advance her but she is not ready.
What field? High income possibility?
Posted on 7/24/13 at 12:11 am to LSU alum wannabe
quote:
Car notes aren't the problem. One will be paid soon.
They can kill cash flow. They can be a time problem for many people.
Please, Read The Millionaire Next Door. Both of you should.
Posted on 7/24/13 at 6:15 am to LSU alum wannabe
Dave ramsey exists for people such as yourself. Check him out
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