Getting Out of Debt

United States
December 7, 2006 8:13am CST
Currently my family is swimming in credit card debt and it's getting me very depressed and stressed out. I am fearful of picking up the phone knowing that there will be a creditor on the end of the line wanting to know where my payment is. I am hoping that in 2007 I will be able to get things under control but honestly I am not sure if what I have planned will work out the way I am hoping. Is there anyone out there that's made it through a similar situation that can offer some advice or suggestions in helping my overcome my obstacles?
1 response
Juliephine
@Juliephine (286)
• United States
21 Dec 06
Absolutely. Been there, done that and it really is difficult. The key, starting out, is to establish a very realistic budget. But, you can't do that until you track where you're spending all your money. We had to throw out luxuries and use that money to pay things off. Luxuries such as cable or satellite, internet, magazine subscriptions, eating out, minimum on cell phone, alternate means of entertainment, carpooling, changed our diet and made more things from scratch rather than buying frozen dinners and the like. These are just some of the things we did. There are many forms of open source software out there, meaning it's free, to download that will help you track where your money goes. Also, most computers have microsoft money and it's a good tool to help you see where the bucks are blown, so to speak. Check out these websites for more help and tools to overcome the obstacle. www.bankrate.com www.daveramsey.com Good luck.