Here is the first "official" we sat down and really looked report. Credit card debt 12243.. outstanding medical bills 2430. Car loan 3400. We have a mortgage but havent checked that balance and student loans. the good news is that we are current on all payments except the medical. Now mind you I had two major emergency surgeries last year so that figure is on top of what we paid out of pocket. I could take solace in the fact that our cc debt wasnt created by a shopping habit but I wont because here is the reality. we had to use them to cover emergencies because we didnt manage our money and had little to no savings. We have struggled to use cash only this week but it shows me our true attitude. We dont say no to ourselves - we dont set limits. For most of you that was a no brainer but when you hand over the debit card there is a true disconnect between how much your spending and how much you think you are spending. Our goal is small but we are going to save $50 this week. so lets recap..cash only spending (great start~crappy finish) putting 50 in savings (one small leap.....you get the idea)
drum roll please
May 6th, 2011 at 02:08 pm
May 6th, 2011 at 02:14 pm 1304687675
I hope going cash-only works for you. We weren't quite as successful at getting rid of the debit cards, but budgeting has been a huge help in keeping spending in check.
May 6th, 2011 at 04:33 pm 1304695991
May 8th, 2011 at 04:09 am 1304824149
The 1st trick that helps s-t-r-e-t-c-h dollars is to make a menu plan. Choose 8 favorite dinners chicken or saute ground beef or fish, peas, & jello for dessert. This meal can be on the table in under 20 minutes since pasta cooks in 12 minutes.
The added benefit is stress reduction, you never walk in the door worried about what to make for dinner!
May 8th, 2011 at 04:17 am 1304824663