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drum roll please

May 6th, 2011 at 06:08 am

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)

5 Responses to “drum roll please”

  1. mskills Says:

    I know what you mean about the medical expenses. It is bad enough to have to use credit to cover unexpected health issues, but I was stupid enough to use my credit cards to cover the births of both kids. Stuff that could have (should have) been saved up for.

    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.

  2. creditcardfree Says:

    Fifty dollars on your first week out of the starting gate? I think it is awesome. If you do that every week, you will have saved $200 per month. Keep up the good work.

  3. snafu Says:

    Good on you getting $50. into savings. It's important to pay yourself first and get that $50. to savings before you disburse monies.

    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!

  4. snafu Says:

    sorry, I was trying to suggest you choose 8 favorite meals. I tried to give an example of a pasta dinner but I messed it up!

  5. http://bigpaperwriter.com/blog/cesare-bessay-on-crimes-and-punishments Says:

    I am sure that you will pay your credit quite fast, or at least that you will not be worried too much about it. I see that you are doing great in all your expenses tracking. Very nice post, thanks for sharing!

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