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First blog ever - thanks for joining me!

May 14th, 2014 at 09:04 am

So about 4 months ago I added up al of my credit card balances (5 of them) and the number was SOOO much bigger than I thought it was - to the tune of nearly $75,000. I don't even know how it got that bad. DH and I have great jobs, a nice house, drive nice cars, and have 2 beautiful little boys. We never had any problem paying the minimum payments on our credit cards and still covering the rest of our bills. Until one month my daycare payment didn't go through because I didn't have enough credit available (it gets charged to one of my cards so I can get the cash back). For several months I had to ask our daycare provider to wait a week to charge me, or to lower the amount and only pay what I could. Luckily for me the woman is an angel and has no problem that I am $3500 behind on payments now. She told me to pay everyone who is charging me interest first and worry about her later.

So after I added up my credit card debt and picked myself up off the floor, I knew things had to change. I got a 2nd job where I bring in an extra $700 a month on average. I have started couponing like crazy and have drastically cut our grocery bill (almost in half!) I lowered our cell phone plan, saving $20 a month. I have sold tons of stuff on mom's groups on Facebook and on Ebay.

I am doing the "debt avalanche" with the extra money and have paid off nearly $5000 of credit card debt in 4 months. I finally feel like this isn't hopeless and there is an end in sight. Estimated payoff date for all my credit debt is fall of 2017, which doesn't seem so far away!

Of note, this is just the credit card debt! I still have a pop-up camper payment, student loans (at extremely low interest rates, thank goodness), 2 car payments, and a mortgage. But by the time I have the credit cards paid off, I will have so much "extra" money that the camper will be paid off in a matter of a couple of months, and the cars will be almost paid off by then as well.

So I am here to be an example to any of you who have debt above and beyond what most people consider a "huge" amount of debt. So welcome and thanks for joining me as I chronicle my progress!

11 Responses to “First blog ever - thanks for joining me!”

  1. creditcardfree Says:

    Welcome to Saving Advice! I expect you will be an inspiration to many. Congratulations on your work so far.

  2. Butterscotch Says:

    Good luck! I just joined too because I was having heart attacks over my credit card debt too. We can do it!

  3. CB in the City Says:

    You have made a good beginning with a good attitude. It CAN be done! All of it!

  4. Mooshocker Says:

    Welcome, and in the words of the greatest female singer of all time......."It's only just begun"....................can't wait to follow your story...Jamie

  5. Bob B. Says:

    Welcome to the Blog side of SA. I've always thought as the Forums as the coach and the Blogs as the cheerleaders.

  6. Looking Forward Says:

    I am excited for your progress already - $5k in four months is GREAT!

  7. Petunia 100 Says:

    Welcome to the blogs! Best of luck to you with your goals. Smile

  8. MonkeyMama Says:

    Welcome to the blogs!

  9. Shiela Says:

    Hi and welcome!

  10. PNW Mom Says:

    Welcome to to the blog! Look forward to reading about your journey! Smile

  11. Lal Says:

    Nice job and super daycare provider. Have you made any payment to her?

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