Paying down CC's, one dollar bill at a time....

**ArmyOfFive4God** · 03-07-2009, 11:57 AM

OK, not literally $1 at a time. This is an explantion of the CC line in my siggy). In October I took in a little girl to watch. I get paid a very.small.amount, because Mom is "just a guardian" (til she can adopt her) & therefore gets access to some gov't assistance, daycare being one of them.

Hubba has had this "me man, me bring home bacon" for awhile (since I became a SAHM in 01/04). It bothers him that we don't have lots of monies for savings or other things that we may occasionally just want. He gets stressed over money. I was playing on his laptop yesterday & couldn't find one of my documents so I opened up his budget spreadsheet (the laptop isn't private or anything, and we check each others mail & email anyway, we're very open like that). He took over bill paying a few years ago, so I know almost nothing about the bills. What I didn't realise is that our CC bills were so high. I knew they were high, but I had guessed about 3k less. I wanted to cry.

So I formulated a plan of action. I sat him down last night & asked him if we were a team? He said yes, of course. I asked if we could totally function & work as a monetary team. He agreed. So I threw my plan at him.

I am taking over the 3 smallest balance CC's. They are out of his hands now & he will have more monies to play around in other areas of the budget, including savings. Once I get these 3 PIF we have 3 larger CC's. I will take the lowest of those 3 off his hands as well.

As it stands right now, the next payment on one, will PIF this month, and next month there will be a 2nd PIF. And of course the last in May.

He's so thankful & grateful, and I can't believe how ignorant I was to the total of these CC's. If we were to PIF them all in 1 year, it'd be almost $600 a month, which we can't do. I'm hoping we can do it in 2. If I get more daycare charges, we MAY be able to do it in 1-1.5.

I can't do much as I don't make much money. We aren't frivolous with our money & we're still in debt from our X-country move. We've been using the debit card & cash for purchases, so it's not like we've been outrageously spendy. We have however had to put some unexpected health emergencies on them, which is why I'm desperate to do this & get a savings going.

So here's to the plan!

**ArmyOfFive4God** · 03-07-2009, 07:02 PM

I got an unexpected $75 today!!! It'll be paying off my bulk lady, so that'll be $68 more when I get my DFS check next week to go toward CC's!!! WOOHOO!!!

**Persimmon Lace** · 03-07-2009, 07:32 PM

You can do it! Good for the 2 of you becoming a team!

**mauimagic** · 03-07-2009, 07:57 PM

congrats on putting a plan together that makes your team stronger. I was intrigued by the title of your thread - it makes sense to me somedays to use 'even a dollar at a time' - it all does add up.

Mahalo for sharing!!

**itlw8** · 03-09-2009, 10:53 AM

I actually do pay things off a $1 at a time well usually $25 at a time but I could do $1

I pay most of my bills online. so during the month if I save say $25 grocery shopping I put that $25 in savings or on a bill with just a click every little bit does add up.

knowing what you owe.( BOTH of you) is a major step in fixing the problem.

Going cash only can also help ALOT!

**Sassyclass** · 03-09-2009, 10:00 PM

Glad you and hubby are both on the same page. I sometimes think that is 1/2 the battle.

Cat

**ArmyOfFive4God** · 03-09-2009, 10:04 PM

THNX! He's not been private or mean about it, he just took over the bills & said I didn't need more stress which is why he didn't say HOW high they were. It's really my fault that I didn't know. I never asked.

I'm challenging myself in so many areas right now- the fling, BS 1, lowering the utilites (gas, elec, water), and this going additive/preservative free eating. I'm all pumped up. I just pray that pump continues.

Kinda like the weight loss saying:

"Food doesn't taste as good as healthy & thins feels"

Well things don't look as nice as a big fat 0 on our CC's feels!!!

YEEHAW!!!!!

**itlw8** · 03-10-2009, 04:09 PM

Originally Posted by ArmyOfFive4God

THNX! He's not been private or mean about it, he just took over the bills & said I didn't need more stress which is why he didn't say HOW high they were. It's really my fault that I didn't know. I never asked.

YEEHAW!!!!!

We know...... I handle the money in our family and it works fine BUT he had no idea where we were. and if I died he would be in a pickle. So we agreed I handle it but keep him informed.

**MomToTwoBoys** · 03-12-2009, 10:25 AM

I think you did a wonderful thing in asking your DH to help out with the budgeting. One of the things I recommend to people is that in order for the household budget to thrive, include your significant other in the decision-making process. Even if you have one primary income, it's good to include your SO to help alleviate money stresses and other issues that may come up. It builds a stronger relationship between the two of you because as we all know, about half of marriages end in divorce (and money is the number one reason behind those divorces).

Let's hope you both can keep that momentum going! I guarantee you that your DH is going to be able to breathe easier and you're going to feel better knowing that you both did this together.

**kmonokwe** · 03-12-2009, 10:43 AM

Wow, well done! What a wonderful story. I agree, it is good for you both to be informed - not only can you step in and know whats going on in an emergency, you can be each others' support. DH and I are constantly helping each other to see the benefits of our current budget/debt payoff system. Its easy to get down about the load of debt and for your DH to be totally on his own in handling that must have been a big stress! I'm glad you're able to help him by sharing the load and supporting each other!

I bet it feels great to know that in less than 2 years, you guys will be done with the credit cards? It feels like a long time, but really, it is a short time frame. Great job!!

**ArmyOfFive4God** · 03-12-2009, 10:45 AM

Thank you, all of you!

**ArmyOfFive4God** · 03-12-2009, 06:30 PM

SQUEEE!!!! Hubba got a dental insurance reimbursement check today!!!

We PIF TWO CC's (goodbye stupid cap1 & stupid household!!!). He hasn't deposited the check yet, but tomorrow or over the weekend, we will say goodbye to Aspire as well!!

DEBT!!! I am

yo' butt out ONE DOLLAR ATTA TIME!!!

**ArmyOfFive4God** · 03-20-2009, 12:03 PM

1 week later..... I'm sending the Aspire PIF check today!! YAYAYAYAY!!!

HH finally & officially showed as PIF 2 days ago.....

Cruising along... Juniper, I'm after you next.... HERE I COME!!!

**mauimagic** · 03-20-2009, 12:09 PM

[QUOTE=ArmyOfFive4God;. I'm all pumped up. I just pray that pump continues!QUOTE]

Exactly like I feel - afraid I'll lose momentum. In response to my blog on this, several people suggested keeping a notebook always available so not to lose ideas/momentum, etc. And the importance of keeping in touch with FV.

Love hearing how you and your family are doing!!

**mauimagic** · 03-20-2009, 12:13 PM

Originally Posted by ArmyOfFive4God

1 week later..... I'm sending the Aspire PIF check today!! YAYAYAYAY!!!

HH finally & officially showed as PIF 2 days ago.....

Cruising along... Juniper, I'm after you next.... HERE I COME!!!

Love reading this and was smiling the whole time!! That's a great approach to take. You rock girl!!