I see it.... the light from the end of the tunnel!

**Daisygirl** · 06-30-2006, 08:29 PM

Well -- there is at least a little glimmer.

Since I have disocvered this place, I have done so much to cut my expenses. I have also finally begun to dig my way out of a terrible hole.

In my signature you will see the horrible breakdown of where I am at -- yikes. But I was approved for a loan to cover the rest of my legal fees (not listed - more of an expenditure than a debt), my Wells Fargo Loan at 31% (ouch), and my credit card, as well as about 1/2 of my back taxes and 1/2 of my overdue accounts. My kids are visitng the grandparents for most of the summer so that means the $420 a month I have been spending on child care can go to those smaller debts this summer. The plan I have written out will have all the personal debts (dear friends helping me out with this legal business, etc) and overdue accounts paid off by September. I will be using my babysitting money (that I would have spent on the kids) and snowballing as well as working as much overtime as possible. Then I will have only my 2 mortgages and my regular bills at that point.

This is the way that looks best to me. I am determined to lick this problem and give myself and my kids a fresh start. Does anyone have any other suggestions that might be better than my current plan?

**ewokgirl** · 06-30-2006, 09:46 PM

Sounds good! Although, you might want to set aside a little of that childcare money for back-to-school expenses at the end of summer. That stuff can really add up!

**kabin63** · 06-30-2006, 10:37 PM

Have you read Total Money Makeover by Dave Ramsey? I think you're on the right track, but if you can get this book from your local library and read it, there's just so much valuable info in it and inspiring stories. I read it cover to cover.
Best wishes and keep us posted.

**hollyhill** · 07-01-2006, 12:50 AM

You go girl!!!!

I would also suggest listing free and very cheap rewards for yourself to help keep you motivated through the summer....and keep on posting your successes!

**banana** · 07-01-2006, 09:56 AM

I think you have a great plan! I'm sure you will do fine with it!

**pammy** · 07-01-2006, 10:39 AM

Well alright!! That sounds great, Karen! Maybe a little blow money for yourself, as Holly suggested, to keep the wheels greased and on track, all I can think of. You're doing great!!

**ironmaiden** · 07-01-2006, 01:09 PM

Since it's basically just you this summer, eat cheap.
And close to when the kids come home, do some OAMC.
Read up on it on the internet.
And use some of that free time to read up on frugal living - like The Tightwad Gazette books - from the library. Remember if your library doesn't have it, you can ask them to get it from another library for you.

And time to plan stuff you can do with your kids that is cheap/free. Both places to go and things to do around the house. Everything from "invent a holiday" creating decorations and baking a cake to picnics. To come up with these ideas borrow books from your library. Get a notebook and write down the ones you like.