Jumping back on the band wagon...
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  1. #1
    Registered User mama2James's Avatar
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    Default Jumping back on the band wagon...

    This is not easy to admit, but I fell off the frugal wagon. As you can see in my sig, we had our debt consolidation loan paid off, no more credit card debt. But we went nuts around here at Christmas, needed heating oil this winter, tires for the truck etc. Now we are about 6 grand in debt again. Not sure on the exact figure, because I haven't had the guts to add it up. That comes this weekend. We have a little over 9k in our savings account. No retirement savings yet, but we do both have life insurance. We will owe about 1900 on taxes in April, and our truck needs about 3K in deferred maintance/repairs per DH's estimate. Truck will be paid off this Sept. Not all of that work needs to be done immediately. The truck is my daily driver, DH drives an 88 honda that we bought 18 months ago for 1200 bucks. It will not pass the inspection that comes due this summer, and needs more body work than it's worth. DH commutes 60+ miles/day, so the honda has served us well on gas milage, but it needs to be replaced.
    No plans to put the savings account money towards the debt at this point since we feel the need to go into save mode now as DH's job does not feel very secure. He is a truck driver for a small company. I have been sticking my head in the sand over the last year, I knew the situation, but wasn't owning up to it. DH just lets me "take care of the bills." A couple days ago it all came to a head when we were discussing the work the truck needs. DH just didn't realize the road we were heading down, and I admitted that I have been very lazy with our finances and putting it on the back burner. Part of that it due to not wanting to put more stress on DH while he is dealing with PTSD, possible diagnosis of traumatic brain injury related to his military service, and working with a counselor on his alcohol issues. We both agreed that we have to tackle this before it spirals out of control, so this weekend we are going through the last several months of statements, looking at exactly what we have been spending, setting goals and outlining a working budget. I'm actually excited about it, and glad that we will be doing it together.
    Use it up, wear it out, make it do, or do without...

    Building emergency fund to $5K, then snowballing credit card debts in balance order. Following those with medical bills in collections, a vehicle loan and then student loans..plans subject to change as I learn more and life happens

  2. #2
    Registered User OOwl's Avatar
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    No advice. I'm new here. However, I just wanted to encourage you on your new path. You sound like a mature, responsible couple and I'll be very happy for you when your plan causes your family to flourish and succeed. My sincere best. . .
    Totally debt free since January 2011.
    Fully funded Emergency Fund complete December 12, 2011! Yeah!


  3. #3
    Registered User Debbie-cat's Avatar
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    Glad to see you back and that you are ready to face your responsibilties. Falling on the wagon and then realizing you have to climb back on is a humbling experience. With both of you working together, you will achieve your goal. Good luck!
    Oct No Spend Days - 13 /20
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    Don't tell God how big your storm is...tell the storm how big your God is.

  4. #4
    Registered User frugal is fun's Avatar
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    Sounds like you have a good plan in place and its an especially good thing that you and DH are doing it together.

    Good luck!
    Judy


    never loose site of the big picture

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    Registered User nodmicks's Avatar
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    Sounds like you have a good plan! You can do it!!!

  6. #6
    Registered User mama2James's Avatar
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    Feeling good about the upcoming week, the fridge and gas tanks are full, hubby and I both have our "weekly pocket money" set aside, and the money is in the checking account to pay daycare tomorrow morning. It wonderful to feel in control and be communicating about the finances!
    Use it up, wear it out, make it do, or do without...

    Building emergency fund to $5K, then snowballing credit card debts in balance order. Following those with medical bills in collections, a vehicle loan and then student loans..plans subject to change as I learn more and life happens

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