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Debt Wisdom; Our Third Step

Was the official game plan...setting a budget and sticking with it. The hardest part was actually cutting what was able to be cut and decreasing the amount that wasn't, so I had to do a whole lot of research on what and how. That is when I discovered the blog-sphere and the frugalistic society that it withheld, which in turn unveiled the frugalistic mama inside of me

My husband sold his truck by making a few transactions on Craigslist in order to pay off one of our credit cards. We contacted the other 2 credit cards and informed them of our financial misfortunes and where one was understanding/ helpful the other was very discriminating. Yet the most amazing cut was the wonders I was able to create with coupons, I learned how to turn those waste of paper in the Tennessean into money. Which if you think about it that is exactly what they are...FREE money.

We are using the snow ball effect to pay off our credit card debt and to keep our priorities in order we are paying our bills in a specific order giving every single dollar a specific name each pay day. Due to that dramatic decrease in our grocery budget we were able to pay off a small stack of doctor bill, that we had setting to the side, with in 3 months that accumulated to $750. We also combined our cellphones and internet to one carrier which didn't save us an extreme amount but it is a lot easier. I am also in the process of researching how to decrease our utility bills a little more, yet living in a 2 year old house may not render much of a decrease, hoping all the money saving gadgets are already installed ;-) Though plush blankets have been quite the investment =0)
This is what we had after that and in order;
  • Groceries-$320
  • Mortgage-$1275
  • Life Ins-$35
  • Electric-$70
  • Utilities-$80
  • Auto Loan-$374
  • Auto Insurance-$104
  • Gas-$300
  • Cell/Internet-$200
  • Personal Loan-$343
  • Credit Card #1-$80
  • Credit Card #2-$100
Which gives us a little better GRAND TOTAL of $3281, That is a slash of $895 just by watching what we spend and how we spend it.

As far as our depressing income...my husband landed a second job and I was hired for a part time job at our church in the child care department yet, I did sadly enough shut down my business, which was not as depressing as it sounds ;-) Though my income is significantly smaller it is consistent and with that consistence we have gained more debt wisdom.



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