So, it's the new year and we're on track to getting ourselves completely out of unnecessary debt. By that, I mean credit cards. We've depended on them for a while now. Before I got married, I paid my cards off at the end month. Once we got married that changed. We began using cards and that turned ugly. It was "well I'll just charge it" and we got whatever we wanted. Now we are close to 10K in debt. We are a family of five (three of them being children under the age of 4) and it is hard to get everything we need each month without going over our salaries.
It really came to a head when we blew through about 3k in one month, that being December. We basically paid cash for Christmas presents and I sort of went on a spending spree. Luckily we have overdraft on our bank account otherwise we'd be paying a lot more in fees than the 70 bucks they took from us. So i decided no more, and now we are on a strict budget.
We spend only what we have. I've created a budget which will get all of our bills paid each month. Anything that is left over will either pay down debt or go into savings or be a cushion for expenses that I've forgotten. Keep checking back to see how we get ourselves out of debt and into savings.
Wish us luck!
I am with ya. Good luck.
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