How do you find the extra money

We looked at our monthly forevers and decided what we could do without for awhile…cable was one. We borrowed videos through the libray and intra library loan.

look for places you can let go of spending money …It is addictive though its fun to find those spots.My husband stopped smoking saved many thousands of dollars that way…you have to feel your own way through this…

Check to see if you can get a lower interest rate loan on your House mortgage 2 or 3 interest points lower is good.Make sure you have the loan officer check what your payments would be if it was a 25,15,10 ect year loan sometimes their is only a 20 to 50 dollar difference monthly between them. It is better to go for the lowest years you can .Also make sure there isn’t a prepayment penalty.

House insurance; do some comparisons….we found a company called Maine Mutual to be the cheapest for car and house ins.if you are under 50.

if you are 50 or older aarp can cut your car insurance bill in half but their house insurance was triple ours from Maine Mutual for the same coverage.

Ebay things you don’t use

yardsale anything you can

Our Credit card debt

Our credit was actually fairly good as dh paid mortgage and credit cards but nothing else… everything else was years and months behind….

so we would roll over our credit card debt to lower interest or non credit cards when the low or free interest time was about to be up he rolled it over to another low or no interest card and so forth.We always paid more on the cards each month.When we would get a sum of money in our hands we would call the credit card companies and make a deal… they settled for less because we would pay a lump sum payment which would pay off that card. It went on our credit report for 7 years as bad debt but since we had no plans of using credit we didn’t care of course all that has cleared up…. We did this till all credit cards were paid off…

other options:

if your credit is bad and your interest rates on your credit cards are high.Call the company and let them know that your are considering bankruptcy…..they will usually lower the interest and help you get straightened out. Very important to get the interest down……

We had personal loans and paid the minimums until they reached the top of the list.Paid it off and rejoice!!!!!!!

Any other debts you pay the minimum until it comes to the top of the list…

The morgage was paid off by coming to the top of the list and we took the monthly payment plus all the extra we had been paying on the other bills slapped it on there till it was paid off. .We also recieved some extra money during that time and all but 10 percent went to the debt.

This did not go off without a hitch…we had many major financial challenges but we stuck with the plan and it worked….

set your chin like flint….and you can do it!!!!!!!!!!!!!!!!!!!!!!!!!!!

any questions?

What would you do if you had about 13,000 in cc debt?

What would you do if you had about 13,00 in cc debt and a child that is going to a $25,000/yr school. She has taken out as many loans as she can and has received a $8000 yr scholarship. She is always on the deans list and also works 2 jobs and pays for most things herself. That leaves us with a monthly school payment of over $700 plus our other bills. With an income of 10,000 for me which all goes to school my husbands $60,000 is what is left. And no we don’t go on vacations and spend anything that is not necessary on ourselves. I have clothes that are now coming back into style and Walmart is the place I buy my clothes. How would you do a budget with this and still have money to pay the CC debt. Most of the debt was from having to put the downpayment on the school so we could afford the monthly payments. Any help is appreciated greatly.

Parents don’t need to go into debt for their childrens college fund. There are scholarships, grants and student loans out there. You just gotta do your homework to locate them. There are also scholarships aimed directly at certain union members children, African American and Native American children. Many organizations will also target various neighborhoods. There’s also the good old fashioned WORK your way through school.

I am new and am glad to see this blog available.. My husband took ill and when he did all our bills were years and months behind. While my husband was recovering from a major heart attack that almost killed him. I was coming home to 3 children under 10 and shut off notices for everything. My dh never shared with me what was happening. He had a fine job we were poor money managers.He has never been able to go back to work since. Through God’s help and with no income at times… mostly we survied on 20,000 a year social security with a mortgage. We became totaly debt free including the house.I homeschooled my kids took care my dh and we got out of debt. I left so much out but it was an incredible time for us. I felt like I was playing a game and winning it financially. We have stayed out of debt 7 years and are looking forward to prosperity. Time to move forward. I am now starting to teach others how to get out of debt.I am so looking forward to all of your advice…..and suggestions as I have only my limited experience to go by.

Do those PLUS loans have deferred payments, like student loans? I think those PLUS loans were for parents. I can’t believe how expensive school is now. When I went, it was only a few thousand a year for a Cal State school, not including books and rent, etc. I know it’s not good to take on additional debt, but if it would help alleviate some of the pressure off of you now, it might be something to consider. Your girl is obviously a hard worker and my hat is off to her because I never worked that hard in the beginning. You must be a very proud mom!

Also, here is a video on balance transfer:

BTW, don’t you love how the financial aid office always tells parents how much they are expected to contribute? My mom was a single working parent of my 2 younger siblings, barely stretching her paychecks and there was no way she could help pay for college. They’re like “Oh, you make this much money….. no, no, we don’t want to look at your list of outgoing monthly expenses”.