Credit card debt

[SAHMIL]

Trying to get out of debt on my teachers salary . DH started a handyman business so money not consistently coming in and he doesn’t want to take out a loan for it. We have a pretty big amount - expenses that accumulated when he was laid off . How do I do this ? I refuse to use up my savings because I am down to my last bit of money .


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[jgenie]

I’m sorry you’re going through this. I know it’s easier said than done but can either of you pick up extra work? Have you sat down and looked at your expenses to cut them to the bone? Have you contacted the credit card companies to see if they will work with you? Once you’ve done that, I would start by paying down the card with the highest interest rate and then move on to the next.

[SnuggleBuggles]

Bisous did it. Hopefully she’ll reply with ideas! Good luck!


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[gamma]

Dave Ramsey! I read his book, Total Money Make Over. 7 Steps that apply to everyone. I have been out of debt for over 20 years! I wish I knew about it when I was younger!

[bisous]

Dave Ramsey's method is what really helped us! He's great about getting rid of debt. We were very engaged in the process. We lived with only one car in Southern California for nearly a year to get it done and declined most social invitations. We were able to pay off nearly 15K in one year by doing a combo of saving, using the debt snowball concept, and working our side gigs to the max! For more info, definitely look into Dave Ramsey. Good luck!!