I can feel the stress all over my body. Out of money, bills to pay, what bills to pay first, what is the most important right now? My dog needs to go to the vet. I can't seem to get rid of worrying about money money money. Food is an easy way to spend alot of money. There are only two of us, but needing to keep nutritious food at home is important. When it was just me, I could live on a tortilla with butter, in the oven. Or just cheap food. But with a young son that is growing and needs 5 fruits and veggies a day...etc...it's getting way to expensive to live. is it just me that lives paycheck to paycheck?
constant state of stress
June 30th, 2008 at 09:31 pm
June 30th, 2008 at 10:06 pm 1214859995
You want to prioritize your expense. Shelter, food, utilities, car, loans, credit cards, etc.
You may find you need to cut things. Sell your car to get rid of the monthly payment, take your son out of private school, put the student loans on hardship deferral, etc.
I would also stop the 401k for now. You have to have a good foundation first.
It will be hard, but you can do this.
June 30th, 2008 at 10:12 pm 1214860350
June 30th, 2008 at 10:20 pm 1214860829
June 30th, 2008 at 10:29 pm 1214861364
June 30th, 2008 at 11:18 pm 1214864337
If you don't do it now, you're going to get much deeper in debt. If you do it now--even if you don't make much progress on it, even if you go a bit more into debt initially--you are giving it a name, and an amount, and announcing your intention to not let it grow any more, not let it swallow you.
Welcome and keep posting, even if you're not ready to do your debt totals yet! Blogging has really helped me stay focused.
June 30th, 2008 at 11:52 pm 1214866337
As for your situation - everyone has had good suggestions. If I were you, I'd stop the 401K, see if you can defer the payments for your son's private school (even a month), and pay first things first.
I know it's scary (believe me, I know!), but the minute you write all your income/debts down, you will feel much more in control. Even if you have to go into more debt, you will know where you stand, and you will "feel" every move your finances make. Also - start tracking your expenses. It helps me to really think about whether I "need" something, or just really want it.
I wish you the best of luck, and I hope you will keep us posted!
July 1st, 2008 at 01:13 am 1214871192