Question

Hi everyone, I’m trying to buckle down and clear our credit card debt before August. That’s when I’ll resign from my position and work part time at most. l to go through a nursing program for a year. We’ll be losing 1800 a month so I am trying to offset the cost by paying down our debt and taking baby steps towards financial freedom. We currently have 16, 000 in credit card debt (yes, I’m aware that’s a lot) that I plan on knocking half out with my taxes and paying on the rest until we get it paid off. I’m hoping to at least get it down to 3, 000 before I start the program. I’m trying to get strict on not eating out and shopping sales. Our grocery/food bill is probably our highest because of always ordering in or eating out. Anyone recommend any podcasts for budgeting? Also the top 3 tips that have helped you?  

Answer 1

1) meal plan meal plan meal plan! That'll help keep your costs down and it saves you from resorting to eating out because you already know what you're going to eat that night instead of having to figure it out when you get home 2) schedule a day every 1-2 weeks to go out to eat! My husband and I budget for one meal out a week because we love to go out to eat and it's also nice to get a break from cooking 3) TREAT YO SELF. Budget in money for personal spending. This really helped us avoid splurging and getting burnt out because we were still able to buy things we wanted when we wanted (for the most part)

Answer 2

My husband and I listen to Dave Ramsey's podcast. I really like Rachel Cruze, too. Tip: when you want to buy something, wait till tomorrow. You probably won't want it anymore. Also, when it gets hard, remember WHY you want to get out of debt. And if you can't find the motivation, figure out how much you are accruing in interest daily. My husband finally jumped on board when he realized we were paying over $8/day in interest