Does anyone get discouraged?

as143ks · **Does anyone get discouraged?**

I feel sometimes as if we will never be out of debt. I know we will (have all CC and car our debt than the minimums and are starting an e-fund. DH has a IRA that he has had since he was a child but has not contributed to it for a long time so we have to get on that. I have a 401k at work and am contributing what my employer matches but of course would like to do more. I just feel that if we got all of this debt out from under us we can start to really enjoy life and prepare for the future. How do you all get through this? Does anyone have inspirational stories about having a good bit of debt and how long it took you to pay it off and how you did it? I am looking for a pick me up. Thanks!

desertmom · 06-28-2007, 12:45 AM

I noticed you are a new mommy...remember that your hormones are still a little messin' up right now...try not to let anything, including $ get to you...it can ALL be worked out, and lack of sleep and good food do make everything seem bad.

You will find some good, inspirational stories here - read posts by Newlywed, and others will talk about how they have paid their debt down or just improved their lives by making the right choices. This site will be great for helping you. (Go for those samples and freebies - they are a great lift when they come!)

Now, try to get some sleep, MOMMY! Adorable baby!

as143ks · 06-28-2007, 12:49 AM

Thanks desertmommy, I guess I did forget about hormones! I know I need to chill out about it all but with a baby I realize that it's not just about DH and I anymore. Girl, I wish I could get some sleep but I am at work! One of the blessings in my life is the fact that I can work at night and avoid daycare costs and DS is always home with one of his parents. I should definitely count my blessings for that!

KathrynHannah · 06-28-2007, 07:49 AM

Welcome to the forums .. your baby is beautiful!

I also get discouraged. Right now I'm really discouraged. I am generally a very positive person ... but the last few weeks have been really hard and we've been feeling the financial pinch like never before.

When I get discouraged I find it helpful to read books on the topic. I usually find I learn something that I can put into place to change things around a bit. In terms of frugal advice .. I often find the best advice on Mommysavers. In terms of getting out of debt, investing, I've heard great things about Dave Ramsey. His book is next on my list. I also read a lot of David Bach's ~ The Automatic Millionaire & Smart Women Finish Rich. These books help me to see the big picture when it comes to money. The other one that is great is Your Money or Your Life.

I hope that helps. Ask as much as you like. This board is full of encouraging, supportive, and very wise women. So many of me have inspired me not only in finance but in other areas of my life as well.

Kim · 06-28-2007, 07:55 AM

I'm sure when you look at a pile of bills and a mountain of debt it's bound to be discouraging. First, set up a plan to get the debt paid off. Then do the baby steps each day, week, and month to whittle away at it. As long as you're doing that, the debt will take care of itself in time. Then, once your debt it paid off you can use whatever is left over to start contributing to retirement and building wealth. Don't focus on the debt, focus on what you can do to create financial success. Celebrate your victories, don't dwell on your defeats.

angelhair · 06-28-2007, 08:21 AM

Remember that you didn't in debt overnight and you wouldn't get it paid off overnight. Just take it one step and a time. THe best book I think to read in both of Dave Ramsey's or go to his website. I have been doing his baby steps (paid off all cc that was over $5,000 on them in less then 6 months) and have three more loans to pay off (other then the mortgage) and we will be debt. A blazer loan have $9,000 left, school loan $6,500 left and RV loan $10,000 left. We have been working on the blazer loan paid off $3,000 in three months, hoping that we can do another $3,000 in the next three months, but property taxes are coming up and that is more important then paying down debt.

So sit down with DH and do a budget and see where you can cut some things and add that money to your debt. Start with the smallest balance first add any extra money you can squeak out of your budget to that debt and pay minimum on the others. When the first debt is paid take the $ from the first debt and add it to the second smallest along with the minimum that you are paying and see the balance go down fast.

Good luck and enjoy that little one they grown so fast.

searching4 · 06-28-2007, 08:26 AM

I know exactly how you feel! I feel totally sick right now because of all the debt we have! It's like we make a step forward and a bit of hope starts to grow and then whamo...something else happens to put you back down again! I'm just so tired of it all

! I am thankful for Mommysavers and all the advice I get on here. I have been trying to cut our spending expenses the last few months and have made some improvements but the baby steps seem so small, like they are never going to add up to any amount of good. I'm scared! My hubby works for himself (fishing) so the pay is never the same. Lately it seems like he is working more and more, harder and harder but it seems like we are not getting ahead. In his business it's all a money game. The buyers are in control. Lately it just plain sucks, the prices they are paying. I hate the thoughts of winter coming because he will be on unemployment and then the scrounging for money really begins! I need some encouragement too...maybe it PMS talking

!

SAHMto3boys · 06-28-2007, 08:51 AM

I know how you feel too! We were doing so good paying off debt, but we weren't really watching our spending! Our total credit card debt has seemed to stand still! I paid off some, but then it seems every month we put on as much as I take off at this point!

And my debt free date seems to get further and further away each month!

THEN I found this site!

In the 1 or 2 short weeks that I've been on here I've already come up with a new plan to tackle the way we do things. My husband now takes out cash on mondays and I go grocery shopping! The leftover is split between us for spending money! We've only done it one week so far (i'm new, remember) but I was thrilled with the $112.50 I spent on groceries. Plus I've been cooking every day this week - something I usually try to get out of - and they've been pretty good & healthy meals! Plus I just realized that he's not going to be home for dinner 2 nights later this week so I'm rolling over a couple of meals and I can't wait for next weeks shopping trip - it should be REALLY cheap!!

The things on this site that have helped me the most was the "Grocery Challenge"! It's changed the way I look at my grocery shopping. Also hearing so much about the Angel Food Ministries - I'm doing it in July! (if I can remember to sign up in time) If you haven't heard about that one you should check it out! And of course Dave Ramsey! EVERYONE raves about him! I went out and found his book - used! So I'm gonna start reading it today!!

Stick with it - it sounds like you're doing fine so far! Find inspiration in these message boards and enjoy that new baby!!

Denvergirlie · 06-28-2007, 09:37 AM

It's a process, I'm still in that starting phase, but I am working at it.

I got serious and now at least have a plan to get it gone. It's not going to go away in a matter of weeks or even months for us. But it should all be gone before the start of 2008. That sounds so long from now, but I do get a thrill each month when I see my statements drop.

I focus on all the things I can fund once this debt is gone.

Another plug for Dave Ramsey as well.

ember15 · 06-28-2007, 10:24 AM

I agree you find tricks that work for you. I am still heavily in debt but am finding ways all the time to cut my budget to the min. Personally I don't see the debt being gone for a long time. If we could get the CCs paid off well then it would mean getting the car paid off and by that time some other expence will come are way. You just keep plugging away and someday it will be gone. Yes I see it taking years but at the same time it is not dragging me down. Take some time enjoy what is important in life