We started saving all our extra cash and putting it into savings last month. We are paying all our bills but went back to minimums on the credit cards. My husbands job is safe at least until August and at this rate I can have $10,000+ saved by then. My theory is that even with our great credit the cards have all jacked up our rates to pay for those who are defaulting. If something happens to DH's job I'm more concerned about feeding my family than what a bankruptcy would mean to my credit. I guess I've adopted a take care of my own attitude because of the bailing out of everyone else. I see all these banks living it up and our government spending out of control and I just don't want to let go of any of my money towards paying for that type of behavior. I'm tired of paying for other peoples mistakes and want to make sure if anything does happen that we can keep our home and family safe and screw the rest. Does anyone else feel this way? I figure in August when we see how the economy is going and how DH's job is then I'll have my emergency fund in place that along with unemployment would keep us ok for at least a year then I can go back to paying more and trying to pay off the debt. Has anyone else moved to a family first debt/economy last lifestyle like this?

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I wish we had extra cash to save...they cut my dh's hours and we've already cut out everything we can think if but we just don't have any extra $$$ right now to save. Good for you guys though..I'd be saving too!

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Ya, I'm struggling with this. My husband has been laid off for some time now and my gut response has been to bank all of our extra money and ignore the bills. Logically I don't think that is the best choice for us but it is a strong desire that I have been fighting.

We are in the exact same situation except we are also behind on most of our bills now due to dh's cut hours. I would love to be saving and I think you are right to do what you are doing AtHomeWith2!

I agree that all lenders, just not the credit cards companies, have made it easy for people to get loans and default on loans, due to the economy.

But people should have known that if they used those cards or got those loans, than they would have to pay them back sooner or later.

And when they didn't, that is when all of us as taxpayers are doing with the bailout. We are paying for other peoples bad management of money.

A lot of people, don't realize that just because you got a credit card in the mail, means that you have to use it.

Sometimes we all have to pay for other people's bad choices.

DH and I own our home free and clear, have no car payments, no credit card debt, but our taxes are helping bailout the loan companies, just like you are.

Also we both have lost over 25,000 each on our 401K's, but at least we do have a roof over our heads and food to eat. Which is more than some people have.

Actually, I am saving money but I am trying to pay down my debts fast. I used some of my tax money to pay them off and am taking off chunks month by month.

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I dont have credit card debt but do have other debts. I am holding all the money I would normally "snowball" and just piling it up. I began saving it up to pay off my car loan (should be fully funded in March) but I am now considering just paying my car payment out of that $ and just holding it, just in case. My DH was laid off in November and has not been able to find anything thus far.

Cash is king!

I figure I'll sooon be paying back those CC debts with inflated dollars so I'm not worrying too much about it right now. We're still working on paying off our mortgage, though. We're about to break even between being able to deduct the mortgage interest and the standard deduction anyway.

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we have very little dept but i would say making sure you have a good savings to fall on if something was to happen is more important then your credit score

that you could always re build if things picked back up

we do use a bank and have a few savings accounts and checking accounts but i feel more comfortable with my money in a safe at home then a bank and if things get aolt worse i will put everything in the safe and only use the bank to pay bills and have exactly how much i need in there.

No, I would never think to do that. Personally, I am paying as much as possible to pay off our debts. I made the debt, I should pay it back.

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