Hey guys,
Debt is a real epidemic in this country. Some people even commit suicide over it. Many people DO NOT talk about it because their embarassed. This is something we all should talk about AND teach our teens about.
When I first married my husband he was $20K in the hole and NOTHING to show for it because of a repo and nasty credit cards. We DID NOT have the money so I called to ask if they would settle. Most of them settled for at least half of the amount that I owed. I DO NOT recommend this if you are planning on taking out any credit or getting a house soon. I asked my mother if she could let us borrow against her cds for a lower rate to cover the car repo debt. We were able to pay everything off within 2 years and after 3 years had $20K for a downpayment on a house.
We did it by living within our means. We have been brainwashed into thinking that we need so much. The truth is that lower income people SAVE more money. I turned off cable and used the internet for tv and netflix instead. We shopped at Aldis and I only bought the extra stuff like clothes and toys on holidays. Just like a DIET, we have to change our lifestyle.
You need to write down your goals and how much money every month it will take to achieve them. Pay those debts FIRST! |