Tinker
When you hit rock bottom... the only way is up
Posted January 25th, 2018
Well we've got ourselves in quite the pickle. Completely self induced. We've been reckless, have spent more then we earned for a year now and the chickens have come home to roost.
We have 2 credit cards maxed out and a personal loan. We tried to consolidate and got knocked back by 2 different banks.
After sleepless, crying nights I've pulled up my big girl pants and am going to get stuck into the debt. The only way is up now. We made our bed, now we have to lay in it.
I have started this blog as a way to stay motivated as the only way I think I can is to see any small progress. Otherwise it just seems so overwhelming.
Step 1 is to get all our bills up to date
Step 2 will be to build an emergency fund of $1000
Step 3 will be to chip away at the smallest debt first
SO starting point (cringe, cringe, cringe).
CC1 - $6000
CC2 - $6500
PL - $17,423.55
Total - $29,923.55
Bills outstanding:
Rates $466.23
Water $219.65
Mob 1 $132
Mob 2 121.96
Rego $495
CC1 pmt overdue $95
CC1 pmt $120
CC2 pmt $120
Total $1,769.84
Ways I am hoping to achieve this...
- Cut down our grocery budget
- Try and reduce our utilities
- Try and reduce my mobile plan (contract should be up soon)
- Try and reduce fuel
- DH work overtime
- Me work extra shifts at my second job
- Write down everything we spend
- Sell anything we can
- Stick to a very strict budget
- Keep a record of every way I try and save money / reduce costs / etc every day
- Shop second hand for anything we 'need'
- Re-read the complete tightwad gazette, re-read old simple savings posts about savings, etc
Blog Posts by Tinker
- When you hit rock bottom... the only way is up
- Re-thinking take away
- Simplifying my life - chickens, veggies & leaving the daily grind
- And then the SS way of life just clicked...