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

January 2018
  • When you hit rock bottom... the only way is up
June 2015
  • Re-thinking take away
September 2014
  • Simplifying my life - chickens, veggies & leaving the daily grind
August 2013
  • And then the SS way of life just clicked...