This topic contains 3 replies, has 2 voices, and was last updated by 8 years, 5 months ago.
- May 14, 2011 at 10:02 am #212016
I have a debit card but some places require a credit card. I tried to rent a car and they wanted a credit card. I would get a credit card for this type of use only. I hate banks. And I think that credit card companies are a bunch of crooks. If I got a card I would keep a zero balance on it. Would they charge me fees for not using it a lot and/or $0 balance?
- June 26, 2011 at 6:44 am #332459
You are not a loser at all. So many Americans fall into the same debt trap but there is hope. My wife and I only had part time work and we paid off $ 23,000 in a year and a half. You can do it too I promise. Don’t give up. I know it seems as though everything is falling apart but when we thought we were done I read a book by Dave Ramsey called “The Total Money Makeover” and he lays out some simple steps.
Don’t listen to the guy below. Get another job if you have to. Don’t file for bankruptcy. Make the creditors do it. Don’t volunteer to do it. The gentleman below has no idea what he is encouraging you to do. File for chapter 7 and you not only ruin your credit report but every job you apply for is going to know about it. Making it even harder to get work. The guy below has no evidence about “Dave Ramsey is crazy” other than libel. Dave Ramsey says pay cash for everyting. Does that sound like bad advice to you?
Get another job if you have to. Call your creditors and work with them.
I’ve proven that the Dave Ramsey plan works. I’ve seen people with hundreds of thousands of dollars get out of debt. You are not done yet so don’t let people trick you into giving up.
Set up a budget. You have to know where every penny is going.
Cut expenses. Cut everything down to the bare bones.
Save $ 1,000 for an emergency fund.
Start paying off debt like your life depends on it because it does!!!!
There are other steps but these are all you should focus on.
Get on track with your creditors. I would highly recommend the book as it will inspire and show you the way. I’ve been debt free for about 8 months now. It feels great.
I’ve seen people in way worse situations than yours so please don’t give up.
Edit: When I say cut expenses I mean really cut. My wife and I cut our cell phones down to the bare. We rented one redbox a week and that was our “fun” budget. We NEVER went out to eat and we sold so much stuff it was unreal. I’m sure our kid that he was going next. I have helped a lot of people get back on the right path and they tell me they have cut to the bare minimum but when I have them lay out there budget I always find hundreds of dollars in savings that they could do. We spent (family of 3) $ 75 to $ 100 a month in groceries. We ate plenty but we bought cheap and ate everything we made.
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