Mom blog, Mom life, Toddler Life

Ok…for real…How?!

Ok, I must ask an extremely important question that has been weighing on my mind for several months and driving me crazy…

how on earth do you pay your credit card debt off if you have no money to pay said credit card debt off????

I recently just started part-time work in order to be home with my daughter more and so far, I’m loving it. I’m much less stressed and I feel refreshed each work week after a long, relaxing (kinda) weekend. But I’m trying to educate myself and do research on how to make ends meet on a much lower salary and every article I read is like…

duh… just pay your credit cards off. 

Ok, cute idea. Totally get it: start debt free to have less monthly bills and a better grasp on your finances. But how exactly are you all doing it??

Should I be using most of my savings to pay said debt off? Seems like an easy fix, except when I have no emergency funds, that seems like a scary solution.

I’ve cut down on so many things- Cut a day of daycare out, reduced cable bill, switched phone companies, cook more in bulk, clipped coupons, etc…

… but still thousands away from being debt free…

I hate the idea that all of this interest is being paid from my pocket.


Tell me your ways…!!!


17 thoughts on “Ok…for real…How?!”

  1. The Personal Finance Reddit community is very helpful! They have a few FAQ documents and then they also give advice on individual plans.

    Here is a link to a helpful article about paying down debt:

    I am far from perfect in this area! You are not alone! I try to do free activities with my kid as much as possible. Library, civic events, playgrounds. My new at-home hobby is repurposing things I don’t like or use anymore into something my kid will use – recyclables into kid craft supplies, an old shirt into doll clothes. Not much but keeps the entertainment budget low.

    Liked by 3 people

  2. We followed Dave Ramsey debt snow ball strategy. It’s been 3 years but we’ve paid off30k+ in credit card and student loans. We only have 7 left to pay off. It’s hard, but I highly recommend his books and strategies.

    Liked by 10 people

  3. Not to sound like a broken record, but yeah, Dave Ramsey. You don’t have to buy a bunch of stuff to do it either, just google him and his 7 baby steps. Good, common sense solutions that if followed, may not magically fix every problem, but will never hinder. Also, for the record, and in response to other comments, it is literally physically and mathematically impossible to borrow your way out of debt. Taking, refinancing, or extending a loan in order to make things feel better is NOT a solution, in fact, having finances feel better and easier than they are, usually makes you pay less attention and get yourself in deeper. The first step to getting out of any hole is to stop digging. Good luck, it feels like a long hard struggle, but you can do it, you really can.

    Liked by 4 people

  4. I paid more than minimum every month until it was paid off… I keep a tight budget and just budget in what extra money I could… Once card was paid off I only use it for gas and pay that off each month it helps keep my credit good but keeps me out of debt I pay it off before the billing cycle so that I don’t have to pay interest…. hubby was in bigger debt than me and had multiple cards so he paid minimum on all but one and paid extra on that one each month until it was paid off and then moved onto the next card and did the same… Good luck for me it takes a tight budget and an eye on the goal of debt free… I’m going back to school and taking more loans but the plan is to have it paid off in 3 years…

    Liked by 3 people

  5. Yep, Dave Ramsey is the way to go! You can probably find his book at the public library. He also has a website and I believe he does podcasts and a radio show. All free ways to get his advice and information. I’m in the same boat so I feel your pain. Hang in there!

    Liked by 3 people

    1. Another thing (sorry, it’s still early here on the west coast), even when you do everything you’re supposed to do, it still takes forever to pay off debt. Everything listed in those “15 ways to get out of debt” articles, my husband and I are already doing, and it’s still a struggle. But hang in there! Eventually it will be paid off and you’ll be free.

      Liked by 2 people

  6. We never had a credit card in the first place.
    We only spent what we could pay in cash.
    We now live a lifestyle where apart from food, rent and bills, we basically do not buy anything big at all. A coffee out every now and again is a treat, clothes are second hand, and my partner makes wooden toys for our child.
    We are now 7 months in to neither of us working and just spending time with our daughter before she starts school, when we plan to start working again.
    I know this is not everyone’s choice of lifestyle, but we decided our priorities and have made it work for us.

    Liked by 2 people

  7. I watched a money advice show and the answer it gave was use savings to pay off debt as interest on debt is worse than interest on savings is better if that makes sense? I did this myself and understand the scary aspect but it’s also a complete weight off your mind! The credit card is always there as a back in in emergency situations

    Liked by 1 person

  8. It sounds like you are taking the right steps and totally capable of getting out of debt. Like other’s have shared: Dave Ramsey Financial Peace University. We were able to kill $47,000 of debt by living unlike everyone else until our goal was met. It was hard and kind of lonely, but worth it! It takes tenacity and focus. Simply stated: start with Ramsey’s debt snowball. The debt snowball says to focus on paying minimum payments on your credit cards/loans, and pick the smallest debt sum to pay off first. Pay over that each month; you pick how much above the minimum payment based on what you can live with. Once that debt is payed off, take the entire payment you where putting toward that smallest debt and roll it into paying off the next debt. Make sense? I’m not a financial advisor. I do think you are more than capable of getting to a debt free life. Oh, last thing, create a budget for your family and give all of your money a task. Pay with cash using assigned envelopes. Ramsey talks about this too. Hope this helps.

    Liked by 1 person

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