Live Like No One Else…
Hi folks! Sorry it has been so long since I have posted anything, but I finally have been scheduled more work hours. Financially, this is great, but add homework, college classes and the kids to the equation, and it gets a little messy. I’ve been having to wake up at 4 or 5 am all week to get to work. I am constantly repeating Dave Ramsey’s phrase, “Live like no one else, so you can live like no one else.” However, how long can I continue on like this? It’s only been a few weeks and I am already beat. Our debt is so huge that it’s going to take ten or more years of gazelle intensity. It is really discouraging. By that time, our kids will be grown up. How does one stay motivated?
We are keeping up with the budget, but we are still unable to pay the minimums on the credit cards. The annoying calls from the credit card companies are starting – no angry people yet, but I’m expecting it to happen eventually. One good thing is that DH and I paid a whopping minimum payment on our largest student loan – $774. We cannot continue to have it grow and gain interest. Of course, this means that our grocery budget will have to be cut even further. Sigh!
To stay motivated I am trying to get plenty of sleep, take my vitamins (especially vitamin D), and eat lots of fruits and veggies. I’m sure things will get better once I graduate in June. I just have to keep on truckin’, people. 
Yeah, June is on the horizon and we’re getting closer every day. The hours of light are getting longer, the days a little warmer, the buds are already on the trees. You’re doing great work. Hang in there!!
I feel you…It’s sucks when you are forced to continually cut the food budget to stay afloat. We started our budget this month and two paychecks in I have contemplated giving up, numerous times! “You’re not alone – the end result we be will worth it.” – I have to keep telling MYSELF that:)
Thanks Pat and sahmCFO. I actually feel a little better after running 3 miles this morning. I needed to get out some of that stress! Now I’m spending the afternoon doing science experiments in my kitchen for a class. I get to make a souffle for the first time.
Have you thought about bankruptcy? It would seem that your case might warrant doing that and could cut down your stress level and give you a little breathing room. I’m sure you have already thought through every angle. But I was just curious what your thoughts were going that route.
Darren, we did think about bankruptcy. We really thought about all the pros and cons. First of all, our primary problem is not our credit cards, it’s our student loan, and student loans aren’t covered under bankruptcy. So even if we wanted to do a bankruptcy, it wouldn’t even do us that much good. I really think of it as a debt management tool of last resort for folks who are in danger of losing food and shelter – at least it should be. Secondly, we’re actually in no danger. I have a decent job that so far as I know, I will not be losing anytime soon. We have a budget that so far we’ve been able to follow without the need to use credit cards (but we’re also not paying the minimums). A likely worst-case scenario is our student loans will go into default. To be honest I have not fully thought about the consequences of that happening. For instance, I am aware that my paycheck can be garnished, but to what extent and under what rules and regulations, I’m not sure yet. However, I do know that there are a number of government assistance programs for families having a hard time paying down student loans. It seems to me that garnishment happens to people who have not done their homework to find such programs.
I gotcha. That does make sense. Sounds similiar to our case too. The student loans don’t go away. We are trying to pay our other debts down in order to try to make room to pay the student loans. Things could get interesting though. My wife is pregnant with our first child and she is due in June. So that will be some added expense so just have to prepare the best we can. But I have confidence that there are better days for all of us ahead. I’d be interested to know of the assistance programs. I’ve learned alot already from you guys. I was considering consolidating student loans with my wife’s but you guys saved us from doing that.
Yeah, June is on the horizon and we’re getting closer every day. The hours of light are getting longer, the days a little warmer, the buds are already on the trees. You’re doing great work. Hang in there!!
I gotcha. That does make sense. Sounds similiar to our case too. The student loans don’t go away. We are trying to pay our other debts down in order to try to make room to pay the student loans. Things could get interesting though. My wife is pregnant with our first child and she is due in June. So that will be some added expense so just have to prepare the best we can. But I have confidence that there are better days for all of us ahead. I’d be interested to know of the assistance programs. I’ve learned alot already from you guys. I was considering consolidating student loans with my wife’s but you guys saved us from doing that.