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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: HELP – CC Debt and Desperate||Date: 9/16/2008 1:11 PM|
|Author: llambe||Number: 278493 of 308999|
IMO - you need to focus on that big huge grocery/household/misc/cash amount first before worrying about the small change. The grocery amount is so big that it's really like having another misc category.
Here's a different breakout of your spending:
Obviously you (and DW) need to be the ones to decide what in the last category gets funded and for how much but I've put in some suggestions. And cutting things like cable etc that people suggested will give more money here. BUT this last section can't be MORE than the money left otherwise you're growing your CC debt not shrinking it.
And the bigger the final remaining number the bigger your snowball and the faster you get rid of your debt.
Then you need to actually control your spending. This is where the envelope method is excellent - because once it's gone it's gone.
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