We are not our debt, debt is something that happened along that way. We need to take that debt and look at it objectively and realistically and don’t beat ourselves up about it; while at the same time we sort it out and figure out the best way to deal with it.
The most important thing to do is figure out where you can cut back on expenses on a daily basis, look at your daily expenses; and that goes for everyone in the family. Come up with all the daily “goodies” you can live without, make a list of them. Then list all your monthly bills and see what can be reduced, eliminated and modified. This should be a family affair so that everyone can see that everyone is modifying expenditures.
Start coupon clipping, take advantage of mid-week restaurant specials, shop for sales and specials, make your own lunches, use the library for books, videos and magazines, take shorter showers, turn off lights, unplug not in use appliances, get low energy light bulbs, turn the air and heat down, organize errands, revamp cable service and phone service; just look at all of your out go and as a family see where you can cut back.
Call all your credit cards and see if they will reduce their interest rates, or see if they have a zero interest rate promotion.
Vacation in your own yard and invite friends, neighbors and relatives over for a theme party and have everyone bring a dish that compliments the theme. Celebrate birthdays, anniversaries and other special occasions the same way and all together, rather than separate functions and going somewhere.
Check to see if you can downsize your car to something less expensive or more environment green. Ride your bikes more if you live in an area that works, bikes can be ridden to the store for last minute shopping items, to a friends house, to church activities and if not, encourage carpooling as much as possible.
Recycle as much as possible and turn in what is payable for cash and put it into an entertainment fund. Go to dollar night movies and eat right before you go so theater snacking isn’t a temptation.
Whatever you do don’t panic or ignore it and hope it goes away, be realistic and aware. Know this does not make you a bad person to have money and debt issues, it is just something that happened while you were doing life and now you are going to become aware of it and figure out the best way to handle it, as a family together.
Tags: credit card, debt, expenses, family budget
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