Friday, October 13, 2006

$25K in Credit Card Debt - I am getting a handle on it all

Hello Everyone,

Today I realized that my credit card debt is absolutely AWFUL! I have to do something about it ASAP or I will be in trouble very soon.

History: I have never been great with credit card debt. I was always able to pay the monthly minimums and it just kept getting worse and worse. My Wife and I got married, had our first child and we decided she should stay at home. (Great thing for our child - Not great thing for our spending habits) Long story short and two beautiful children later - we have approximately $25,000 in Debt* My Wife and I are also planning on going thru a divorce within the next year (yeah - more problems to add to my plate - she is "not happy anymore")

*Not even sure if that is close to the number anymore. I assume it is nearby that number and this blog will help me figure it all out. I am committing myself to update this blog weekly if not more often. You'll see my numbers, my plan, and how I deal with things.

I am open to all advice, good or bad in terms of debt, divorce, and finances and anything else you want to share with me.

Thanks again for listening!

I need to do something quick....


Blogger Dawn ... said...

My hubby and I have been in the same situation as you and your wife.
It can get really hard ... but, you really have to try to turn towards each other, and not away from each other.
Put the divorce plans on hold and start talking together.
Communication is the answer to the financial and marriage issues, more than likely.
You both have to try to get to a place of forgiveness for the mistakes that you both have probably made.
Remember, we can't change the past. It is done and over.
The only thing you can do is work on today and plan for tomorrow.
Another lesson we have learned through all our therapy and 27 years of marriage is let go of trying to control each other.
The only thing you can each truly control are yourselves and your reactions to each other.
Also another important thing we learned, is each of us are responsible for our own happiness.
You can't make her happy.
She can't make you happy.
It is your own job to be happy.
You guys need to approach this as a team.
Please, please give yourselves some time to get out of the mess you all are in.
Hey ... the debt, two little ones, gosh that's a lot.
But, you guys owe it to them kids to work on this before you give it up!!! God Bless!

6:17 PM  

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DISCLAIMER: I am not a financial advisor. This blog is a way for me to hold myself accountable. While I share some of the methods I have used, I do not guarantee that it will work for anyone else and if you try them - it is at your own risk.