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Thread: Anyone in debt?

  1. #1
    Expert Forum User The Ultimate London Mom!

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    Default Anyone in debt?

    From being on Maternity leave we have racked up some credit card debt and I hate it! I guess I didnt budget correctly, but we also had a flood and some travels we had to make and this racked it up quickly. I wonder if others have consumer debt and if so are they just used to it? I can't stand it. I loose sleep and am going back to work sooner in order to get rid of it!

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    Expert Forum User The Ultimate London Mom!

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    Yep, in debt as well and hate every moment of it. I am a SAHM and we live on just 1 income and I find it hard to do it all! If it wasn't for owing on credit cards, I would have a bit more money leftover each paycheque. We try to pay down as much as possible, which is far more than a minimum payment because I hate the interest portion of it! We have transferred debt owing over to our lowest interest rate card well it's good at the rate it's at until the end of the year anyways and then we'll switch it to the card which happens to be the lowest rate at that time.....We'll get it paid off at some point. It's just a matter of when! I am finding in this day and age with the cost of everything around us going up, I am having to use my credit card more often, simply because I just don't have the cash leftover after all is said and done, etc.

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    We have a small amount of debt we're working on eliminating. I try not to worry about it to much...but its hard. Its easy to get yourself into trouble in todays society.

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    Aren't we all in debt???!!!! lol. My husband and I have two student loans well over $20,000 each (needed in order to go to university b/c our families were not well off). Plus we own a home and a vehicle. I used to lose sleep over it and then realized it wasn't worth it. I pay our monthly payments every month and try not to worry. As long as it is good debt then you can't do anything to change it. It is a fact of life. One day we will be debt free........but until then, keep positive!

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    I have OSAP... still paying that off! Then we have a Line of Credit that is low interest that we're paying off.

    Like the others... someday we won't be in debt!

    -- Delia --







  6. #6
    Senior Member julia's Avatar
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    Nope, not all of us! We used to be and I hated it! We do have a mortgage and 2 brand new cars, but that's it. We have a small credit card limit and I like it that way...it gets paid off every month. If we need to make a big purchase we use debit or put more cash on our cc.

    (I am also a SAHM if that makes any difference)

  7. #7
    Expert Forum User The Ultimate London Mom!

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    We just had to purchase a brand new furnace and air conditioner and that was almost $7300 (well, we get $2000 of that back from gov't in rebates since they are high eff which are replacing our old stuff), I just started up a home based biz and had to fork out money for that, we have recently had to purchase brand new sets of tires on 2 vehicles too and that was costly, as well as a # of other things, including a window, etc. These are simply things I don't have the cash to outright pay for. The house we live in, the mortgage we pay on it and the fact we have just the 1 income do it all on....money only goes so far you know? It's all relative to what a person makes as well, just something else to consider. A person may be able to be a SAHM but that is going to depend on the amount her husband makes, the cost of the mortgage, etc....it's all relative and ultimately how much debt they may be in due to these other factors. I am a SAHM but I am just able to be one, if you understand? We pay all of our bills, gas in 2 vehicles every paycheque and put groceries in our tummies but we simply don't have much spending cash leftover at the end
    Last edited by 2boysmom; 06-09-2008 at 06:33 PM.

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    Expert Forum User Siana's Avatar
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    Business debt, and mortgage. Both are fairly affordable, though I too really, really dislike debt. When we move, I'm going to have to get used to more debt ):
    Mama to two
    Etsy store: Merry Medley

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    Most people these day are in some knid of debt. We are too and pounding at it to get it all paid off.

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    I think I'm really just used to it now... we have a new mortgage, DH's student line of credit, and a car loan (unexpected, thanks to the &#*^$ who smashed my car and forced us to buy another one). We used to have tons more student debt (thanks to grad school for us both), but our financial advisor worked it out so we are paying it off quickly. Aside from the mortgage, we'll be free in under 5 years.
    Last edited by AuntPetunia; 06-10-2008 at 02:14 PM.

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    i am looking at buying a house soon but i have horrible credit when DF and i moved from Alberta 2 1/2 years go everything was on credit cards and they are now all in collections but looking at consolidation loan and then i should be clear in about 5 years



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    My husband and I had some debt but no longer do. We were quick to use credit cards and "don't pay for ...." deals but now we tend to think twice about what we buy and use cash for everything. It is quite liberating to use cash instead of credit! We use credit cards to book hotels/trips/purchase online etc but we pay them of immediately.
    Ethan&Carter\'s Mom

  13. #13
    v.ridley
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    I am doing ok. Nothing major - home, and OSAP - however, I recommend to Anyone/everyone to meet with a financial advisor. most are free to the consumer, and they can help you look at your finances to make the best decisions about money - what/how to pay things off, where to put money etc. Money is the one thing most people know so little about, however, it's the most important thing you should understand. once you understand money, you can make it work for you whether you owe, have no extra or have a little extra, meet with someone who can help you. Money and debt shouldn't be secretive, and waiting until you are in big troube, can be a big mistake! If you want the name/#of someone who may be able to help you meet you needs, PM me.

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    We have a little but nothing serious. I have a house, car, water system and owe about 900 on the credit card. So yeah that wont be hard for us to pay off. We are very careful about how we spend our money and always make sure the bills are paid before spending any money.
    April - Mommy to Ivy, Sophia & Ryker


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    Expert Forum User Hame's Avatar
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    I don't have any debt due to Bankruptcie It was the hardest descsion I had to make.

    I also went back to work early


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