Reply to Earning Well but Drowning in Debt...how to dig out?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am just stuck on the fact that 2 children in daycare barely getting home by 6pm are in activities after that.

Even if they were not in 50k of debt I don't get this.

And a family that eats out (restaurant, take out, order in, whatever) 3-4 times per week is bleeding a serious amount of cash.

It's fascinating to me how obvious this is to everyone but the OP.

[/quote]

Op here. Yes, one child has music lesson after school pickup. The other activities are on weekends. And we don't eat out 3-4x week. We eat out or get carry out or pizza 1-2x week. Twice if DH is traveling and I am doing all the pickups. But that is something that can go. The music lessons cannot go bc of DCs commitment and dedication to it. This isn't a kid who grudgingly goes to piano lessons, but a kid whose music teacher at school flagged him as gifted, which has proven true thus far. Also the issue with camps.... Music camps aren't cheap.[/quote]

You said 1-2x/week plus once more If DH is traveling plus one night you all go out to eat. That's 3-4. And you listed 3-4 activities like Tumble Gym and soccer (something like that) in your OP. If you can't be honest with yourself, this is not going to work. You can do this!
You haven't listed your budget yet.[/quote]

We do not eat out 3-4x week. I wish we did. But we don't. We do eat out or get carryout or delivery 1-2x week. Typically 1x. Occasionally 2x if DH is traveling. Yes we do other activities. And I agree that the music together class and soccer/dance can go for the other two kids. It's the oldest kid who is the musician and takes the after school classes. And it would be unfair and cruel to take that away from him. The younger two I have no concerns about. [/quote]
And why do you need summer camp for 2 kids?
And don't you count going out to eat once a week? That counts! Especially with 5 people at a restaurant.

If you spend the time you used to spend on activities on shopping and meal prep, that's a start. You just have to funnel all that to credit card. I would deplete your emergency fund to 1 month, put it towards the CC, plus the amount you are saving from activities and ONLY doing 1 take out/orderin/restaurant meal per week and put that towards the CC.

And then like a PP said when that is gone snowball that towards the car. I woul seriously consider getting one car that is just a commuter car that won't fit 3 car seats. We have one car that is an efficient commuter car that fits 1 child and if we need to do a family thing we take the station wagon with 3rd row.
If you are alternating drop off and pick up you don't need 2 cars that fit 3 car seats. Doesn't everyone do this?

So pick a vehicle and get rid of it for a little commuter car.

What are the car payments?[/quote]

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