Reply to Make $200k, credit card debt, no savings

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We need to get a grip! We have no excuses anymore. We make enough money and still life paycheck to paycheck. We spend around $1500 a week on anything other than regular bills like rent, utilizes, car payments, minimum on credit cards… To stay on the budget I put together that would pay $500 a month over the minimum on the credit cards, and $500 a month in savings, we would need to only spend $800 a week on the costs we have more control over. Is that even feasible? There are only two of us. [/quote]

I’ve read your updates, and I think you can absolutely cut your discretionary spending if you’re determined to do it. I just want to clarify where you’re at. Are you  spending $1500/WEEK on discretionary? And talking about cutting to $800/WEEK? If so, why does a weekly savings of $700 only result in $1000/MONTH against credit cards and savings? The math doesn’t math.

I would make a spreadsheet to show where all the money is going and decide what to cut. All extra money goes to the high interest credit cards first. [/quote]

That's because we spend 1500 a week and get behind on other things, so if we spend 800/week we will be on time with bills and pay 1000 in credit cards and savings. [/quote]

Ok, so $800/week for 2 people doesn’t even feel like much of a sacrifice. What on earth are you spending all the money on?[/quote]

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