Anonymous wrote:Hope well! This thread looked familiar from a looong time ago and I'm the poster that got out of 100K in consumer debt in 18 months.

I'm happy to report that making a significant change in our financial lives have stuck around and we are in an even stronger position than the beginning of the year. It feels SO MUCH BETTER to not spend, than to spend and I don't feel like we are missing anything. We even took an incredible, cash funded international vacation this year.

This thread is too long to re-find you, but I remember you being inspirational! What are some of your tips and what was your HHI when you were able to save 100K in 18 months?

Hope well! This thread looked familiar from a looong time ago and I'm the poster that got out of 100K in consumer debt in 18 months.

I'm happy to report that making a significant change in our financial lives have stuck around and we are in an even stronger position than the beginning of the year. It feels SO MUCH BETTER to not spend, than to spend and I don't feel like we are missing anything. We even took an incredible, cash funded international vacation this year.

I wonder how op is doing.

We also had to examine our finances to find cuts. So far we've been able to reduce our expenses by a little more than 1K a month--cutting cable, switching to less costly phone plans, moving DC from private pre-K ($1600/mo) to a parochial one ($1000/mo), me coloring my hair at home instead of the salon, cutting all vacations, and so on. We're working on reducing grocery bills and all but the most occasional frill too. No fun, but it can be done. We drive nice cars, but bought them used and paid cash for them; we'd gain little by swapping them out now that they're ca. 6 years old and they are extremely reliable (what I think pp was getting at above).

Anonymous wrote:I love this thread, I am in the same situation, suddenly found ourselves with a brand new house and 4 months later expecting baby number 3, splurged on a mini van and with family that was helping and recently moved our daycare costs are more than we can handle. Spending roughly 2,500 a month that equals to 25k a year something has got to change.
We thought about selling our home and downsizing for a while, with over 100k in equity this may be our best bet.
I do not think I can sell my car and drive a beater as suggested by Dave Ramsey since I drive well over an hour each way to work.
Cant afford to be a SAHM and cannot afford to work

What does the distance have to do with it?

Anonymous wrote:

Anonymous wrote:I love this thread, I am in the same situation, suddenly found ourselves with a brand new house and 4 months later expecting baby number 3, splurged on a mini van and with family that was helping and recently moved our daycare costs are more than we can handle. Spending roughly 2,500 a month that equals to 25k a year something has got to change.
We thought about selling our home and downsizing for a while, with over 100k in equity this may be our best bet.
I do not think I can sell my car and drive a beater as suggested by Dave Ramsey since I drive well over an hour each way to work.
Cant afford to be a SAHM and cannot afford to work

You're pathetic. You refuse to make changes. You have to drive a certain car. Pathetic.

What a helpful comment. Does calling strangers on the internet make you feel better about yourself?

Pp, there has to be something in all of the previous comments you can do. Keep in mind , it sounds like you may have three kids all in day care which will be going away soon.

Anonymous wrote:I love this thread, I am in the same situation, suddenly found ourselves with a brand new house and 4 months later expecting baby number 3, splurged on a mini van and with family that was helping and recently moved our daycare costs are more than we can handle. Spending roughly 2,500 a month that equals to 25k a year something has got to change.
We thought about selling our home and downsizing for a while, with over 100k in equity this may be our best bet.
I do not think I can sell my car and drive a beater as suggested by Dave Ramsey since I drive well over an hour each way to work.
Cant afford to be a SAHM and cannot afford to work

You're pathetic. You refuse to make changes. You have to drive a certain car. Pathetic.

I love this thread, I am in the same situation, suddenly found ourselves with a brand new house and 4 months later expecting baby number 3, splurged on a mini van and with family that was helping and recently moved our daycare costs are more than we can handle. Spending roughly 2,500 a month that equals to 25k a year something has got to change.
We thought about selling our home and downsizing for a while, with over 100k in equity this may be our best bet.
I do not think I can sell my car and drive a beater as suggested by Dave Ramsey since I drive well over an hour each way to work.
Cant afford to be a SAHM and cannot afford to work

I am not a promoter - but saw an ad today and remembered this thread from a few weeks ago. The Dave Ramsey Financial Peace University program is being offered at National Presbyterian Church.

Here is a link.

http://www.nationalpres.org/calendar

" This nationally recognized life-changing program teaches you to achieve your financial goals by eliminating debt, saving for the future, and giving like never before. Nine weeks of 90 minute lectures by founder Dave Ramsey via DVD will challenge and motivate you to get a hold on your finances, make a plan for your money, and reorient your life!


Cost: $99, includes textbook, workbook, audio recordings and other course materials.
Event Time:
9:30AM

Location:
Church Room 105

Debt is your largest enemy. Focus on reducing ALL frills (kids activities, meals out, any new sp e nding, fancy phone or cable) until cc debt and student loans paid. Do it now, while kids as re little, don't care about activities/clothes.

Once you a re paying mortgage only, then is t he time to consider which of these expenses is reason a ble.

And one other thought for the OP -- it is so good that you are tackling this now, so you can be free of the debt before your oldest child reaches college age! Hopefully with a few good years in between at your peak earnings to seriously sock away some savings.