Hi, a little about me. I am 29 years old separated from my former fiancé who is also the mother of our 5 yr old awesome daughter. We owned a condo together which I gave her and moved in with my mother :( so I am saving money there but I just can’t seem to stop spending money and its not on big purchases either I currently work as a contractor(temp job) ends in October of this year so I am in a time crunch to try and save a little emergency fund for while I’m looking for another job which I am constantly looking already.
I am in school and yes have already about 30k in student loan debt which I don’t have to repay till I graduate.
I have around 15k in credit card debt some was due to my separation and not realizing how hard it would be on my own , before I moved in with my mom I had an apartment for 2 years and got into a lot of debt just staying current on everything. I’ve read to of your books already and defin itely feel that I am in the acceptance phase.
I know I am not good with my finances and I know it is all my fault and I am ready to change it. I am a very introverted person and hate relying on friends and family for support so talking to you is a big step for me.
I have five credit card accounts with only one open still due to lack of payments. Please help!!! Thank you in advance.
Need help developing a plan and sticking to it.
What should be my next step.
I need ideas on how to stop spending money on little pointless things like drinks and fast food and misc stuff.
I need a budgeting system that works for me.
Also looking for tools to help me achieve my goals.
Thank you for being brave enough to reach out to me for advice. I recognize you are being brave doing that and I’m here for you.
I’m answering this assuming you are able to make your monthly payments but need help digging out.
My book, which you can download for free, “The Path to Happiness and Wealth” sounds like the one closest to what you need. It will help you to develop awareness about why you spend.
From my point of view your path out of debt first starts with awareness and a consciousness about why you spend. It’s quite possible that you are a stress reducer or distraction spender. If so the debt and lack of money is not the problem, but the symptom of the underlying issue.
Please take the online money personality test and let me know what answer you honestly come up with.
Once you can develop an introspection about what drives your spending you can then start to dig out. One program I really like for organization and structure in rolling out a debt repayment plan is ReadyForZero.com. It’s a program you can start on right now, for free, and can give you data and feedback that will be helpful.
Chase, nobody knows who you are on here so please feel free to update me in the comments below. I’ve given you some initial homework, I’d like for you to go do that and then report back in. Please.
Please post your responses and follow-up messages to me on this in the comments section below.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.