The Family Debt Trap looks really bad right now…..

When it is all written down on paper it looks pretty scary. A whole spreadsheet of accounts with a whole lot of zeroes after them makes me wonder how I sleep at night. Right now wishing to be Donald Trump comes to mind...I n all reality it is odd how people manage to keep their heads above water without knowing it. My story is that of paying who I could when I could and telling debt collectors to just hang on a little while longer. In this situation where everything is behind in payments you start wondering which creditor gets priority. After all you still need to live. Debt Collectors have a difficult job to do but they are also people just like you and I. Sometimes I wonder otherwise though because you get some real nasties.

The Long Road to rehabilitation to being debt free.

You have to start somewhere right. By now you may have discussed the game plan with the family and hopefully they all agreed to it like mine did.  I have two sons that are doing casual work so the income they get is not much. They try help where they can but it ends up making me and the wife a tad guilty.

Our plan of action consists of tackling the accounts in a particular order from smallest to largest. The smallest account right now is $2000. When paycheck time comes we are going to tighten the belts and pay it off. Going to limit other resources but it’s the first step right?

No luxuries Period.

When you start on the road to debt freedom it means NO Luxuries!! No fast food, take out, pizza, movies, DVDs rented, sweets etc. You know what I am talking about right. You will be amazed how it all adds up. Buying a donut at work everyday adds up to quite a few dollars over the whole month. You can always catch up later right... Might lose a few pounds in the bargain…..This is the time when you really stick together and bond as a family. You will all be stronger for it. Best thing is; your children will not want to go throuigh what you did so that is an education in itself.

 Look after your cents and the dollars will take care of themselves.

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