I have to earn an extra 1000€ a month just to break even. Yet we’ve always managed to find money for holidays, spending, buying things etc. I realized what usually happens is we’d go through cycles we we’d ignore the budget and then run into a cash flow crisis which would force us to tighten our belts for bit and then as we gained breathing space we’d slip back into old habits again only to run into the same problem. What I’m trying to do this time is to change our way of thinking to make being frugal a way of life rather than something we’re forced into by circumstances.

Haven’t been here for some time..;D Glad to be back.

My credit card debts was more than $60,000 in April 07.The latest is $56,836 ..:D A bit decrease but at least I am working hard on paying off my credit card debts.

Self-control,persistence,living below our means really help my hubby and me pay off the debts little by little.

I can live below my means nowadays,that is,going less shopping and buying less unwanted items …;D

I cut off my credit cards in April. I had 7 credit cards then. Now, only 2 cards. I have not swiped my credit cards for more than 2 months now. Cutting off my credit cards does help stop bleeding….;D

Besides saving and paying off debts, I am now making money online by writing paid posts that can increase my income and help pay off some of my debts.

Debt is NOT new – however decades ago the merchants issuing the debt when we bought things knew us. There was a human being in on the decision of issuing credit.

Today we are left to our own demise and a computer that doesn’t say to stop issuing more credit until the borrower is way in debt up to their eyeballs.

Keep plugging away at it. I can tell you that life is so much more FUN after the debt is gone.

The post above talks about our grandparents and the debt on the farm. The point it skips is Grandma and Grandpa were told NO by the lender if they felt it was too risky. Today there is no one saying NO to the many vulnerable among us struggling with this issue in their lives.

YOU CAN DO IT !!!

We Did it —

Good Luck

Lenny Tumbarello
author of
No Balance Due:Tired of being in Debt Up to Your Eyeballs

Lots of great points everyone!

When my wife and I got out of college, she did an internship which paid her nothing but I got a job with a nice salary to cover our bills and have fun. We still had a bunch of debt under our belts but being in school so long, freedom to do anything is what we did. Most of the time we lived on 90% of the income because I am a natural saver, but come holidays we would live on 150% for a month and plastic would always get us through the holidays.

This year we’re saving for Christmas because I’m tired of paying for the past few years of it sitting on credit cards. I think it is easy to spend money and hard to save. It is easy to just have something done for you than doing it yourself. We live in a have now and pay later society where whether or not you can afford it isn’t asked, but rather can you afford the payment? I’m sick of paying for yesterday to get to tomorrow.

So to be successful with frugality you need to reorient your mindset to view it as the path that will lead to more.

More security and flexibility for when you retire so you could for example travel or pursue a dream career that doesn’t pay well.

Or instead of giving more presents to the kids at Christmas you’ll be able to pay for the kids to go to college which in the long run is a much more worthwhile gift.

Feeling like your savings will lead to prosperity will make you approach them as an exciting exercise as opposed to a burden which inevitably makes anything more difficult to accomplish.

For some, it’s their inability to delay gratification as a previous commenter noted. For others it’s all about keeping up with the Joneses. I think for yet others it’s simply a matter of ignorance (not intended to be mean, just not truly understanding credit and finances). There are perhaps other reasonas as well…?

But your point is great. We could have in fact nearly ever case lived without any of the debt in the first place.

Now i wish i did not think like that cause 4 years later, i am in 21k of debt.

Laziness…we live in a “drive-thru” culture! We don’t feel like making a healthy meal at home, so we drive-thru or pick up something. $200 extra to buy something pre-assembled, rather than spending some time to do it myself? Sure, no prob.

Fear of sacrifice…the “I don’t wanna” cries begin. I feel like sometimes we perceive that our culture demands that we look a certain way. By look a certain way, I mean…bigger, better, faster in all ways! Newer house, better car, bigger wardrobe, etc.

If achieving good financial status was that easy, we’d all be debt-free!!! Sacrifices now mean wonderful things later. Plus, hard word instills character in all of us.

As my husband and I have faced our debts and tried to tighten our belts it hasn’t been a pretty process. My tightening the belt makes me feel like an obnoxious teenager. My moodiness about this has made me realize that I have been pretty childish and that part of this grumpiness is about being forced to grow up and take responsibility. If I think of it as my choice it is empowering. However, when I think of it as being something I have to do it can make me tres grumpy.

The realization that the choice to rack up the credit card debt was really the harder way only comes on that day one realizes they are drowning in debt. We often have to learn the hard way.

Education helps somewhat, but some of us have harder heads than others