The game plan is to make October a no spend month. We like to eat out about 2 times a week and I probably get lunch out more than that. If I start eating at home I could probably save about $100 a week. That is $400 a month! That is my car payment!
Yesterday I took an inventory of what is already in the freezer and am trying to make meals out of what's already there. I will be doing my grocery shopping this week, which will include what I need for the whole month. But after that no more spending for the rest of October. I do have some exceptions though. I can buy milk, eggs, oil, flour, sugar and bread if we need it. Things can be purchased with coupons and gift cards. I hope to save about $150. All money saved this month will be applied towards our debt.
I have always heard that the first step in taking control of your finances is to actually see what you owe. Well this morning I checked both mine and my husbands accounts and added everything up. I was shocked at how deep we are in debt. I honestly didn't think it was this bad. OK so between credit cards and hospital bills we owe $10,966.13. The car we still owe $17,976.97. I owe my mom $3,270 and I think my student loans are about $7,000. I am not even going to bother adding our mortgage.
Fortunately we are refinancing our mortgage this month and will be saving another $300 a month YAY! I already stopped going to the chiropractor and getting electrolysis which is saving me $250 a month.
Wow! I am overwhelmed, but I am excited to see how much I can get these totals down!
In Tirmidhi a hadith is narrated that:
"Whoever dies free from three things arrogance, cheating and debt will enter Paradise."