When we were pregnant with our oldest son (currently 1 1/2 years) my husband and I were drowning in debt. We reduced our monthly expenses to only necessary items. Even cutting all un necessary expenses, we were still unable to afford groceries. We went to apply for Food Stamps, and we were told that we made too much money. It was one of the most stressful times in our lives. Now, we are almost debt free (not including student loans or the car payment) and we no longer worry about providing for our kids or paying for groceries, we are even in the process of getting pre approved so that we can buy our first home. We also took a Crown Financial Finance Class.
With Tax returns being handed back, a lot of people spend the money un wisely, so I thought that I would share one of the first steps we took towards being debt-free and in turn cutting our monthly bills.
When we received our tax returns two years ago, Instead of spending the money, we paid off all of our credit cards and then destroyed them. We started with the credit card with the highest amount of interest each month and paid it off in full. This helped us to eliminate on of our monthly bills, leaving us with more money each month.
We thought we would never be out of debt, but we did it! and you can too! Below is a link to the Crown Website. Their materials and the Money map helped us a ton, and I hope it helps you too.
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