I’m starting to get “debt-pay-off-fatigue”. (I don’t know if it’s a real thing, but it sure feels like it!) We have been slogging away for 20 months and it’s still not gone! (We know it’s our own fault and that we did it to ourselves. We take full responsibility but are just sick of it!) We have paid off 57% of our total debt and are hoping to pay it off this year, but we are tired.
When we first got deep into credit card debt, we worked hard at payoff. We got “down” to around $19,000 - 20,000 very quickly. And then we hovered around there for months… like 10 months! For one reason or another, we weren’t making much progress. Some months we only paid off $100 and some months we put $200 back on. It was infuriating! Then, we finally broke that threshold, and we were so happy. Progress was fast and furious for several months… and now it’s almost non-existent.
Christmas and the holiday season are always expensive, but they massively slowed down our progress! Our last three credit card statements have shown almost no progress. ☹
Right now, I’m really feeling debt-fatigue. We are so close to breaking the $10,000 threshold, but we still feel so far away! Even though we “only” have $10,700 in credit card debt, I don’t think we will be able to break $10,000 by our next statement. Due to some upcoming expenses, we only assigned $774 to go towards our debt, but then we need to add interest.
We hovered at the $19,000-20.000 threshold for months and now I feel like we are doing the same thing at $10,000. We just can’t break it.
I know we will… I know we are close… I know we will get out of debt. I’m just having a pity party today.
January 17th, 2024 at 09:36 pm 1705527379
January 18th, 2024 at 01:13 am 1705540427
The other thing I will add to this is that costs for some things, like food, have gone up. So, you could make adjustments in your budget, if that is the case.
These are just a few thoughts. Feel free to take them or leave them.
January 18th, 2024 at 11:28 am 1705577302
what are the up coming expenses and are they needed? I really think you need to write out a budget and add everything into it so you know what you can pay and when on the debt...just why you haven't added these upcoming expenses into your budget if you knew they were coming up??
like others have said can you cut back on things? I think if you have a budget written up it would really help out and get you back on track...also track all your small expenses as I find that adds up really quick without us realising it...sure did for us when we did it...good luck you will get there...
January 19th, 2024 at 12:14 am 1705623285
January 19th, 2024 at 05:04 am 1705640646
January 21st, 2024 at 07:59 pm 1705867162
Since it is January, may I make a suggestion...in the same vein as LivingAlmost Large and Mum of 2...you know you want to spend for Christmas, why not open a Christmas Club account and put money in it each month. Then resolve that is what you'll spend for Christmas. You may need to be creative, but if you use only what you saved, just think...no additional credit expense!