Comments on: Desperate Times

By: Jenna

Jenna — Sat, 11 Jul 2009 01:24:22 +0000

#2 IS very hard, but it’s VERY worthwhile! Not too long ago I got up the guts to write a post on my personal blog about our financial mess-ups and what we’re doing about them. I’m SO glad that I did. I was sure I’d experience sneering remarks and rejection, but instead I had several friends tell me that my honestly helped motivate them to face up to their own fiancial problems! Along with releasing the burden of hiding our real situation, I also found support and an incredible outpouring of love from people who had thought that they were alone in their financial mess. Now I’m far more motivated to stay on track, too, since I’ve committed to keep writing about our progress.

By: Catherine

Catherine — Fri, 10 Jul 2009 23:31:02 +0000

Another excellent message Gail. Even though each of us knows that we have to creep before we can walk…as Maureen states debt starts small and grows and grows over time…we have to take that breath and not think we can pay everything off all at once…and creep along and get rid of it slowly, probably over the same amount of time!?!?!?!
Wishing all those meeting tomorrow a wonderful day together! Hope the sun shines on you all…I’m sending cyber hugs…maybe I can make the next get-together.

By: Saver Queen

Saver Queen — Fri, 10 Jul 2009 21:56:01 +0000

Fantastic advice! Looking forward to meeting fellow bloggers at the pot luck tomorrow! Let’s hope for nice weather… despite the call for thunderstorms!

By: Chris

Chris — Fri, 10 Jul 2009 20:48:07 +0000

@Elizabeth – Gail had a great little post recently about the pros of using credit cards provided you are good with them and only use them when you have the money to pay them off.

By: *pol

*pol — Fri, 10 Jul 2009 18:54:19 +0000

Gail, you are doing such a great service to us all by being honest and to-the-point, and wording it in an understandable way!

When the panic sets in it’s hard to remember that it may take some time to dig out of it…. likely these folks didn’t get in over their heads overnight, and they won’t get out overnight either.

I know so many people that are on the precipice of bankrupcy, and feeling so desperate — but ironically it is those same people that when I suggest they quit smoking (hard) or cut cable, internet and cell phones (easy) they balk and say “that’s never going to happen”!!!! Come on! Really? Priorities can be so warped even when people are feeling broke.

Money is an emotional device, but really it’s not rocket science to evaluate the difference between a want and a need. Good food and warm shelter, safety and love are needs…. but entertainment is always a want! Very expensive when you are stuggling financially.(I even had a friend that had NO phone at all for most of her life!!! Can you imagine? No phone!)

By: Maureen

Maureen — Fri, 10 Jul 2009 18:52:51 +0000

For most of the people I know who are/were in debt including ourselves that debt did not just suddenly appear. It started small and grew and grew – just like a snow ball rolling down a hill grows from something the size of an orange to something big enough to knock you over and bury you alive.

Debt – particularly large debt – seems insurmountable when you first start paying it down. But it too becomes a snow ball.

During the first few months of our debt pay down it seemed like nothing was changing – and certainly not fast enough – but once we got caught up with our over due bills and kept them current we started to see the change. The extra money that we had been paying to the utility companies got redirected to a credit card and in two payments that card was gone. Then all that money went to another debt and in 4 months it too was history.

You just have to keep going and have patience. When we looked back a year from the day we started we were sooooo amazed and happy. But it took another 2 years to get to zero. Oh well – we weren’t going anywhere for those two years anyways.

By: Jessie

Jessie — Fri, 10 Jul 2009 16:22:51 +0000

I think for the people this really hits home to, who feel they really need some support, or a gentle (or not so gentle) push to get started, joining their local Gail’s Club may be a good start! Having other people to talk to who are in similar situations, or at least on the same path as you are (wanting to spend less, save more, and pay of debts) is extremely beneficial. As odd as it is, sometimes its easier to confide these things to strangers rather than friends or family. It is unbiased.

Check out the Gail’s Club site and join the group near you! (there is also an online one).

By: Colleen

Colleen — Fri, 10 Jul 2009 16:06:45 +0000

You are so right, Gail.

So many people are getting caught with their financial pants down. And the first instinct is to panic. But we all know that is not the best thing to do.

I can’t imagine the number of requests you’ve been getting. You could probably do episodes of TDDUP for another 7 years and still not have gotten to every one.

Personally, I would never have thought that in a timeframe of under 3 years, my earnings would be down by a third. I think the thing that has saved us, my husband and i, is the fact that our expenses are not as high as they could have easily been. This is one time when procrastination on the part of my husband is good. Our hours started dropping before we bought a second vehicle or a boat. Being frugal, and having less ‘wants’ helped too.

Each one of your six points is well made. And they DO work. I have been able to apply them all to our situation, with the exception of number 3, ‘ask’. It’s not that I am afraid to ask, it’s just that I’ve not needed to. Executing the other five points took care of that one.

By: Elizabeth

Elizabeth — Fri, 10 Jul 2009 15:30:09 +0000

and please don’t forget…STOP using the credit cards!!!

By: Jessie

Jessie — Fri, 10 Jul 2009 14:24:28 +0000

Great Post Gail!

I can only imagine how many questions and pleas you get for help each and every day. It puts things in perspective when you realize there are so many people out there who need help, are in trouble, and don’t know what to do.

Makes my little pile of consumer debt/student loans look so small.

By: Jamie

Jamie — Fri, 10 Jul 2009 13:34:34 +0000

Thank you Gail! This post is exactly what I needed to hear right now. I’ve been feeling a little less than motivated lately. But I have to remain focused! I know I will get through this and it may not happen as fast as I would like it to, but it WILL happen!

See you tomorrow at the picnic!