I have some fabulous news. As of March 29th, our insurance is officially being covered by Mi.Vida’s employer. This is very fortuitous, as we find ourselves in dire financial straits. The combination of my part-time employment and 3.5 month maternity leave has left us in great financial difficulty.
For the first time in my life, I have credit card debt. Quite a bit, actually. In two short months, I’ve accumulated as much credit card debt as I have student debt. This is… alarming.
Having an extra $1,500 a month will definitely help us climb out of this debt, but it won’t be enough. I’m hoping our tax return will make a considerable dent in how much we owe, but that might not suffice. I suppose, worst comes to worst, I will just continue maintaining the balances on my cards until I can eventually pay them off, and pay the interest as it accumulates. It is not the ideal situation, but it’s necessary, for the time being.
In the meantime, Mi.Vida and I are taking a long, hard look at our finances. We’re writing down EVERY PENNY we spend this month in hopes of having a better understanding of where our money goes. Our monthly bills come close to our monthly income, so it’s no surprise we’re struggling. We need to stay within a strict budget to avoid racking up debt, and right now we’re just not doing that. Hopefully, after an honest investigation this month, we’ll starting making financially sound decisions.
Ugh. This is all so stressful. The mounting debt, coupled with the fact that our house appears to be coming a part at the seams (we have THREE separate water leakage issues that threaten to cost us tens of thousands of dollars), has me in quite a state. I know it will all work out in the end, but it’s going to be difficult getting there.
Gah. I hate money. I really, really do.
I’d ask about your financial situations but that is very poor manners, so I won’t. Instead I’ll ask for any advice you may have for a girl who needs to pay off many thousands of dollars in credit card debt, and fast, while working part-time and paying full time childcare for her daughter.