Dave Ramsey says, “Getting out of debt requires focused intensity. Make sacrifices & cut every last penny you can from your budget.” And I must, must agree with him…
For the last three years (if not more), we (Litsa’s family) have been bombarded with medical debt. From premiums at $300 a month skyrocketing to $800 a month—-to a letter in the mail (yesterday) saying that our family policy is being dropped as of December 2015. Out of pocket expenses were high dollar demand$ too—-$5,000 per individual before insurance would kick in….medicine that wasn’t covered….and, and, and…..I literally had to touch and work with every penny in our budget to pay off medical debt. Three items remain on my desk: An account that we fought with Cigna to pay (out of network hospital), one last debt from a recent accident (less than a year), and one bill that if paid in FULL can be negotiated for $900 less if not more (Yes. I intend to ASK!).
So what do you begin to cut from the monthly budget to pay for medical debt, new tires, unexpected dental costs, etc?
- Call to lower cable bill (and/or cut off completely)
- Call to lower land line bill (and/or cut off completely)
- Do your own yard work (+do your neighbors for a minimal fee)
- Use coupons (printable, digital, etc.)
- Cut out all eating out
- Cut out junk food items that come into the house
- Stretch shoes/clothes budget by not purchasing items
- Shop thrift stores for needed items (and/or resale items)
- Share with family/friends that you can’t contribute to gifts and/or trips while you fight the debt demons
Forgoing cable bills and land lines is just a small price to pay to demolish debt from your family’s budget with ‘gazelle’ intensity as Dave Ramsey always suggests. I’m not sure what the next step down to that intensity level is but that’s where I am at. With my husband working looooooooong hours for our family, I couldn’t eliminate all these services in our household budget without his permission but if ALL family members are on par to eliminate debt, the battle can be fought quicker. Don’t let debt destroy you and your family—-your finances, your future…….There is a way out of debt. You as an individual and as a family unit have to decide when and how fast you can move to factor out the excess that is needed to pay the billed items coming into your household.
Debt is scary! Destroy it before it……..envelopes you!
Dave Ramsey Quote from his FACEBOOK Page (every topic is a must read for different seasons of our lives)
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