Money Matters
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How to save when paying off debt?

We have 2 credit cards with 0% interest for a year.  However Dh's car is going to die at some point.  I feel like if I send all our money to debt and we have no down payment or any money for a new car we'll be in a worse position than we are now.

what would you ladies do?

asecond job or me working is not possible.  We have an e fund with 1100 initial and we put $10 / week in it.  Also being a 1 car family is not possible. 

ETA : we own both of our cars. 

I will love you for you, not for what you have done or for what you will become

Re: How to save when paying off debt?

  • Consider your saving account to be one of your creditors & put a set amount in every month.  Do all the required maintenance on your cars to maximize their lives. 
  • I second what dalm0m said.  Always pay yourself first!  If your employer offers direct deposit allocate a portion of your paycheck to automatically be deposited into your savings.

    If a second job is not possible, perhaps consider going

  • Can you put any more than $10 into your efund per week? 
    How much is left on both CCs? 
  • Look at your current spending and cut back on all non essentials. 

    You do not need a new car - you need a new-to-you car that you can afford to pay in full

    Sell stuff you have that you no longer need or use.

    IF you rent, conside

  • imageSisugal:

    Look at your current spending and cut back on all non essentials. 

    You do not need a new car - you need a new

    I will love you for you, not for what you have done or for what you will become
  • Cut back on your cell phone plan...basic calling and texting only.

    Cut out cable TV. It sounds crazy but a lot of people are doing it now that Netflix, Hulu and the networks themselves post shows online.

    DH and I cut cable back in the sprin

  • Let me preface this by saying that DH and I did not have kids when we did our debt payoff but we did own a home. Our goal was to payoff 100k in student loans so we had a small savings account of $500 and then after that was built up we put every cent into
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