First anniversary of 1st payment...what we have learned

[parsoc48]

We've never been good at budgeting or sacrificing or managing money in general.....this remains true, unfortunately. It's been a slow process for us and a painful one, esp. as DH wasn't too happy about going this route in the first place...I've had to work harder at the above issues and if there is anything I cannot stress enough it's the following:
Keep track of every penny It's amazing where it all goes and how much control you really have.
Put aside something every payday (even $10) for a "what if" fund (what if the water heater blows? what if we need new tires? and you know it's really not "if" but "when")

Am I glad we filed? YES We still have the same problems juggling things, but we will be DEBT FREE when we reach retirement, in effect giving us a $1600/mo raise.

So to all you out there, it can be done and you will be better off. And no, it is not easy or fun, but think of the alternative. Forget the "stigma"...is GM worried ab out the stigma??!!
Good luck to all of you

[liz417]

So glad things are going so well. Thanks for sharing with those of us who are just starting this long road down BK

[lrprn]

Your wisdom is hard-earned and oh so true, parsoc. Thanks for sharing what you've learned with us!

[Flamingo]

I've always stated in this forum that going through a Chapter 13 is the best budget teacher in the world. One actually finds out you can actually live on cash and not have to have a credit card. It's so easy to reach for the plastic and buy on impulse; now purchases are planned and discussed and other avenues pursued to see if it can be obtained even cheaper. I like your save $10 every payday while in your Plan; we tossed our change at the end of each day into a large container and we did not touch it - gave us a good bit of money for birthdays, Christmas and the occasional wedding or baby shower that always pops up.