I'm sure most of us have debt that we wish we did not have . Unfortunately it cannot be wished away. For those thinking of bankruptcy, I'd caution against it if at all possible. Many places are willing to work with you - you just have to take the time to call them.
Anyway, we've hit a point where another round of student loans are coming in - over $200 more per month. Talk about a huge hit on the budget. Through it all though, even though we are going to be able to have no extra money to spend on eating out (which we love to do) or other things, we're so grateful our bills are at least getting met. It's times like these that cause a family to be more creative in what they do for meals, entertainment, etc... It's also times like these that we look more towards the Lord - what else is there to do.
Take this time, before the holiday season to look over your budget and make it work for you. Yes, a lot of us have to sacrifice many things but isn't it worth it in the end? Being wise stewards of what God has given us is so important to use and we're learning more and more all the time. IF you have other debts such as credit card debt like we do, see what you can cut out of the budget in order to not just meet those minimum payments, but get them paid off as quickly as possible. With the new laws our president has put into effect for credit card companies, the credit card companies are now raising their interest rates very high to re-coop costs from the presidents new bill. Even if you have to make minimum payments now but can take your tax returns and instead of blowing it, paying off debt, that's another great option. Do what it takes:)
Most importantly, stop using credit! For those out there who are used to using credit cards for Christmas only to have to pay them off with working overtime the whole next year - is it really worth it? See how you can pare down your Christmas giving. After all, we celebrate Christmas as a time that we remember what our Lord did for us and his birth. IT should not be about a big expensive gift list that we have to go buy or make others angry by not doing it. How far from the true meaning of Christmas have we come over the past 50 years. Worse yet, with getting our children everything they want now is not only setting them up for being credit users as adults later, but teaching them to be very selfish. If you are a Christian, our main goal as parents is to lead our children to the Lord first and foremost. Are you doing this with your children? Remember, they see what you do - your actions speak much louder than words.