Where Did All This Debt Come From?

We were so excited when my fiance got a new job a couple of weeks ago. Finally, we thought we had a way out. We would continue living off of my pay, and funnel most of his towards paying down the debt.

He was happier than I've seen him in a while. He stopped worrying and seemed to actually feel confident about himself. Before this, it had been nine months since he'd worked last, and he's taking it personally at this point.

He'd never worked retail before, so the store had him just stocking items, folding clothes, etc. They told him to make sure anyone needing help was helped. A guy came to him about trying on a pair of $80 shoes, which C grabbed him from the back before turning to deal with the next customer.

You see where this is going, don't you.

Guy stole the shoes.

The store manager didn't penalize him the day it happened, but she called a couple days after to let him go.

This sucks. It really, really sucks. Doing the math, I don't know how long we can keep going on just my income. We cut off our cable today, lowered our internet speed, and I've found a cheaper place to park for work. But we can't cut back much further.

It's hard to focus on anything else. All I can do is think about how much more readily employable I am (background in customer- and food-service vs his factory experience) and it makes me wish I could take on a second job until he finds something. But with the irregular shifts I work at my job now, I don't think I could find anyplace willing to accommodate me.

Things are getting a little panicked. Thankfully, though, we are pulling together, and it's reinforcing how lucky I am to have him.

Sorry to be a burden, I just needed to vent. He's submitting more resumes online as we speak.

I went to the bank today to transfer the credit card balances to our line of credit. I know it hasn't changed much of anything, but I still feel good having made a bit of progress. I set up telephone banking for the account so I can transfer and snowflake at whim.

Now that I am determined to kick this debt's butt, I found the drive home from the bank different and strange. I stopped to buy a coffee (no donut, no extra-large) and along the way all I could do was look at all the places I wasn't going. Suddenly, I really "needed" to pop into the flea market. If I'm going to cut back on expenses, surely a few cheap used paperbacks would keep me entertained, right? Or maybe I should see what Blockbuster has on their cheap-cheap rack. You know, to tide me over while I hibernate and track my pennies.

I didn't go, but it was a little surprising how strong the pull was. I think I need to figure out some kind of allowance so I won't feel like I'm punishing myself. There has to be balance. I am not the do-away-with-everything type.


Paid to Line of Credit: $20
Remaining Balance: $12792.96

So, this is where we're starting.

$13,000 worth of consumer debt.

That's what we have.
That's a lot of money.
That's way more than either of us had realized.

We don't buy expensive stuff. We don't wear name brands. We shop at thrift stores for clothes and most of my books. We don't drink much, or have expensive hobbies. We don't travel.

So where did it come from?
-We drive a crappy car that needs repairing all the time, and we've never had the common sense to sit down and start a car fund.
-We've been caught unaware with some house stuff. Like last month when it rained in the kitchen. Again, we should have had an emergency fund.
-Some of it, shamefully, is still from our cat's surgery. Said cat died five years ago.
-I was unemployed while I was in school, and C was unemployed for the last nine months.
-Some of it might have, kind of, sort have, bought me a diamond engagement ring. Maybe.

We've got a 2K emergency fund now. I'm going to the bank tomorrow to "pay off" our credit cards with our line of credit (6.25% vs 18.5%)

Deep breath. Here goes.