How One Family Got In Financial Trouble & How They are Climbing Out.

[pennypinch]

A 34 year old Satellite operations technician from Colorado Springs, Colorado says that credit cards got them into a financial mess. She says they her and her husband live modest lives with a small house, kids, a dog and a cat.

She says before they she and her husband got together, they had a lot of credit card debt. They both had high balances. She said she never paid much attention to it and didn't realize the trouble they could cause.

As of the last two years, they have been trying to rid themselves of the debt. They have been using the pyramid system to pay the credit cards down. They are starting with the credit card with the highest interest rate and working their way down from there.

She says of course unexpected things pop up that are not in their budget such as medical bills and the high gas prices.

She says many of the cards are just pure evil. She makes a payment and the interest ends up being as much as the payment that she made was. Sometimes when she gets paid on Friday she is flat broke by Monday after paying these bills.

She wishes she had learned financial responsibility at a younger age. She would have lived a much more modest lifestyle. She says who cares what car you drive or what clothes you wear? She has learned a new appreciation for second hand stores and she is looking into trading her car in for a more fuel efficient model. They are also using public transportation.

They have made changes in what their priorities are. Providing for their family is the most important thing. They have gone back to the basics.