Being Smart About Bills
A few years ago Hubby and I found ourselves in serious financial trouble. I’ve got the typical story, we were young, we were stupid, blah blah blah. The massive credit card debt was piling up along with student loans. I didn’t want to be one of those people working myself out of a $50,000 hole, so when we reached $10,000 in debt I said that’s it, I’m looking for Debt help.
I looked into a few different options for Debt relief, and it was all very very overwhelming to me. Hubby sucks when it comes to dealing with finances, so that left everything in my hands. I admit math was always my worth subject in school, and I definitely didn’t want to be dealing with our finances on our own. I finally took responsibility of it though and started looking at more options to work ourselves out of the situation.
If I were to write a haiku about my life at that time it would probably be something like this.
no credit spending
young stupid debt piling up
consolidation
That might not be exactly perfect since I’m not that great at poetry, but hey, it says what it needs to.
I settled for Debt consolidation, and I’m glad I did. It took us a few years to get back on our feet, but debt consolidation lowered our monthly payments drastically. We went from paying out over $1000 a month just to meet minimum payments to paying one monthly consolidated payment that was less than $500. Within 3 years we were almost out of debt.
Now we do have debt, but we have what I like to call a “healthy” amount of debt. We have our car loan and motorcycle loan, and that’s enough to help us build our credit again. I’m trying to stay on top of it in every way possible, and I want to make sure we don’t end up in the same situation again.
That’s why I’m glad I found BillsIQ. It’s a free quiz that helps you determine how financially fit you are, and you can learn what to do to improve your financial status. My Bills IQ is currently a B. When I took the quiz about 2 months ago I was bordering between a C and a B. I took the advice that was given to me, and I already see a change in not only how we’re paying off our current debts but in how much we’re saving as well. Hopefully shortly down the road I’ll find myself receiving an A.
So, what’s your Bills IQ? Why don’t you take the test and find out?
Tags: Bills IQ
