I have finally tallied up the debts and it’s not pretty.  In fact about halfway through I started hyperventilating and frantically searching Monster.com for jobs where I could start tomorrow.  Now I’m a Stay-at-Home Mom and I love it, but the shear amount of debt we are in seems sooooo overwhelming that a paid job seems like the only way out.  Then I start running the numbers, full time daycare for three kids is not pretty either.  So here we are.  SAHM, husband with a good income, three little ones and a plan.

FIRST.  ADMIT MISTAKES.

We spend WAY too much on takeout.  I’m exhausted after a long day of taking care of the kids but this expenditure is a killer.  Need to start finding cheaper and healthier ways to feed us.

We spend too much in interest on credit cards.  We need to cut them up.  There were times where I would pay the credit card bill and the next day use it up tothe amount I just paid down!  Now I’m talking about $100 dollars to buy groceries/diapers, not thousands, but still.  This is insane!  We need to get out this racket.

Letting the BIG debts seem too daunting to ever get handle on.  Like student loans.  For a long time we deferred these payments just mindlessly capitalizing our interest.   UGH!   Face this head-on.  Make a plan.

I’m sure there is more but since the title alludes to fessing up, that’s what I must do.  The below is the TOTAL of all of our debts.  It does not include ridiculous monthly payments for overpriced TV services and the like.  It does include our car and mortgage and credit cards at 800% interest.   Drumroll please!!!

$226,000

I’m using the calculator at http://www.whatsthecost.com/snowball.aspx to FINALLY get a handle on this mess.

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