Hi! I've just started reading this thread. It's nice to know that I'm not alone in my debt struggles. I'm 46 with a live-in boyfriend. After his divorce is final he's using most of his money coming from the house buyout to put a down payment on a house for us, hopefully within a few months to a year from now. My name won't be on the house because my credit is so poor. I've had credit card accounts in collections so there are negative remarks on my credit score that aren't going away for awhile. We both have full-time, stable jobs that weren't threatened by COVID, thankfully. He's been shouldering most of our living expenses while I've been paying off debt and also trying to save a bit every month in my emergency fund and in a separate account for a wedding sometime next year.
I have approximately $50,000 in debt and am enrolled in a debt settlement program. Trust me, it pains me to say that. I'm currently on track to finish the program in 2024, the same year that my car will be paid off. Since I began the program I've settled with 3 creditors and am pumping extra funds into the account to get things in gear more quickly. The years of living on credit cards to buy things to fill the void in my life that could never be filled by material possessions has finally caught up with me. But it feels good to face things head on. And I've finally got a hold of my shopping addiction so I won't be spending any more dollars on superfluous crap but will be saving towards my dreams and goals.
2020 Financial goals:
- Save $100 a month in my emergency fund
- Have $2400 saved in my wedding fund by 1/21
- Start saving toward DVC in December
- Stick to the budget I have created. Forgive myself if I'm not perfect at it.
- Continue using the EveryDollar app every day
2020 Personal goals:
- Go to the gym (after it opens back up) 3 times a week with my BF after work
- Finish organizing my walk in closet and my dresser
- Eat smaller portions
- Get the DVR to a decent percentage. Currently 90% full.