Real Answers for Life’s Money Challenges
I am in a horrible spiral.
Without my income and with our reckless spending habits we accumulated massive amounts of credit card debt.
Within five years, we had three children.
My husband had student loan debt, and we took out payday loans to help cover everyday expenses.
With day care costs so high, it made no sense for me to work.
Stupidly, I took out the maximum amount of student loans to help with day-to-day living expenses.
I defaulted on my student loans and have not been able to pay any debts.
Hes a brilliant student, but hes terrified of going into debt.
My heart is broken over this.
I have been thinking about quitting teaching to get the retirement savings Ive built up.
I dont know what else to do to make a dent in this mess.
I dont even know where to start.
-J.
Dear J.,
Your debt has consumed you.
Theres a lot you cant change right now.
The size of your family, for instance, will also be considered.
Once he receives financial aid offers, he can truly evaluate the affordability of school.
Next, its time for you to get help sorting out the options for your own finances.
Adebt counselorin your area can review your credit report and provide free educational resources that can help.
They can also help you enroll in a debt management plan that will make your debt easier to manage.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
And that may be the hardest part of taking your next financial step: letting go of the shame.
I wont be glib and say youre ingoodcompany.
But you at leasthavecompany.
Have a tricky money question?
Write toDear Pennyand you might see your question answered in an upcoming column.
No Interest Til Almost 2027?
Balance Transfer = Credit Card Cheat Code
