Well, we both went to the financial counseling appointment at the base today. It was honestly really insightful! We learned of this site that can help us 'power pay' our debts away. It basically helps us forecast out how much we should pay for each of our debts and when one is done, takes that money that was used for that one debt and combines it to another... If that doesn't make sense, here's their statement "As soon as one debt is paid off, applying the monthly payment from that debt to the next debt is called a Power Payment." It's easier to just go to the site and see.
We also received help from the budget adviser there who helped us formulate a 'spending plan'. She didn't call it a budget because she said that we still need to spend money and that we can't just take everything away or else we would have nothing to do. We were to organize our money intake in this order; cash, bills, debt, savings. Once we get into a better situation, we would start giving ourselves small 'allowances' for things that both of us want to do with. Personally, I'll be using my allowance for resizing my wedding ring!
I'm so afraid it's going to slip off one of these days!
Gah! There was so much information!!! Funds, stocks, insurance, banking, credit cards, frauds, lenders, taxes...
My heads spinning!
We also received help from the budget adviser there who helped us formulate a 'spending plan'. She didn't call it a budget because she said that we still need to spend money and that we can't just take everything away or else we would have nothing to do. We were to organize our money intake in this order; cash, bills, debt, savings. Once we get into a better situation, we would start giving ourselves small 'allowances' for things that both of us want to do with. Personally, I'll be using my allowance for resizing my wedding ring!
Gah! There was so much information!!! Funds, stocks, insurance, banking, credit cards, frauds, lenders, taxes...