Profile picture for rew115

What is the best way to manage debt after moving into a new house

There were many surprises at closing,which brought down my money set aside to almost nothing.Now we have almost maxed credit cards plus the up keep of the house.The only thing we are sure we can pay is our mortgage.What options are there for new home owners in credit card debt?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013 - Selden
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (6)

To add...

Also want to add that since Discover IT card came out and offered 0% on 18 months credit card transfers some others have followed suit.

I was under the claws of a bad company ( wont mention the name ) but by transferring the account  the money I was paying the old company was finally being used 100% to pay off that debt.
50-75 dollars a month savings there cause I didn't have the high min.payment from the old company and the payoff will happen way earlier.
-Joseph-
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013
I always paid my bills as they came in, wrote a check for this one and that one, one week I paid one set, second week and so on...
One day I decided to sit down and make myself a budget so I could manage my money better.
As I started writing down what I was paying out and noticing the 'out the corner of my eye' totals...I was shocked at the money I was coming up with and paying out before I ate...every 30 days !
I stopped the list.
All I know is that whatever I was doing was working and I decided to leave it at that.
Now that's my 'make a list' story.

Getting to how to minimalize (didn't know I could spell that) and find extra money story.
I started for once in my life opening the bill invoice page and reading what I was paying for.
Certainly going down to the basics on a tv service or a cell phone package is just one or two bills but when you start adding them together you sometimes will find an extra dollars a month by doing so.

I also had full coverage insurance on a truck that was only being used on weekends...dropped that down to liability (over 300+ a month less). how?
Rebumping a personal loan to pay off the auto loan (higher finance charge) ...which inabled me to remove the full coverage, show a loan paid on my credit report, got rid of the high auto loan period and put 3k in my pocket. Personal loan was extended but the payment was the same as I was paying.

A closer look at any bills coming in that somehow have advanced themselves to a 'higher than what the agreement was' will sometimes result in a 10-15 dollar removal of certain fees.

These little things can be all apart of a savings you can be using towards one if not two of those utilites.

Hope these stories helped some, cause some of them may just apply a help someone else.
-Joseph-
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013
Profile picture for wetdawgs
Laughter is good.  I'm sorry you are in this position, but if you can laugh I know there is hope.

SoCal_Engr input is good.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013
Profile picture for rew115
Thanks wetdawgs .You made me laugh.On the bright side I know we will get some help at tax time but in the mean time it's very scary.plus we havent even received our utilities bills yet.I don't like unknown bills
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013
Profile picture for SoCal Engr
As Wetdawgs already said, the cost of home ownership can be a shock...even when you think you have prepared for it.

What worked for us is to have a family budget. Actually, two. The first is "this is where we want to be", and includes all the money's being set aside for savings (i.e., for retirement, to buy the next car, etc.). The second is "this is where we are", and rarely are the two the same.

The second often includes plans on how to pay off existing debt and "get ahead of the money curve". The first helps to guide the second, helping to identify priorities.

It can be discouraging at first, when you see in black-and-white what you're currently faced with. And, initially, progress can seem slow. But, stick to a plan and you'd be surprised at what you can accomplish.

Good luck.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013
Profile picture for wetdawgs
Home ownership shocks many with the additional expenses.   

There is no magic solution besides extremely frugal budgeting.  Now is the time to go buy the 25 pound bag of beans and 50 pound bag of rice from Costco. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 01 2013
 
Related Questions
What is the best way to manage debt after moving into a new house
Profile picture for Joseph's Carpentry
Latest answer by Joseph's Carpentry
September 01 2013 | 6 answers
Can I see a pic of the whole property?
Is there a basement?
Are there pictures of the inside?
Last sale and tax info
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 28 Seminole St, Selden, NY Home For Sale
    28 Seminole St, Selden, NY 11784

     For Sale: $224,900

    • Beds: 2
    • Sqft: --
    • Baths: 1.5
    • Lot: 12197
  2. 47 Mooney Pond Rd, Selden, NY Home For Sale
    47 Mooney Pond Rd, Selden, NY 11784

     For Sale: $129,000

    • Beds: 3
    • Sqft: --
    • Baths: 1.0
    • Lot: 10019
  3. (undisclosed Address), Selden, NY Home For Sale
    (undisclosed Address), Selden, NY 11784

     For Sale: $299,900

    • Beds: 5
    • Sqft: --
    • Baths: 2.0
    • Lot: 3354120