I thought I'd let you know how this has been going from a woman's point of view. One of the things I've been doing to help cut back on costs has been the one car. We had to get a new car because our last one blew a head gasket. So we thought about it and decided that instead of getting a car now and then a second one for me we'd just buy one and share. The total payment and insurance comes to about 300.00 a month. A whole lot easier to swallow than the 600.00 + we were paying for Scott's car he had when we first started dating. I also started buying my make-up when it's on sale and getting an extra one instead of paying full price at seperate times. But the biggest thing I've done is changing my hair. For years I've been coloring my hair dark brown so I dyed it back to my natural blonde. It will save about 100.00 every 6-8 weeks.

Ladies, what have you done to cut down beauty costs?

One of the hardest parts of being so heavy into debt is keeping track of everything. I am constantly logging into the credit card websites, checking balances/APRs/etc, tracking payment due dates, and the list goes on. I've been doing this for the past few years, and it's getting old! So, 2 weeks ago, I decided that I would follow the advice I've come across and call to get a lower rate on my credit cards.

I had a credit card through MBNA with a ridiculously high rate (30%+), so that is where I started. I called them and told them that I had to have a lower rate or I would be taking my balance elsewhere. I spoke to the rep for a bit about why I was lowering my rates, and he mentioned to me that they have a debt consolidation program that they offer that is geared towards people that are currently working on paying off their debt. We went over my balances, he pulled my credit, and I now have $11,000 of my debt, 4 accounts-worth, rolled into a consolidation loan. My monthly payment on the loan is around $80 less than the combined payments on the 4 accounts, the interest is lower than the combined rate, and I am one step closer to taking control of this beast!

I now have a consolidation loan ($11,000), a Dell charge account ($3,000), and my IRS tax bill ($3,000). The minimum payments are as follows:

Consolidation: $250/month
Dell: $100/month
IRS: $125/month
---------------
Total: $475/month

3 payments is a lot easier to handle than 6, and my total minimum payments have gone down. I won't be paying any less (in fact, I'll be paying far more) but it's nice to know that I have some padding if I have a bad month.

The first step in this process for me has been to admit my mistake to myself and my wife. As many of you already know, it's hard to NOT know that you are in debt up to your ears, but many of us, myself included, don't like to admit it to ourselves.

So here it is: I've gotten myself in too deep, I've caused unnecessary and unhealthy stress in my life and my marriage, and I am going to change it.

Boy, does it feel better to get that out!

What was your turning point? What made you decide to take control of your financial life?