Advice on how our small family can pay off debt??! PLEASE?

I am 20 and my husband is 24. We have an 18 month old and a special iud baby that will be born in November. I dont make much money so our total income is around $2940 a month. He has a credit card balance that is $1080 and we have another card with a balance of $2963. His credit is already ruined because of a stupid mistake he made when he was younger and cosigned for a friend. But what we really need to do it pay off our debts because we only have 5 more months before the baby gets here, and then we'll have hospital bills. We also really need to build a savings account for when the baby gets here. We usually dont have much money left after paying bills. Any advice Please??Advice on how our small family can pay off debt??! PLEASE?
It would be hard to give you any advice unless I knew what your household budget was. In general if you smoke quite, if you drink stop, if you eat out alot make more dinners at home, etc....Advice on how our small family can pay off debt??! PLEASE?
Get Dave Ramseys book on Financial Peace. This is a very simple, basic book that is humorous %26amp; well written about getting out of debt %26amp; staying that way. Step by step, it leads you through the process of getting out of debt. He is also on the radio in the afternoon %26amp; on Fox Business Network at night.


Good Luck!


Do NOT go to consumer credit counciling...This will ruin your credit the same as bankruptcy!
The best advice , I can offer, is to go to a consumer credit counseling agency, there should be one located close to you, they will help you set up a payment plan. And may be able to reduce the interest you are paying on the cards.
I second Edward J's response. Go to www.daveramsey.com and checkout the financial peace university. It is an excellent program to go through. If you cannot attend that, at least try to find the book total money makeover at the library or order it online. Good Luck!
1. I say clip coupons all the time and buy sale items.





I once helped my family turn a $200 grocery bill into a $80 bill for scan and clipping coupons. trust me it is worth it.





2. Put all coins in a jar then cash them in.





3. Buy out off season clothes for cheap at places like plato's closet





4. research sales online





5.research the lowest gas prices in your area (www.gasbuddy.com)





6. have a set amount you put away if you have a job like 15%





7. set financial goals





8. rent movies from the library


______________________________________


SHOPPING RULES





1. never carry credit cards





2. make a list





3. don't carry all your money with you





4. look at different store prices
1. go to your bank and ask for their best rate for a combined credit card loan.


2. Don't use the cards for things you can't pay off that month. Please continue to use it once a month for gas and then immediately pay off.


3.Don't eat out, buy generic, shop smart and use coupons


4. Need new baby stuff? Goodwill or salvation army


5. Start a savings- $25 a paycheck, per week, is $1300 a year. That's a good start for emergencies like car repair and illnesses.


6.Look up your local case worker and see if you can get any assistance; state aid, food stamps- anything. Don't be too proud.