We don't have an extravagant, consumer oriented lifestyle but years of making up shortfalls with credit have led to ridiculous amounts of debt and debt service. Our spending side is already pretty lean so after cutting out all the obvious stuff, we'll get down to stuff that hurts some.
I don't anticipate spending a lot of time chronicling how we got into the mess. It seems more productive to determine where the fat is in our budget now and what behaviors need changed now. I'm going to get into that nitty gritty stuff as I can.
What I know up front is that after I make nearly all realistic cuts, I still have to seriously boost my income with secondary sources so that is something I'll be exploring immediately. Additionally, I'll be trying to move some high-rate/high balance debt around so that I can lower my minimum payments and get more cash applying to debt.
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