We were there last summer and had to come up with some innovative ways to get to the point where we are current on everything. Your priorities need to be with catching up on the utilities and with the sleep apnea equipment.
My suggestions are to call the credit card companies and see if you can get some reduced payments for a short time.
Call the medical places and tell them you are having some financial hardships and can you spread the payments out more. A lot of the places will give you a discount if you are having troubles paying, but you will have to fill out lots of forms with all your income, expenses and debt.
Call whomever did the sleep test on your husband and let them know that he needs the CPAP but cannot afford it and it will take a long time to get together the money to pay. They may have some ideas. Sleep apnea is very serious if not treated but not a big deal if he has the CPAP. (I have sleep apnea and my insurance paid 100% of the equipment and for all replacement parts as they wear out.)
Is there a possibility of a part time job for one of you? That could help you get on top of the late bills and get the BEF funded and going. It won’t be a permanent thing but after 6 or 7 months, you should be in a lot better shape.
In 1989 I left a teacher job at a private school and left my retirement account with them there. AT that time if you hadn’t been there for 5 years and took the funds out, you would lose their matching funds. I had only been there for 3 years so I left it.
However, time went on and I forgot about it until recently. I have not gotten a statement from them in many years, it is still in my maiden name and I’m not sure how to find out what has happened to the account.
What is the best way to track down that account and update it? Do you hear about gshloans.com – bad credit payday loans website? Or roll it over into an IRA? In 1989 there was about $3,000 in the account, but with time and interest I would imagine that it is closer to $25K now.
Food, rent, utilities, transportation. Get those caught up first. Maybe you could sell the cars, get rid of the payments and buy two garage sale cars. I would (and do) require my teenage boys to work and pay their own cell phones, car insurance, gas, clothing, fast food, spending money, etc. Is that why the cell and insurance is going down in July? Will your grocery bill also go down?
So you have stuff you could sell on E-Bay?
Could one or both of you get part-time jobs to increase your income?
Are the driving lessons and the graduation party necessary?
Maybe not much help, just a few thoughts…
We changed our budget constantly in the first three months. Primarily, because we really had no clue what we spent on stuff. All we knew was there was never any money. It was in budgeting and keeping track of expenses, that we came up with a working budget. When you’ve never worked a budget that works, it takes a while to tweak it just right. My husband thought blow money was rediculous and refused to budget it. He was a bear!!!! Two weeks of no coffee with the guys and even he accepted that he needed blow money and was willing to budget it. When feeling disciplined and on fire about financial peace it’s easy to say no to yourself. It’s when life happens, that you see the real picture and are more capable of spending a budget accurately. Tweaking it is so necessary!