We are negotiating new waters at our place these days. Since February, all three girls have quit their jobs. Not one of them will get unemployment.
DD20 found a new job within 6 weeks. At first she was thrilled; now, not so much. But it is work, and she’ll be back on track paying down debt by the end of June. Although she doesn’t have a huge amount of debt, when you get behind, it matters. And hurts.
She came over yesterday and we worked on payment plans. She was beating herself up big-time.
She said, “I am an idiot. I am such a fool. I went back on what I always said”.
I asked her what she meant.
“I always said that I wouldn’t get credit. Then I turned 18 and what did I do? I got credit. I said I didn’t want to end up like my sisters, and now I am.”
“You can pay it all off, if you are diligent over the next few months.”
I showed her how it could be done, using the debt snowball method. Since she doesn’t owe that much, I figure she could be out of debt by Christmas.
It can be hard to teach your children about money, if you’ve always handled it for them.