Can't seem to control our spending - need to clear debts...?

Hi All,

My husband and I have ended up in a bit of a pickle concerning our finances. We got married 3 months ago which has completely knocked us to the ground money wise.

We have unfortunately fell into the credit card trap and fully used up the one we have. We also are living in our overdraft and have a loan that is also being paid off.

Now we have just bought our house and that is knocking us as well... Problem is - I live in South Africa and now interest rates are hiking up again! I dont know if i can get out of this now that were in...
A budget plan is one of the hardest things to follow for us and we've tried yet always seem to fail...

Dont know if i can cope any longer and im scared of losing everthing...

Any suggestions on how to sort my life out quickly>???

The best way to run your family budget is to use the envelope system. Label a few envelopes with categories out of your budget; entertainment, food, clothes, savings, gas, etc. Fill the envelopes with however much cash you want to spend for the month (or week). When you need to make a purchase, take cash out of the appropriate envelope. This system is an almost foolproof way of limiting your spending and staying under budget.

You need to create a budget and stick to it. It was hard for me too, but if you trully want to get out of debt you need to see where you excess cash is going too. You make have to stop going out to eat so much, stop getting your hair and nails done as often, cancel on-line memberships that take cash out of your account monthly, and other in's and out's that you do not need. Even dieting can help save money. When out shopping you can cut out certain foods and save that way too. Now is the time to conserve all your extra money. Make the minimum payment amount on your loan and pay as much as you can on your credit cards. What ever you have left save it to get you out of over draft.