I'm asking this because I'm fairly confident I can make a budget if I were starting with my bills current… However, I have NEVER followed a budget and I didn't realize how much money I was spending on a babysitter to come to my home, the hourly and even weekly amounts didn't seem too bad in my head. But then the inevitable happened and before I knew it most of my bills were 2-3 months behind and my credit score went from a 720 to a 550 within months. I quickly stepped back and figured out where my money was going on a monthly basis and most was to childcare (which ended up being, monthly, more than my mortgage). I've since got rid of our sitter because my wife is a teacher and is off during the summer, but school will be here soon so I'll have to do something. Some family are going to help (not free though) which will save me approx. 300 a month compared to when we hired someone. Now my main issue is catching my bills up. I had a plan (not a budget) that I'm sure would have worked before the end of summer so we'd be caught up when we have to pay for childcare. Unfortunately my wife only gave it 3 weeks and then would not agree to continue my plan and plan would take forever… Any suggestions would be greatly appreciated. Also. Is there anything I can do aside from borrowing a lot of money to catch my bills up and maintain that status that would increase my credit score, and how long after I'm current will it take to regain my previous score? Thanks again!
Read more: How to create a budget with bills past due, or a plan to get them current?
