Welcome, Fred...we're glad you're here!
Fortunately, there are some easy changes you can make that will provide more money for your debt. The question you need to ask yourself (and discuss with Mrs. Fred) is this: "Do we NEED it and is it worth the amount of money I will no longer have."
- As Maigahane pointed out, you can get 12k by cashing in the gold. I'll be honest, I don't know a thing about precious metal investments.
- I know you haven't answered in reference to your daughter working/job hunting but to add on, is there any chance of her contributing to the overall good (truck payment, utilities, groceries, etc). Side note, i'm not a parent but I can imagine it might be difficult to broach that subject.
- Since you work from home, you could get rid of the truck and let your daughter use your car and it also saves on gas, insurance, and maintenance.
http://www.mrmoneymustache.com/2013/04/22/curing-your-clown-like-car-habit/ http://www.mrmoneymustache.com/2011/11/28/new-cars-and-auto-financing-stupid-or-sensible/- Not sure what's in the shopping/misc category but you should look at reducing it significantly.
- Grocery category seems a little high, a little more planning may help in that department.
https://forum.mrmoneymustache.com/ask-a-mustachian/help-with-weekly-meal-planning/- Beer/wine is low but is it necessary right now? That's $300/year.
- Stop eating out. I repeat, no restaurants.
- I'm not sure what child activities refers to but IIRC, you have one child who is an adult. She should pay for her own activities.
- Are the business subscriptions and payments necessary? Can you change or reduce them?
- Unless you're getting a significant tax reduction with your charitable donation, cut it.
- No more toys/junk/gifts.
- Clothes and shoes can be purchased second hand if needed at all.
- No need to get nails done and haircuts can be given to each other.
https://forum.mrmoneymustache.com/share-your-badassity/just-cut-my-own-hair/- Electricity use isn't too bad.
https://forum.mrmoneymustache.com/share-your-badassity/why-do-you-use-so-much-electricity!!/- Cell phone use is expensive. There are many less expensive alternatives to the big three.
https://forum.mrmoneymustache.com/share-your-badassity/communications-tech-isps-voip-cell/- Ditch the cable, ditch the landline, and get a standalone internet package.
- Skip the vacations.
- Is IRS payment reserve making payments on your presumed taxes? Can you put this money in a high yield savings account each month so you're earning interest instead of the IRS?
I tried to hit line by line and when applicable, there's a link to another section of the forum. Like acroy pointed out, you'll get some face punches at first, but after a few months, you'll be back to repost how you've cut your spending in half, paid down a third of your debt, gotten rid of a car, and (most importantly) how you've never felt better! I wish you, the Mrs., and your daughter the best of luck. We'll be here if you need us!