2 ‘Photos by Losile Westhrock/Iwestbrock@theadvertiser.com Shelley Stely stands surrounded by packed bores in her apartment Friday afternoon. Stely was packing to move from her Lafayette apartment to a rental home in Opelousas, where she'll save about $60 per month on rent and $100 on day care. Fundi Drowning in debt puts a halt on savings plan Bob Moser bmoser@theadvertisercom Shelley Stelly's eyes well up at the thought of saving for her or her daughter's future, She's barely paying the bills now, drowning in $47,514 of credit-card and medical debt while cutting almost every “want” from her month- tomonth lifestyle. Little Molly, 3, deserves more than the $0.19 rusting away in her mom's savings account, “Idon't even know where to start,” said Stelly, her head sunk in hands at the kitchen table on Sept. 28. She and Carl Kephart, ‘adviser with Primerica Financial Service met in Stelly’s home as part of The Daily Advertiser's Money Makeover series, She was packing to move ym her Lafayette apartment toa rental home in Opelousas where she'll save about $60 per LOOKING FOR HELP? Looking for free finan- ial help for yourself or your family? The Daily Advertiser wants to help ‘connect you with a finan cial adviser fora new series of business stores, Email or call repo Bob Moser at bmoser@the ‘advertisercom, or 371- 3362. We'd like to hear a bref description of your ‘current financial goals and challenges, We may select you as a subject fora future story, during which you will recelve financial planning service from a local profes- sional. Some of your finan « Cial information and the ‘acviser's recommenda. tions will appear in the ‘newspaper, along with a Picture, if you're chosen, 's Stelly’s second move within six months to free up money. At age ‘Seo FUNDING on Page 38oT Continued from Page 1B Funding behind on saving for retire: ment or Molly's future, But Stelly can't do that until she makes a dent in her debt, which she'd pay off in 2034 at $1,083 per month, her current pace that just covers all the minimums due. “[have to be in a different situation within five years,” she told Kephart. “I'll do ‘whatever you tell me to do.” Stelly’s story sounds rare, but only because so few ‘Americans in debt seek help. ‘The average American household with at least one credit card has nearly $9,200 in debt (US. families average seven cards), according to CardWeb.com. Consumer credit-card debt has nearly tripled in the last, 20 years, from $238 billion in 1989 to $800 billion in 2005, according. to an analysis of federal data by Demos, a national research and consumer advocacy -oup. ‘Much of Stelly’s debt has built recently through little more than bad breaks. ‘She remembers under- spending in college and built good credit up until she was married, But two health emer- gencies in three years racked Up hospital bills, and she , inherited debt from her hus: band following a divorce one year ago. ‘Necessities like food and gas are getting more. expen sive, and health insurance at the law firm where Stelly ‘works has changed and now costs more. “Medical, food and house- hold costs in the US. have gone up 11 percent in the past five years while wages have stagnated since 2001, accord: ing to the Center for American Progress and Newsweek. Stelly has found ways to cut costs. She takes advantage ‘of Angel Food Ministries, @ food co-op at Life Church of Lafayette (6408 Johnston St.) ‘where anyone can pay $25 for 2 box of name-brand gro- ceries valued at $55 to $60. ‘She also canceled her health insurance (though kept ‘Molly on), and finds free activ- ities to do with her daughter ‘But Kephart gave her anew game plan to budget and pay off debt that, though painful at first, may be the antidote to hopelessness that Stelly said she’s sought for so long. ‘She'll begin “debt-stack ing,” paying off the smallest debts first and reapplying that money to the next, ‘The hammer she'll use to mock out debts grows larger this way, and it's a confidence boost to see entire bills disap- pear. If Stelly stops charging on the cards now she'll be debt-free by 2012 on this plan, saving $17,000 in interest pay- ments from the way she pays now. “Having a plan like that to control yourself and to see it fn black and white for the first time, well that’s huge,” said Stelly, of the chance to shave 22 years off her debt-free date. k