Ended up moving into a vacant house my parents had for a while, to help make ends meet, made a lot of other sacrifices, but I did it.
I took a job a year ago for the “stability” — guess what? I started spending too much AND… will probably get laid off again in the next year, unless this firm turns around. It is almost funny! It also made me think of this group, so I am back!!
I got married in Dec 2012, and combined we still have A LOT of debt. We decided when we got engaged to really attack it aggressively– reduced our 75-100 person wedding to 10 people at a free venue. We all went out to dinner, had beautiful clothes, flowers and a professional photographer… under $2k, which we had in savings. LOL, I am selling my dress, etc. back on Etsy for what I paid for it, so that will recover some of the wedding costs, too.
I sold my car this weekend, we are now a one-car family. And $10,662 less in debt, with $425/mo less in car and insurance payments. Everyone thinks we are crazy, must have been a good choice.
Also cut back the cable (still in mourning), slashed the food bill. We are making progress, although I recently had surgery so we have some medical bills that we have to add to the list now. It should take us about 7 years to pay everything off except the house.
Rebuild emergency fund to $5k after surgery $3.5k — Sept 2014
DH’s Credit cards $18000 @ 7-9% — Sept 2013
Save for new car in case I get laid off $5k — Jan 2015
My Combined medical $6100 @ 0% — April 2014
DH’s Car $15000 (upside down about $5k @ 5%) — December 2016
My 7.0% Student Loan $117000
DH’s 5% Student Loan $55000
My 1.75% Student Loan $75000– student loans gone by May 2018
Mortgage (Home) $175000 (worth the same, 3.25% 30-year loan)
Mortgage (Rental House) $100000 (under contract to sell in Sept, will net $18k which will all go to DH’s credit cards)
Yes– that is $286,100k in non-mortgage debt, including $247k in non-dishchargeable student loans, lol. Feel free to inhale sharply and shake your head, we do all the time.
Basically, this is the order of attack. We net about $1500/mo for debt, plus I get quarterly bonuses that are still coming in. No way to know how much, or for how long, but usually $2500-4000 after taxes.
Let me know if you have any suggestions! Great to be back!