H and I have agreed to combine our finances to pay off the debts together and save, save, save. We both kept our own accounts and a certain portion of our checks go into them for “fun” money. I don’t get much, but I can order a latte when I want without the guilt. I have transferred all my payments to our joint account and H will continue to pay the auto-debits with his Credit Card and pay the card from our joint account. We pay it off every month and have accumulated $200 in unused points so far. At some point we will probably use them for household items such as dog flea/tick stuff. H still has his car payment and the mortgage coming out of his own account. They might move eventually, but for now it works.
We also decided that we are going to have the last credit card paid off this year. We are shooting for this Summer.
H deposited his parting pension money ($4000) from his former employer into our joint savings account to put toward the credit card. I can’t wait to send it in. It requires me to swallow my pride and highly independent nature to do this, but in the end we are in this together. I am waiting until I complete our taxes to do this, just in case. This will be our first time filing together and our combined income is basically double what mine is and I am worried that about the funds he cashed out and our withholding. It’s kind of funny sad, H grosses less than me, but his net pay is higher. But then I pay the medical insurance for both of us, really expensive Long-Term Disability Insurance, I have union dues, and I have to pay to park at work.
After we pay off the credit card, we decided to attack my house debt over the car and student loan. We will talk to a real estate lawyer first, but we think we might be able to pay the house down enough in two years to break-even on a sale. This would simplify our life immensely.
I think we can, I think we can, pay off $12,000 in debt in six months…….
I have new totals up for the end of November. My last credit card is below $13,000.
H and I showed up at the polls at 6:35 a.m. and got out vote out of the way. There was a quite a line, which makes me proud regardless of how they vote. Granted, I’d like more of them to vote along my line of thinking, but we can’t have everything.
The election is pretty interesting this year, not just for president, but Michigan has six constitutional ballot proposals to vote on. Some of them are controversial, some are just confusing to most people. I happen to know the in’s and out’s of two of them because of where I work. One is a no brainer, but the other one still had me undecided, even with my knowledge.
Anyway, I hope everyone has a chance to get out and vote. Sometimes it doesn’t feel like our individual votes count, but they do. Unfortunately, I think with this election, no matter which person wins the presidency, there is going to be a lot of anger on the part of the losing side.
Now that I’ve whittled the number of debts down, I have all the payments made by the middle of the month. I feels a bit weird to only have a couple of debts to keep track of.
I am not sure what to do with myself. I think I might just start extra payments next month just to give me something to do…….
I mentioned that I am in school to become an accountant. My ultimate dream is to freelance in bookkeeping and managerial accounting. There is a problem, however. My Debt.
Anyone that knows me personally knows I would never dream of embezzlement. For many reasons:
- It is wrong!
- It is hard enough for me to accept things/help from others let alone take things that don’t belong to me. I was raised to “take care of myself and not accept help”. Luckily, I am learning to accept help from others and it has enhanced my life.
- I would never want to ruin my life, the lives of the people I love, or the livelihood of the people who trusted me to take care of their finances.
- I am someone who doesn’t want to let others down.
- Lastly, the thought of jail terrifies me and I am smart enough to know that everyone gets caught eventually.
That being said, if any potential employers or customers do a credit check, I am pretty sure I am not going to look very solid to them given my debt load.
It is now even more imperative that I get out of debt for my future employment opportunities. Who wants to hire a bookkeeper/accountant who is $90000+ in debt?
I thought about it and decided to add the one debt H has to the debt side bar. I am including his auto loan but not our mortgages.
We are not even close to being able to pay down the mortgages and I don’t want to muddy the numbers when we won’t be focusing on them at all.
Our goal is to pay off the consumer debt and student loans. The student loans are not much less than the mortgage on my house. Theoretically, we will be able to get enough money to pay off the mortgages when we sell. Some day, anyway. Maybe?
So I have added my new husband’s debt to the side bar, all $2915.84 of it. It seems so tiny…….sigh.
I transferred some money around and managed to scrape together the last $600 to pay off Credit Card 1. I just couldn’t wait. I wanted it gone more than anything!
We are now down to one credit card payment, one student loan payment, two car payments, and two mortgages. I love eliminating a bill.
One car payment and one mortgage is what my soon-to-be husband brings to the marriage. I am considering readjusting the blog to include his totals and my mortgage. Although our focus is really on the consumer debt and student loans.
What do you think? Should I readjust to include everything? Or maybe just put it as a side note?