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…….
When H switched companies he ended up cashing out one of his retirements and paying the taxes and 10% penalties. It wasn’t a ton of money, but he felt a better use for it would to fix our driveway. So for a brief period of time our checking account looked awesome! How I wish it was always that high! Someday….
Some genius who owned the home previously thought it would be a great idea to cover half of the concrete along the side of the house with asphalt. Thus, making a giant lake along the foundation of the house every time it rains. This is not good for the house or my allergies, as it encourages mold. So for the sake of our home and health we are decided to put in a new concrete driveway. Goodbye $4500, nice seeing you, please come back someday.
In addition, the weird front porch and boardwalk was in terrible shape, as was the back deck (also weird, as it had no access from the house). With the help from some friends we managed to tear both out for the cost of a dumpster, $350. It turns out that the front porch was even more in need of being ripped out than I thought. I discovered where the carpenter ants had set up a colony when I tore up one of the boards and they streamed out. I may have screamed a little!
Given all this, we are also adding a sidewalk and a new smaller front porch, price yet to be determined. I was hoping the concrete under the front porch would be in decent shape, alas it was not in any condition to keep as our entryway. The good news is that there was a patio underneath the back deck in decent shape. Now we have patio that doesn’t feel like it is going to give out on us when we walk on it. Hooray!
It may not have been a smart move to use some of H’s retirement in the long-term. At least we won’t cringe and worry about the basement every time it rains. Relief is worth every penny.
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 am in the process of updating Single in Debt, Couple in Life. Over the next few weeks I am going to migrate the blog to its own .com (address pending). Why? I just want more control over the look and feel of the blog.
Also, I created a Twitter feed. My plan for the Twitter feed is to use it to announce my postings and to share my favorite postings of the other financial blogs I read.
I hit a lull with Single In Debt for a while, but lately I’ve felt the desire to write and I am going with it.
One week from today, I will be married. Weird….
Everything is set for the big day. We have even started planning and filling out the paperwork for insurance, etc.
It will be weird but good. We are going to sit down after the it day and look at our finances again to see how soon we can knock out the last credit card and build up an emergency fund that can cover large home expenses. With two houses there is more that can go wrong.
Half of the wedding related bills are paid. I have the final reception payment to make, my hair appointment, and the hotel room.
I will not miss you!
Today is payday, and today my 401k loan is gone, baby, gone!
What started as $10,100 debt is now at ZERO!
In October I hope to crow again……
Mom called and said the sewer line was backing up again. Time to clean out the tree roots.
The plumber came and cleaned out the line and sent me an estimate to replace it with PVC.
Do you know how much replacing a sewer line in the city will cost me? $10,068.
I don’t have $10,068! Apparently, at least half or more is to pay the city to replace the sidewalk and curb. I have no recourse, they will not allow me to try to bid the project out. Ugh!
Frankly, I don’t want to spent ten grand on a house I don’t live in and can’t sell without a loss of at least 30 grand. I am feeling a little stuck at the moment. For now, I will continue to clean the tree roots until I no longer can.
I’ll deal with it later.