Starting Over

The last post on this blog was two years ago. We still have that van we bought (see previous post) and we are still loving the low interest rate! I am interested in starting over though, starting over with the paying off the debt in a smart and good way.

Creative Commons License photo credit: llauren.

The past couple of years have been fairly steady for us. We haven’t moved (but we probably will this year), we still have our two cars (and two car payments) and we are doing well financially. We still have debt and I am going to aggressively fight to pay the debt over the next six months. I am still the one “in charge” of the finances, though I do talk things over with my husband.

I am working part time now, and along with that we are paying for daycare for our youngest. Our expenses for the older kids have stayed the same though sports, lunch at school, and other extra curricular activities do cost quite a bit. I am going to try to cut that down by having them pack lunch at least half the time.

I am also still in school, though I am down to the last five classes for my undergraduate degree.

We have five things I view as outstanding debts: two credit cards, two car loans, and one bank loan. I plugged the numbers of those five loans plus two mortgage loans into a debt reduction calculator and am debating the payment schedule. I have been paying on the credit cards, but one has a zero percent interest so I know I need to focus on paying something else off. I added the two mortgage loans in because they are the second mortgages on our houses and could be considered a really high car payment. The dollar amount paid each month on these is actually less then a car payment, but the total we owe is higher.

I am looking forward to getting back to being in charge of our money!

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