Saturday, March 14, 2015

One down and One to go

I am happy to say Dh and I were able to pay off our car loan yesterday 5 mths early.  OH FORGET JUST HAPPY!  WEEEEEEEEEE!

 That leaves us with one credit card.  We haven't have debt this small since we were first married.  You would think our focus would be that credit card, but it can't be yet.  We pay about 25% over the minimum each month right now.  We will continue to do that because we have things taking precedence over that card.  After taxes are paid ( cause even though DH worked full time as just an LPN and I worked 20 hrs a week in registration the govt thinks we are in the top 10% of wage earners and therefore socked us good), our focus will turn to saving to repair Dh truck.  We hope to have it in the shop end of May.  Once the truck is fixed and we are back to a two car family, our focus will turn to this credit card.  The way we are accomplishing this is by budgeting only my husbands paycheck and living off of that.  That allows my paycheck to be used for debt payoff and saving for big things.  Sounds easy, but it does have its draw backs.  I have to live, i.e, cook, garden, bake, etc, like I am a full time stay at home mom.  Working 32 hours a week is going to make that difficult, but worth it in the long run.   Since it is a rainy day in my neck of the woods, my plan is to bake items to use in the next week or so.  Breads and cookies and maybe granola are on the list for today.  We may have to go out today so all of the items will be mixed this morning and baked tonight.

Can I please just throw in this little plea?  If you currently have no debt, keep it that way.  If you have debt, stop adding to it and pay it off.  My husband makes about 37,000 a year.  Out of that comes taxes (thank you very much), Health insurance, and Health Savings account. He brings home about 2200 a month.  It is amazing to me that we are able to make all of our bills and then some(tithing, savings,etc) on that small amount.  Because we no longer have massive debt!  Society doesn't have to buy into the philosophy of both parents having to work.  It is possible to be a one income family.  How bad do you want it.  What are you willing to sacrifice?  I have had people comment that we are so fortunate that I only work part time.  Fortune has nothing to do with it.  We chose to do without all the bells and whistles.  We don't have the latest gadgets, or great and lofty cable packages.  We eat out at a restaurant rarely.   Movies at the theater are events.  I shop at thrift stores or clearance, etc or sew.  I cut mine and my sons hair.  My point is we have given up a lot of things to have this ability.  I tell people we chose poverty.  But in the end I feel like we are blessed.  I miss nothing.  I know not all situations are like ours.  I know there are single parents, wives who work to provide income when their husband can't, or situations where there have to be two incomes.  But if debt is holding back that dream of a one income family, that is fixable.  That you can change.  Not by necessarily finding a better job.  That can help, but if the problem isn't fixed at 30,000, it won't be fixed at 50,000.  It will just be a bigger problem.   No, you change your circumstances by working hard at paying it off and then keeping it off.  Once that is paid off you can say in  the words of William Wallace (okay if I have to tell you who he was we have problems.  Think Braveheart)


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