Still Following Our Baby Steps

Good morning blog-o-sphere, here is an update on us and the last year.

As you know we are big Dave Ramsey fans.  We have paid off debt over the last 4.5 years and we have gained debt through the sale of our home, a major surgery, and now in an attempt to regain custody of my oldest.  Before discovering Dave Ramsey we had the typical consumer debts like a credit card and a couple of car loans.  We paid all of that in 11 months while we bought a house and my husband was working full time and going to college full time… and with a young baby.  We also found out we were expecting again during those 11 months.

We successfully paid of the $7,500 that we borrowed to avoid having to do a short sale on our home… It only took us 4 months!

Last July I had to have a major surgery.  All is well now and I feel better than ever.  But during that we had to pay our $10,000 deductible.  Ouch!  We worked hard and paid it off as fast as we could.  Then this May I got a call that yet another bill was coming in from it, 10 months later.  Luckily it was only for $13.80.  But still it felt like the surgery was stalking me.

This year we set out to regain custody of my oldest.  He is 8 and my ex husband got full custody during the divorce then gave guardianship to his parents.  So we thought it was about time that Mr. Picky get the opportunity to come live with me and our family.  Between lawyer fees and a court ordered family vacation to Southern California we have incurred more debt and sadly it is on a credit card.  We are skimping and saving and working hard to pay it down as fast as possible.  Obviously the lawyer charges more per hour than we can afford each month so we also have plans to do specific things to pay it down and hopefully get rid of it in the next year.  Some of our ideas are paying extra each month, getting rid of our iPhones, selling our second vehicle, and using our tax return toward it.  My husband also picked up an extra job as a College Instructor so the monies from that will go toward the debt.  We have even tossed around the idea of selling our custom built home, taking the equity, and buying something like a few acres with a home or even a duplex that could bring in an income.

Through all of this we are still grocery shopping with cash, using our envelopes, and not impulse buying anything.  It is as hard as ever but at least it has become a habit over the last couple of years.  We are still a single income family with one family vehicle and recently we added a puppy to our family dynamics.

I hope the last year has treated all of you readers well.  Have you experienced set-backs in your attempt to become debt free for life?

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2 responses

    • Thank you for your comment. We find ourselves talking about Dave Ramsey like he is our conscience. We go back and read some parts of his books just to remind ourselves why we are doing this. Yes, it would be easier in the short term to be impulsive and live with some debt and have some nicer things. But in the long term we know we will appreciate all the work we have been doing. When we are able to retire with dignity we will look back at our 20’s and thank ourselves.

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