So many successes, despite all the challenges.
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  1. #1
    Registered User mommy4ever's Avatar
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    Default So many successes, despite all the challenges.

    As of today, we are debt free other than mortgage. It's been a HUGE HUGE learning curve.

    We paid everything off once before by rolling it into the mortgage. It was a fail. Why? Because we still didn't work together. It all fell to me to do.

    In January, I was close to a breakdown, dh wanted to do a big trip and there was just no money to do it. We had $10,000 in the bank, but had way more than that in debt... about $47K. He was upset. I got to shoulder all the blame for overspending. I sucked it up. I did tell him, that he had NO idea what it took to run the family, that he had no idea what the costs of living really were. He had to concede that, which made it difficult to balance every month.

    So, we embarked for the first time, together on a journey of family finances together. He took the lead, but I have input on everything.

    So, we put all the savings but $1000 on the debt. We sold the truck and put it on the debt. Multiple savings there, as it was a pig on fuel too.

    We sat down, we decided to keep our incomes in separate accounts, as mine fluctuates more, and divide payments. I can't say it was divided 50/50, that wasn't the point. We did it to pay things how we were paid. I am paid monthly, I pay most of the monthly bills(utilities, insurances and debt payment, dh is paid weekly, so he paid weekly bills.(mortgage/gas/groceries + 2 utilities).

    We sat down and looked at all upcoming payments, yearly mostly, and set up a savings plan to cover these.

    It wasn't smooth sailing. I find it difficult to ask for extra money for myself. For the kids, no problem, but me, it's hard, it's a little act of submission to my thinking, yet dh has yet to say no..lol.

    I lost over 1/2 my income for almost 4 months. We still made progress. Dh has been in an accident, hasn't worked in a month, and won't again for at least another month, but we have tightened our belts. We used part of the payout on the vehicle to finish paying off the LOC. We did get another vehicle, but we decided to get a lower cost one, and use the remaining $2K to boost the snowball, and then with my pay this month, I paid it all off.

    We each have a BEF sitting in the bank. December will be tight with him not working, and Christmas, but it will all be paid cash, then in January, with no snowball needed, the FFEF will get a nice boost!

    I have learned, dh as well, that we NEED to work together. Dh right now needs lots of support to keep things on track, but that is minor, as we are both aware of everything!!! He has all log ins to see bills online if needed, I have them too. We see that everything is paid, or paid in advance. It's fabulous! it's not up to one person to juggle it while the other things the money sitting waiting for bills, is spending money. We came out on top!!

    We are planning to have a nice 2014, debt free!

  2. #2
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    Good job!

    Scott

  3. #3
    Registered User Nadders11's Avatar
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    Congrats! Great job!

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  5. #4
    Registered User Contrary Housewife's Avatar
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    Congrats! Getting there is a long uphill climb, but the freedom you achieve is so worth it. Keep DH on track and it will become routine eventually.
    Stop trying to organize all of your family’s crap. If organization worked for you, you’d have rocked it by now. It’s time to ditch stuff and de-crapify your world.

    If you're not using the stuff in your home, get rid of it. You're not going to start using it more by shoving it into a closet.

    Use it up, Wear it out,
    Make it do, Or do without. ~unknown

    A clean house is a sign of a wasted life. ~unknown

  6. #5
    Registered User mommy4ever's Avatar
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    Thanks. I say support him because numbers are hard for him to process since the accident. So lots he is checking in a lot to make sure nothing is forgotten or miscalculated. Not that he is going on a spending tear.

  7. #6
    Registered User Rosebudget1's Avatar
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    So happy for you. I know it's a lot of hard work.
    I really sleep a lot better at night!

  8. #7
    Registered User Zhoen's Avatar
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    So very happy for you (minus the accident part, of course!) What a wonderful way to ring in the new year!

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