I'm about to be honest. REAL honest.
Back in January, So Damn Domestic asked us to set ourselves some goals for the year. Here are mine.
I am slowly working on the "Live clutter free" and "Develop a task routine" but one that I have yet to put any real effort into is "aggressively pay off debt". Within a couple years, Keegan and I got an apartment together, finished 3 university degrees, bought a car, got married, then bought a house. Just one of these events is enough to cause some people financial difficulties, let alone all 5. I believe that at our worse, between loans, lines of credit, credit cards and car financing, we owed around 70 000$. Now we owe less than 20 000$. We have come a super long way in couple years of paying it off but I always feel like we could be doing better.
Although I won't be going into total details with all the numbers since we are just months away (finally!) from paying off our car and we constantly use our low balance credit card to earn free groceries (100$ since the holidays!) but I will share our progress on our only other debt. In 2012, we took out a consolidation loan so that we could clean everything up. Much easier to keep track of one loan than several different ones in different financial institutions.
Loan - 14,344$ - Automatic payments of 205$ comes out twice a month. If we stay as is, it will be paid off in 3 more years. Too many years for me. I would love to have this loan gone by the time we have a third child (No! I'm not pregnant! Lol). That is giving us about a year to work at it. I would LOVE to have it gone but December 31st 2014. We have, on average, a little over 1000$ of free money to play around so if I can keep our grocery bills to a minimum, we should easily be able to add quite a bit to our loan payment. Ultimately, the month of March will be a great indicator as to what we'll be able to do.
Do you have a financial challenge? Are you open about your financial situation or are you incredibly private about it?
- Becoming Granola
- I am a cloth diapering, breastfeeding, cosleeping, baby led weaning, extended rear facing, eco conscious, married mommy to two beautiful children. They have changed my view on the world we live in. It is now my number 1 goal to make it the best I can for them to grow up in. I find myself always rethinking how I want to live my life and often feel like sharing my findings and thoughts with others. So I guess here's my chance :o) I will talk about topics that interest me. If you dont like them or dont agree, well... there's nothing much I can do!