Financial Check In Update
By divalounger
@divalounger (6182)
United States
September 26, 2016 5:28pm CST
For those of you who don't know, we are on a mission to pay off debt before my husband retires. He is set to retire in 7 more years, me in 10. About 2 years ago, I decided to get serious about paying off the debt, increasing savings and retirement and about most things financial.
I keep track of all the payments and balances and at the end of each quarter, I do a financial check in. I am due for the next check in September 30.
We have all the usual debt: mortgage, credit card debt, student loans.
At my last check in at the end of June, We had paid off $8125 of debt that quarter. So I am hopeful that we will be hitting a similar number at this next check in.
I am not particularly good with money, but it feels great to watch those balances come down!
10 people like this
12 responses
@JamesHxstatic (29410)
• Eugene, Oregon
27 Sep 16
That is a big bite that you took out of debt. Congratulations!
2 people like this
@divalounger (6182)
• United States
27 Sep 16
I am determined James! We have enough retirement to be ok as long as the debt is paid off--so a lot of my mental energy goes toward this task--and I feel like I am getting better at it--so thank you!
1 person likes this
@JamesHxstatic (29410)
• Eugene, Oregon
27 Sep 16
@divalounger We worked at that as well. I work some part-time these days for "mad money."
@BelleStarr (61463)
• United States
1 Oct 16
That is what we did, wee paid off all our debt before we retired and it makes living on a fixed income much easier.
1 person likes this
@divalounger (6182)
• United States
1 Oct 16
Congrats to you! That is wonderful! I think it really does make a difference!
1 person likes this
@divalounger (6182)
• United States
1 Oct 16
@BelleStarr I took a look at the numbers about 5 years ago and I realized that if we got rid of the debt, we would be fine--but if we hung onto the debt and onto our lifestyle, we would eventually lose the house. So it was really a no brainer. It looks like a lot of debt still on paper--the house--some credit card--and some student loan debt--but each month I chip away at it--and I am glad that I do
1 person likes this
@BelleStarr (61463)
• United States
1 Oct 16
@divalounger It has made life so much less stressful. We knew friends who struggled in retirement and ended up having to go back to work and we did want to have to do that, we might do it if we feel like it but that is different than having to.
1 person likes this
@divalounger (6182)
• United States
6 Oct 16
@marlina I have--and I like his take on things for the most part--but we started everything late and together--so we bought a house, I went to grad school and the kids went to college in short order and then I started paying attention to the money after we had incurred the debt--and since retirement is not too far away, we kind of need to pay things off and save for retirement all at the same time--not exactly the Dave Ramsey method
@marlina (154103)
• Canada
4 Oct 16
@divalounger Have you ever listened to Dave Ramsey show?
1 person likes this
@divalounger (6182)
• United States
9 Nov 16
That is what I am hoping Judy! We are on our way! And we are carrying about 1/2 the debt that we had even three years ago!
1 person likes this
@JudyEv (382329)
• Rockingham, Australia
9 Nov 16
@divalounger Well done. I'm sure it is not easy but it is SO worthwhile.
@divalounger (6182)
• United States
1 Oct 16
Thank you!! We are on track. We have 7 years to finish--so luckily we have time!
1 person likes this
@RubyHawk (99367)
• Atlanta, Georgia
1 Oct 16
@divalounger That's wonderful, not many people plan so well.
@divalounger (6182)
• United States
28 Sep 16
I have 2 more bills to pay before I total everything--but it is looking good!
1 person likes this
@mom210 (9170)
• United States
30 Sep 16
We will be on the same mission in a few years. Hubby had to go back to school, so we are partially living off credit cards. We are trying to be frugal, but it still piles up. His first few years back to work will be, paying off debt and preparing for retirement.
1 person likes this
@divalounger (6182)
• United States
1 Oct 16
We did the same for a while--we had two kids in college at the same time for two years--I am still not sure how we did that!
1 person likes this
@mom210 (9170)
• United States
15 Oct 16
@divalounger we tease the kids and tell them we are just going to move in with them when they get their own places. They do not appreciate our humor 
@PainsOnSlate (21845)
• Canada
2 Oct 16
Good for you for addressing the issues before retirement. When we were young we got into a huge credit card debt. Looking back we are grateful we were young and a bit crazy when that happened. We learned at lot. We cut up our card and didn't have a credit card until we moved to Canada...(16 years later) but then we knew we couldn't use the cards unless we could pay for them every month. We have not paid a cent in interest since we moved here. Fortunately our students loans were paid for when we first got married.. Hubby was making a lot of money but instead of using that money we use credit cards and almost downed. Live and learn.
1 person likes this
@divalounger (6182)
• United States
2 Oct 16
Sometimes, it is a live and learn thing. I hate the credit card an student loan debt. It drives me to distraction to see how much interest we pay
1 person likes this
@divalounger (6182)
• United States
27 Sep 16
I feel like we are on a roll! Thank you!
1 person likes this
@KristenH (33591)
• Cuyahoga Falls, Ohio
27 Sep 16
@divalounger You're welcome. I bet you are.
1 person likes this
@FayeHazel (40230)
• United States
27 Sep 16
Oh good for you! I know that does feel great doesn't it? To pay down on/ pay off charges? I have some pesky credit cards I need to start paying on.... I used to have balances on 3, now I'm down to 2, and soon, possibly next month I'll be down to just the 1
1 person likes this
