Decreasing Debt Update

It really helps me stay on track to mark all the decrease--thank you!

We are trying to get the house paid off!--and other debts!

That sounds like a good plan Marsha--we do have a mortgage and I am trying to get that paid off as fast as I can--I waited for my surgery for almost a year so that I could go from my insurance plan, which had a $6500 deductible, to my husband's plan, which has a $0 deductible --so my surgery was fully covered--but I am paying about $150 more a month now for it--good luck with your insurance--

@MarshaMusselman Actually, it sounds as though you have thought this through quite well. You plan makes sense to me. Ours is somewhat similar, get the credit cards and equity line paid off first while working at the mortgage. What sort of business do you have?

@divalounger My goal is to work on the small debt first for the first year and a half with the extra from ssc and then begin on the home equity. Once the small bills are taken care of more can be applied to the equity and later the mortgage. We won't get it paid in full before retirement I don't think, but it will be more managable without all those other bills on top of it too. Unfortunately we do need to invest in a new used vehicle to work our business. That will happen once I get one more stub from work next week. The money from our business covers most of our bills for the year except the winter months when we close it up for the winter. If our credit isn't good enough for our own loan we may be able to get my sister to do a secured loan for us like she did for our kids. We're hoping we won't need that though as she just bought a new condo and has yet to rent out hers.

@PainsOnSlate That is a wonderful position to be in! Congratulations! You did tell me I think some time back that you and your husband faced a similar situation at one point and fixed it. I find that inspiring! I have missed you as well--I still really miss the old Redgage crowd--hope you are well and happy!!

I've missed you but I'm not here a lot, the last few days I have been around and am very glad to run into you.. Speedy recovery and success with the debt...!!!

We keep plugging away at it--I handle the money and as I started crunching numbers several years ago --thinking about retirement, I realized that we had to change things--so I sat down and over time--have devised a different way of handling the money--money still scares me though

@DianneN I am hoping so!

@divalounger One does have to think of retirement early on. Sounds like you are on the right track.

I have too much of one and not enough of the other

Thank you Arthur! It is a slog, but I think it will be worth it to be debt free in retirement

Keeping the journal and writing about it seem to help me stay motivated--and thank you!!

That would be great James! Almost done! I am thinking we will need a new car before too long as well--we are managing on one car at the moment --and I am saving money for an car so that we each have a bit more freedom--

@divalounger Really good. My car paid is off in two months.

Thank you! Hanging in there with it!

It does feel good. There is something quite powerful in crossing off chores and in seeing those numbers come down over time!