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Forum
-> Household Management
-> Finances
amother
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 Thu, Jun 25 2009, 6:56 am
Do you have debt? From what? Credit card debt? Bank loans? Family/friend loans? "Free loans"? Student loans?
Numbering in the thousands? Hundred thousands?
Paying it off, or getting more and more in debt?
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amother
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Thu, Jun 25 2009, 7:01 am
I had 12k (original principle) in student loans, 18k in credit cards, and dh had 18k in his student loans.
BH, with Hashem's help, we've paid off everything except DH's student loans (the largest debt, but lowest interest rate), and that is currently down to 16k. It's his job to work on that loan, and right now my savings every month is going towards an emergency fund to avoid future debt situations (3-6 mos of necessary living--rent, utilities, minimum gas, food, etc).
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alpidarkomama
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Fri, Jun 26 2009, 12:01 am
Zero, except the house. And, IYH, not that for too much longer (we're hoping to pay it off in 15 years total).
If we don't have the cash, we don't buy it. We have a very average single income in an average-expense city, but are very purposeful with how we allocate what we do have.
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amother
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Fri, Jun 26 2009, 3:06 am
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We have been paying down debt aggressively (not easy on a not-big income but we are resourceful). Used to be a lot more but now it's about $7000 in a combination of dental and business expenses on a credit card (0% interest for another 6 months or so), about $1000 in old medical bills, about $2000 in outstanding tuition yet to pay, and that's it - other than what we try to pay back to our parents for helping us buy a house (which we have since sold out of necessity, now we rent). Honestly our current debt sounds pretty good to me compared to many years of much higher numbers plus mortgage and a lot more stress! We are getting there.
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