I feel weird about posting in the getting out of debt/low income threads because my financial concerns seem so different than theirs, so I made this thread.
We are fortunate. We have good jobs, a nice house, and can pay our bills & put some away each month. We don't have to stress about $20 here or $10 there. I do keep an eye on such things but they aren't the difference between paying and not paying bills for us.
But we also have over $400k of debt between the mortgage and all our student loans. That's the only debt we have--we pay our credit card off each month and own our cars free and clear. We can't get that quick satisfaction of paying off small debts because the smallest debt is $16k, and the one after that $80-some-k. (I paid off the $2k one six months after I graduated. That felt good.) Half our income goes to the mortgage and SLs.
Can anybody relate?
I'm trying to keep at least $9k in our EF because I figure that's 3 months' worth of one person's paycheck and what are the odds we'd both lose our jobs at once? But maybe I should cut that amount on the supposition that if one of us lost our job I'd put all our SLs in forbearance and that's $1700-$2000 a month we won't be paying (I pay extra nearly every month). It's taking me a lot longer than I wish it would to save up that $9k, and I also have to save up for our next car (I don't want to have a car loan if I can help it, and my 96 Accord won't hold on forever) and for my next mat leave (I work part-time so it'll be unpaid... but I'm not even pregnant right now so maybe I shouldn't worry yet.)
I'm not trying to have a pity party here or anything. I certainly don't think I deserve anybody's pity. I'd just like to chat with any like-minded folks who are interested.
edit: I was hoping to start a support thread, where those of us in this situation can chat with each other, rather than a thread that's all about me. :)
Edited by erigeron - 2/26/13 at 7:57pm