I still haven't found time to refi my car. My BIL gave me some great car shampoo so I may just clean it up really well and sell it, since I'm not upside down on the loan anymore. But then I wouldn't have a car since my DH rides a motorcycle.
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Getting Out of Debt - June 2013 - Page 3post #42 of 527/1/13 at 7:24amNew to this thread...
My husband and I quit our jobs two years ago to return to school for our masters degrees, and as an added bonus we had the amazing surprise of having our first baby girl a semester before graduation! Needless to say, despite the many blessings we have, it has been financially challenging. When we still worked we were on a cash envelope system that worked really well,but the fast-paced crazy nature of our TAs and school work made it impossible to keep up with. So to replace our old system (cash envelopes/excell spreadsheet budget) we converted everything to mint.com and started using our debit cards again. It has worked really well, especially since it allows both parties to keep up with transaction tracking in real time on our smartphones. Even though we've graduated and I'll be staying home with our daughter, we will probably continue this system because it works so well and tracks all of our spending nicely for tax purposes. It's basically the same envelope budgeting system only electronically linked to your bank account.post #43 of 527/1/13 at 3:43pmOkay, I don't know why this never occurred to us until now, but we devised a plan to ROCK BS3 and 4.
We own two houses. The one with the smaller mortgage is being rented out. If put all of my income to that house (which, I was planning to save/invest it anyway...starting next year [DH still has one more year of school]) it can be paid off in 4 yrs. That means that property would actually give us INCOME, which we could then slam through our larger mortgage and be living mortgage-free in about 10yrs. That's flaming CRAZY!!! And totally doable, as far as I can see. It also means private school for the boys is actually feasible too.
I feel a slight pang of guilt when I think of working through DS2's formative years, but I really do have a great child/family-friendly job and we've simplified life to help it balance (no commute, close to family). The freedom it will bring to our future will be freaking amazing!!!
I need to see the rules for paying down a mortgage stupid fast, but I have yet to find a fault in our logic. Can it seriously be this attainable??post #44 of 527/1/13 at 10:15pmpost #45 of 527/2/13 at 3:35am
Welcome katie. Sounds like you and DH have made some good financial decisions. Hope you can keep them up once you are done with grad school and spending time at home with your daughter.
eirual, sounds like an excellent plan! If DH and I could swing it, we would like to buy a house down the street from us - 4 bedrooms, new siding, new roof - $9,900! We could live in that because it is bigger and rent out the 2 bedroom house we currently live in.
AFM, ugh, I always feel like it is one step forward, two steps back. Yesterday I called up my fertility clinic, because I had gotten a bill for DH's semen storage, but I knew there should be a bill for some unpaid fees from the IVF and the storage fee for our embryos. I had most of the fee saved already, but there was more than I thought I owed - ended up paying the extra from my extra summer job to cover the whole fee so I could be done with IVF fees. I was hoping to put that extra money toward a home improvement loan I have as a third mortgage on my house. Because of it, I can't refinance the house. I really want that paid off this summer so we can refinance before I am no longer getting paid and the twins are born.
Today I am going to be learning exactly how my job will go for the next 6 months. Pay, benefits, job description, etc. I am excited and scared. Glad I have something to do and work that is significant as a math coach to elementary teachers. I will be talking with the superintendents today about their vision for how I can help teachers.post #46 of 527/2/13 at 1:07pm
I am excited! Not only will I have a job for the next 6 months I got a raise too! I am getting about $700 more a month. I have to wait until last day of July to see exactly what my take home pay will be. I will get paid once a month, as I always have since working as an adult. I can't wait for July 31st to come!post #47 of 527/4/13 at 12:15pmpost #48 of 527/5/13 at 3:44pm
hi guys :) great news no nights at mcdonald's anymore. I am not working there anymore. A customer at work liked the way I worked and offered me a job at his lab that does water testing. This is like getting a 2 dollar raise :)) I start working Monday My hours will be 8-5 m-th 8-12 fri no nights no weekends and no holidays. I have never had a job like this before not even sure what to do with all the weekends off. they don't give health ins but after 3 monthes they pay 100 dollars toward my insurance costs.
my balance on my SL is 1500 so with this Job I might be able to pay it off earlier. I really want to actively start saving for a house :)post #49 of 527/5/13 at 11:01pmpost #50 of 527/6/13 at 5:05pmpost #51 of 527/6/13 at 8:18pmpost #52 of 527/11/13 at 3:31am
Went and talked to our local credit union about transferring DH's Canadian car loan to the US and bringing his line of credit that he owes down here too. We keep getting dinged with fees to transfer money to Canada to pay those 2 bills every month. DH thinks the fees are no big deal but to me it is scandalous! The credit union loan officer was confident we could either have a car loan and a signature loan to cover the two bills or put both of them together into one signature loan and likely have payments lower than what the car loan payment is each month currently. Score if we an make it happen! DH has to make calls and get 20 day pay off amounts for both of those debts. Hopefully within the next week we will be able to look forward to lower payments to help knock off a couple lower balance debts.
We are also looking at refinancing our home - right now it is just in my name since I bought the home before we were married. DH would really like to have his name on the mortgage too but that requires refinancing in order to do that. If we can get a fixed rate mortgage for 2 percentage points less than we have, we will definitely do it.
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