Getting out of debt in January 2014 - Page 2 - Mothering Forums

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#31 of 34 Old 02-28-2014, 05:36 PM
 
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I have a question. I thought that I would be paying on medical debt for years, but I am getting enough of a refund back that I will be paying it all off. The only debt I will have is a student loan. Is that still in baby step 2? It's in a hardship deferral and has been since I left xh in 2010. Should I try to pay that down as fast as I can (still won't be able to pay the required payments but would be able to pay something since medical bills will be gone) before starting saving for car and furniture replacement? At this point, we still don't have a couch; we have 2 chairs in the LR and I sit on the computer if my dad and his wife come over.

 

My house was a HUD property and is paid for but still needs more work (more leaky windows to replace, replace dish washer, repair walls/cabinets, paint, replace eat-in kitchen & laundry flooring). Where would that fit in? I'm not sure in what order it would be best to do things.

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#32 of 34 Old 03-01-2014, 05:51 AM
 
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I believe student loan debt it in Baby Step 2. I think I would spend some of your refund on some chairs or a couch to make you house more like a home, not an empty shell. I am sure craigslist or kijii depending on where you live will have some great deals. Then I would split what you have left between paying off some principal of the student loan (but keeping it in deferment until you can make that minimum payment as you work toward paying it off) and putting the rest in savings for unexpected household repairs (furnace breaks, hot water heater dies, etc.) If repairing the walls has to do with structural integrity, do that first before paying off the loan. If it doesn't then, wait for that and other household upgrades until the debt is paid off. You are fo close!
pollyanna02 and Landscape like this.

Crafty Geeky lady (37, hypothyroid) married 7/2010 love of my life (42, azoospermia). I believe in MIRACLES! Twin boys born 12/21/13 at 40 weeks 2 days! 3/52 crafts in 2014 Ramsey's BS1: Done! 2/17/12 BS 2 goal: 6/7/17 no sperm initial DX 3/23/12 BFP 4/7/13!
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#33 of 34 Old 03-03-2014, 05:28 PM
 
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I agree with lilacvioletiris! I feel that my home is my place in the world and it's condition, paint, decor, dirty, clean, cluttered, organized, has a dramatic impact on my sense of well being.

My mom just scored a real leather loveseat in immaculate condition, seriously beautiful for $75 on craigslist!

Depending on how large the student loan was and how long it was going to take to pay off I would split money between the student loan and emergency fund. Being that student loan interest is tax deductible I have always saved them until last to pay off and am in no way against building up your savings before paying off the student loan. Once your savings is finished and the student loan payed off I would then start saving towards your car and home repair funds. Starting with whichever is more important to you.

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#34 of 34 Old 08-11-2014, 01:29 PM
 
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I think it is time for a change up with this thread - there are some who have let this thread go because they are no longer in debt but are still Dave Ramsey supporters/doers. So I am going to start a Dave Ramsey Support Thread since it is August and this thread has seen no actions since March. I am sure there are some people out there that are doing Dave Ramsey like things, whether it be the "pre-baby steps" or on a baby step.

Dave Ramsey Support Thread Summer 2014

Come on over

Crafty Geeky lady (37, hypothyroid) married 7/2010 love of my life (42, azoospermia). I believe in MIRACLES! Twin boys born 12/21/13 at 40 weeks 2 days! 3/52 crafts in 2014 Ramsey's BS1: Done! 2/17/12 BS 2 goal: 6/7/17 no sperm initial DX 3/23/12 BFP 4/7/13!
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