creating a debt free life

One step back …

Since my last post we have moved into a home we purchased. For some reason this move h as been one of our hardest yet !! We had rented an apartment closer to work to see if we would like it, and we did not . Our home is being rented by our daughter and her family so we bought a second home.

We did a lot of the things you are not supposed to pull this off. Took out a 401 k loan, Suze Orman would skin us alive for that, but we only had 20 grand in the account and borrowing half allowed us to pay off the old loan and pay for the closing we had to pay and the five percent down on our 104 grand house. We had to pay to rent the truck and gas and all of that, and whew, it was a mess.

We had no washer and dryer, no fridge, so we got out our Best Buy cards and bought them with 36 months no interest.  We hope to get them gone in about 24. We just got a zero interest card for 18 months with a way lower interest rate after those 18 months if we do not manage to pay off the three  cards we plan to transfer , although we should have no problem doing so. We will divide the balance by 18 months and get it paid off.

So, we are backwards a bit, but still just as determined to pay off debt. Just a detour, or as I put as the title , a few steps back. In  March we will pay off our largest payment, his credit union loan with his bonus and that will free up almost 300 bucks a month  to pay down the new credit card and when that is paid off it will all go to the Best Buy account since that has the longest no interest amount and by March of 2015 whatever is left his bonus will take care of  and leave enough to tackle anything else we have not paid yet. The car is the last thing we will tackle, but once all the other debt is gone, we hope to take that six year loan and turn it into a four year loan, maybe even a bit less. I would love to make it three, but four is most probable at this point.

So, we took a few steps back, but we will get caught up very fast and get back on track. The whole point was the mortgage on this new house is only 750.00 a  month, to rent it would be  300 more a month. So, whatever it took us to pull this off, we are happy to own the house we live in, well, the bank owns it, but at least we are not renting !! We are paying much  less than rent would be, and very happy to be back in our home town and close to our family again !!

I will be posting on a more regular basis,  but I have been posting on my beading post a bit more regularly if you want to check it out. IT is not always beads, but usually is !!

Thanks for stopping by !!

Stephie

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