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What made you decide to get on a budget and get debt paid off? When we were thinking about having our second kid, we realized we needed to get things under control so that I didn't have to work. I used to bring my oldest with me to watch 2 kids at their house. I didn't want to spend 1.5-2 hours a day commuting anymore. Plus we knew we wanted to be able to do more for our kids than our parents were able to for us.
Was it necessity? To us, yes
We paid off enough debt while I was pregnant for me to not have to work. We still had a car loan, but life was doable on 1 salary. Once we took our house off the market, when our son was ~6 months old, I decided to watch kids here, for extra money and we were able to pay off the car loan in 3 years total. Knowing I don't have to do it, makes a big difference in how I feel about doing it. Now our extra money goes to SAVINGS!
I made some stupid mistakes as a young college age child. And I spent most of my adult life trying really hard to pay it off. I hated being in debt. I hated making payments for things I bought years ago. I hated feeling like I was never getting anywhere. I had dreams. I wanted a house, I wanted to be able to get a decent car. I wanted to not live paycheck to paycheck at some point in my life.
To me it was a necessity to get it paid off so my life could go on.
We looked at how much was going out to debt and decided we would rather have that money in our pockets . So we are working to pay everything off so when I retire I don't have to work. If I want to I can but don't have to. We have about 6 years to pay it all off. We hope to be done before that though. We would like to have the extra in our pockets sooner rather than later.
We were dumb with CCs for a long time. We just put everything on the CC and we were living waaaay above our means. We wanted to buy a house and get out of the city we are living in, since the schools are pretty bad. We figured we'd better do something about the debt.
So 1.5 yrs ago, I started babysitting in our house (I have been a SAHM for 7.5 yrs) and I also made a monthly budget. In 1.5 yrs we went from 32K in CC debt to 5K. Hopefully that will be paid off by the end of the year. Next summer we will be moving!!