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A kink in our debt payoff . . . . .

Forum: Financial Planning and Budgeting


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June 21st, 2010, 02:50 PM
Lynsann's Avatar Platinum Supermommy
Join Date: Oct 2005
Posts: 8,867
So you all remember how excited I've been to have our debt completely paid off in August right? Well, we've had a bit of a change of plans. We have decided that DH will probably be taking a new job in the next couple of months and it involves a risk and possibly a loss of income for a couple of months, BUT it could end up really good. So, we've decided to delay the paying off of our last credit card. It's not a big delay though. I am still paying quite a bit each month. It will be paid off next June and we will be able to build our savings to get us through the next few months. I am feeling good about it. We have paid off more than half of our cc debt in the last 3 months so I'm really proud of us. We still have a set-in-stone plan for debt payoff success, we're just taking the last part a little slower. Basically, we're covering our rear-ends so we don't have to fall back into debt at some point.
Mommy to Ava (5/24/06) and Kai (5/11/09)
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June 21st, 2010, 09:56 PM
ashleighgurl's Avatar Loving Wife and Mommy
Join Date: Jan 2007
Location: Arizona - formally, Michigan
Posts: 12,794
I think that you are probably making a good decision. You don't want to fall back into using credit cards and getting into more debt. I think that as long as you and your DH are comfortable with it, that's great. And, good job with paying off as much debt as you already have!
Kyleigh - 7 years old
Our beautiful miracle baby..
Welcomed after 2 years of TTC.
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June 22nd, 2010, 09:50 AM
luvmygirls333's Avatar Super Mommy
Join Date: Jul 2009
Posts: 623
I agree. It sounds like a good plan. While it would be nice to have your debt paid off now, it's much smarter to delay it a bit and build a cushion so you don't have to use the CCs again!
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June 28th, 2010, 04:23 PM
mommy2Breana+Brandon's Avatar Platinum Supermommy
Join Date: Dec 2006
Location: PA
Posts: 39,401
I agree you are doing good in covering yourselves so you don't fall back into that situation.

That is awesome that you paid off so much already!!

Do you love food, entertaining, cooking?!?! Then you will LOVE Tastefully Simple. www.tastefullysimple.com/web/cpisch

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