Not Debt Free By December

My husband and I made it a goal at the beginning of 2016 to have all of our debt (excluding our mortgage) paid off by 2017.

Although we made HUGE progress by paying off all of my student loans, it looks like we will be coming up a bit short. This year has been full of unexpected expenses, but thankfully we have been able to pay cash for most of the things that needed to be done because of the way we had been handling our finances. Unfortunately that meant that sometimes we couldn’t be as aggressive with student loans as we wanted to be.

I am not discouraged though. At least not anymore. When we were in the midst of expense after expense, it seemed like there would never be an end – like we would never get ourselves out of the financial hole that we had dug, but we can finally see the light! Our new goal is to have the rest of my husband’s student loans paid off by the end of March, and so far it looks like that is going to be completely possible!

When we first decided to get aggressive with paying off debt, we had to rearrange our budget quite a bit and cut out things that weren’t necessary. We cut out our vacation budget and our “fun money,” so we haven’t done many things that cost much this year. When we made those cuts, Jamin agreed to do it on one condition – once our loans were paid off, we would double the fun and vacation budgets.

That’s still the plan, so as we get close rand closer to meeting our financial goal of being out of debt, I am excited to be freed from that burden, but I am also excited for all of the opportunities we will have to go places and make memories together.

 

 

We have been using Dave Ramsey’s Financial Peace to take control of our finances. I highly encourage anyone and everyone to look into to gain control of your finances, so they don’t control you.

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