Money Matters
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Working to be debt free!!!

I am stoked! Just got a job where I will be making an additional 12,000 a year. That's enough to pay off my student loans and DH's truck in less than 2 years. After that we will only have to worry about a mortgage when we are ready to buy a house in the next few years once we have our down payment saved. :) 
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Re: Working to be debt free!!!

  • Congrats, just remember to be dedicated to paying off your debt.
  • Great! Also remember to get your e-fund in place so as you pay off debt you don't have to get more debt if an emergency occurs.

    6 months living expenses is a good start for a savings emergency fund.

    I would make this a priority as you stay current on your debt bills, then as this goal is accomplished, focus all your attention on the debts.

     

     

  • Thanks! The efund is currently a work in progress and so is saving for a house down payment. We are essentially acting like the increase in funds don't exist when it comes to living expenses so we will be able to split the extra funds between the savings accounts and the payments.
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  • That is awesome news!!! Congrats on the extra money. If you are nervous at all about having the money disappear on you, have the money set up as a direct withdrawal to a separate account or to the loans each month. Acting like the increase in funds doesn't exist is a very smart way to deal with this!
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  • Woohoo! Congrats!
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