After I updated my financial status earlier this week, I took another look at the numbers. I thought they may seem off to those who read my blog regularly. On average, we send about $3K +/- per month to our creditors, so why would it take 5 months for us to pay down the seemingly small amount of debt we currently have?
Well, there are a few reasons and none of these are included in the status update numbers -
1) Taxes. We believe we owe $6K in taxes this year.
2) We booked our celebration trip and wanted to pay for it in full when the bill came in, so that pushed things out a little bit.
3) My hubby has some back child support due that I haven't been sharing on my blog.
Actually, I've never shared that my husband has a child from his previous marriage. That's right, I'm a step-mom :) Unfortunately my hubby fell behind on his payments when he wasn't working full time and has been trying to catch up. Now that we are married and I consider this debt one of our joint obligations, I've put this on our list of items to pay off quickly. I'd rather not get into exact figures here, but it's included in the overall bunch of bills that will be PAID IN FULL by the end of July. Now that my hubby is working full time, this shouldn't be an issue again in the future.
There, that's everything.
There is always something which gets in the way of even the most organised plans, the main thing is it will be finished by July yippee......
ReplyDeleteThat is so true :) Good to see you back! I'll have to head over to see what you've been up to.
DeleteGood on you for considering the back support payments a "joint debt". When I think of where you were a year ago you have made phenomenal progress. Moving to a smaller space made a huge impact. You are almost there!!
ReplyDeleteThanks Jane! You are right about the smaller place, it did make a huge impact. I appreciate your support :)
DeleteDoesn't matter why July. July it is and that is all that is important. Even if not included as a separate item, you have been honest enough to add it to your overall numbers and that is what is important.
ReplyDeleteJuly it is. Will be an awesome month for you.