Monday, May 26, 2014

It's Time for an Update...

Hi again! Why does it seem like time goes so fast as you get older? It seems like just
yesterday that I posted "Happy 2014." That was two months ago, in March. I was so excited to get on here to share my news. Then I blinked and two months went by. Crazy!

Anyway, it's been an interesting ride since I last updated you guys. Here's what we've been up to - 

  • May 2013 - My hubby went back to school to finish his bachelor's degree! It's an online program that takes up most of his free time, but by this time next year, I know we'll think it was all worth it.
  • September 2013 - We added a new member to our family and rescued our first dog, Daisy! She's a beautiful black and white cockapoo. She is a very social dog with an old soul and a mean jealous streak. She loves to stare into our eyes until we acknowledge her presence and then she wants nothing to do with us. She's a lazy dog at heart and would lay for hours if she wasn't constantly interrupted (see below).
  • December 2013 - We adopted a companion for Daisy, our second dog, Rosie. (Can you tell I love flowers?) She's a pretty cream colored maltipoo. She has an endless amount of energy, is obsessed with chasing her ball, and is extremely protective of her family. At the end of a long day of ball chasing and barking at strangers, she knows just how to come up and sit on your lap for cuddle time. 
  • December 2013 - We put an offer in on our first home! It was a beautiful single family home with a large backyard for the dogs to run around until they collapse of exhaustion. It seemed like it would fit our needs and give us plenty of space.
  • January 2014 - We rescinded our offer on that home after the inspection scared us off. Turns out it was a good decision. Although the house seemed great and was priced right, we were a bit concerned about committing to an hour commute each way for both of us.
  • February 2014 - We found a great condo which was close to both of our jobs and put an offer in on it. It was quickly accepted! We needed to put all of our savings into it as the down payment (5%).
  • March 2014 - We closed on our condo and moved in. Ahhhh, homeowners, finally! 
  • May 2014 - I wake up and realize we've gotten ourselves back in the same mess were were in in 2010 when things first started. I finally sit down and write down our status so the recovery can begin. 

I try to always be the kind of gal that sees the glass half full. I'm pretty optimistic most of the time. But I must be an idiot to have gotten us back in this mess again. I'll be honest, it's hard to see the glass as half full right now. We took a major step backwards instead of forward. The only thing that's helping me stay positive is knowing that we now have the skills we need to fix this. The last time we were here, we didn't know where to start. 

I know some of you are curious about how we could end up here again. It's a combination of the cost of schooling, a trip back East to see family, and a bunch of other stupid decisions! At the end of the day it doesn't really matter "how" I guess, just that we're here.

Here's a breakdown of our current numbers. I included our investments, even though we're not fully vested yet in the 401k balances. 

Original Debt $60,555.72

Original Debt Paid Off $49,748.55

Current Debt as of 4/19/14 = $54,096

CC # 1 : $13,875 (Average 15% Interest Rate)
CC # 2 : $19,978 (4.99% Interest Rate)
CC # 3 : $1,020 (0% Interest Rate until 3/2015)

Car # 1 : $5,792
Car # 2 : $13,431

Investments = $33,919 (Not fully vested yet)
401K #1 : $6,000
401K #2 : $22,205
401K #3 : $5,073

Lending Club : $641

So, that's our update. I know some of you may have some choice words for us and our current situation. I'm fully expecting to hear them. This is the first step to our recovery and I'm happy to be taking it. 


  1. Not much to say - what's done is done, right? I guess I'm most surprised that you bought a condo. I hope you're not in over your head, though I suspect you are since you only put 5% down. I'm not going to beat you up over your debt - I have more than you do :) But I do hope you are ready to change your thinking. I've paid off $56,000 since 2011 - it can be done. But it takes a total change of attitude and a willingness to stop and think before jumping into a want (i.e. 2 dogs are expensive!! I'm a dog lover, so I understand the desire to adopt, but in your case probably not the wisest move). Good luck.

    1. Wow, you've done great! $56K is a ton. Way to go! I've got to get back on your blog to check out your progress. It will help motivate me in my journey. Thanks for commenting.

  2. I agree, what's done is done. I'm more interested to hear how you're paying it down and what kinds of frugal plans/goals you have to make it happen! Hopefully your condo mortgage is manageable and isn't making getting out of debt more difficult! You can do it, only thing to do is to look forward.

    1. Thanks! We're figuring out the plan now so it's a realistic one we can really stick to. I'll post more details once we've finalized it. Thanks for visiting :)

  3. AT least you know you now have the skills to get out of debt! I can't stand people who get all on their high horse thinking they know exactly how to manage money and it's so easy, blah blah blah.You're going to do great!

    1. Ha, ha, ha! I hear you. Thanks for your comment. It's not easy, it's a journey, but we're taking steps in the right direction. One day at a time :)