Part of why I'm writing you these letters is to illustrate how the decisions your dad and I have made have put us in the situation we're currently in (slaves to debt) and how we get back to zero (it's hard). I want to make us the example of what not to do.
We live a good life. You guys have everything you need (but not everything you want). We go on vacations, we have fun. We live a typical, middle class American lifestyle.
But I want more than that for us and for you guys. I want us to be able to go on a trip on a whim knowing we already have the money saved for it. I want to know that we can take a month long road trip and not have to worry about the vacation day calculator at work. I want to be able to spend all the time you'll let me with you guys, and not have to worry about a paycheck.
So below is where we are today. Every month I'll post our progress so you can see our progress (or lack thereof). And you'll see how the decisions we make have impacted our life, and how the decisions we're making going forward help to change things.
Love you,
Mama
***********************************************************************
I'm not counting our mortgage balances in this list, as we haven't decided how we'll tackle those yet. But here's all the bad debt that we carry month to month. The total is $155,888.27.
Amount
|
Payoff
|
%
|
Min. Pmt
|
Notes
| |
Car Loan
|
$16,797.71
|
3 year - 12/2020
|
2.24%
|
$ 541
| |
401k
|
$33,439.35
|
20 year - 5/2032
|
3.25%
|
$ 227
|
Must pay off in full
|
T Alaska Visa
|
$18,635.39
|
10/2018
|
0.0%
|
$ 210
|
0% until 10/2018
|
HELOC
|
$74,615.82
|
10 year 2027
|
3.99%
|
$ 357
| |
Al Alaska visa
|
$12,400
|
5/2019
|
3.99%
|
??
|
No comments:
Post a Comment