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Assessing Where I am

November 5th, 2006 at 02:06 am

I went back to school much earlier this year, after leaving my job. Living on one income has been a little scarey. I have been so used to having lots of extra money and no debts (other than the mortgage). So, to have lost half of our income and acquiring new debt is a new experience.

I thought I would be okay with the debt, as I know we'll be able to pay it off quickly after I finish school and start working again (2 more years). I have decided to rethink our plan, by decreasing the amount of new debt we take on, and starting to pay off my school loans much earlier if possible.

I'm going to try to get an idea of where we really are financially right now, and work month by month to hopefully have no more debt (except the mortgage) by the time I get out of school.

-J

7 Responses to “Assessing Where I am”

  1. LuxLiving Says:

    Welcome J!

  2. janh Says:

    That's an awesome goal.

  3. PRICEPLUS Says:

    Welcome J! It is always a good thing to reassess where you stand financially! Good Luck we are pulling for you!Smile

  4. tinapbeana Says:

    nice to have you here, J! and kudos on trying to tackle debt while only on 1 income. imagine if you can get comfortable living on just the one salary, so that when you start working everything you make can get stashed....

  5. Ima saver Says:

    Hi j, glad you are here.

  6. genmed Says:

    Thanks for the encouraging words Smile and welcome from everyone. I hope we all make our goals - financial and otherwise.

  7. Broken Arrow Says:

    Ah, I wish I was smart enough to minimize my loans and start paying as soon as possible. Big Grin

    Unfortunately, I wasn't, but at least I learned now instead of later.

    Anyways, good luck!

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