It has only been nine months since I started this blog. That doesn't seem like such a long time, but at the same time, it feels like a lifetime.
Nine months ago, my husband and I decided it was truly time to buckle down and get serious about paying off our debts. I don't know the exact amount that we have paid off, but it is somewhere in the $60,000 range. Divide that out over nine months and we have managed to pay off an average of $6600 a month. (Granted, selling our home did contribute to the major part of this.)
This is incredible. I never dreamed we would be at this point in our lives in such a short amount of time. The snowball effect truly does work!
Now, we are considering buying another home to move into, praying over job paths, and will be continuing our education in the fall (which will not require taking out student loans!). And we can start paying on our existing student loans next month if we so choose!
As I think about all this, I realize how blessed we are. I know that not everyone can make this kind of effort and see the fruits of it so quickly. It was hard. It took skill and restraint. It took failure. It took faith.
We are proof that God does not desire us to be burdened by debt. We know that He has us on this path for a reason and through all this, He will be glorified. I know that we absolutely could not have done this without His guidance and provision.
We still have a long way to go, but becoming debt free doesn't seem like such a pipe dream anymore. It's 100% attainable and is something that I would encourage others to do!
--chloe.
Wednesday, March 29, 2017
Monday, March 27, 2017
Good-bye Mortgage.
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Debts to Pay
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March
27, 2017
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|
|
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|
|
|
|
|
|
|
|
|
|
|
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Student Loan D
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2,889.44
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Student Loan B
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2,912.81
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Student Loan F
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2,998.40
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Student Loan A
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3,517.61
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Student Loan C
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4,495.04
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Student Loan PX
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7,925.70
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Student Loan G
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8,368.81
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Student Loan E
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8,320.70
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Car Loan
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11,638.98
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Total
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53,067.49
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*Current chart shows adjustments for interest, pay downs, and pay offs.*
You guys. I am so excited to share that we FINALLY sold our house! We listed it for sale back in October, and closed on March 10! Not only did this knock out our mortgage, but we were also able to pay off our credit card! This is huge! That’s almost half of our debt! Now all we have left are student loans, and our car loan!
By selling our house, we also brought in enough for a down payment on our next home. We aren’t sure when we will be buying again, so for now, we saved back all buy $2,000 of our net so that we can have that money waiting for us when we are ready to buy or build a new home.
I’m stuck in this weird place where I want to just jump up and get another house but also I want to just enjoy not having a mortgage. Currently, we live in a parsonage, free of charge or bills, and that is a huge blessing. However, we do know that eventually we will move on and most likely will need to look at getting another house. It’s really a waiting game right now.
I’m so thankful that God brought a buyer for our home. We know that He has laid it on our hearts as a couple to become debt free. I am grateful for all the He has provided for our family over the last few years. We have always been able to pay our bills on time, so we know that we will be ok regardless. I’m ready to start working on paying off our student loans now!
--chloe.
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