Debt Update
If you have been following us for a while, you might be wondering, what happened with our debt. Our last update was March 2017. Well we have been super busy!
From April 2016 - March 2017, we were very busy. We worked two jobs a piece and busted our butts to pay off debt. We wanted to clear everything before we got to the monster student loans. We paid off the following (most of these were not apart of our first list):
Forgotten Medical Bill: $1,141
Surgery Bills Total: $1,618
IUI Medical Bill: $1730
Private Student Loan: $5,273.53
Car Loan: $11,818.01
The day we started dissing debt in 2015, we had about $1000 in savings and lived check to check. We earned and then we spent it. Sad for someone that works and was educated in finance right? In my defense college wasn't teaching personal finance. I took a personal finance class in undergrad and graduate studies, but they only spoke about credit card and auto debt. The textbook never touched on paying off mortgages and student loans. I guess the textbook companies didn't realize how much debt the average student was drowning in.
Did you know the average doctor and lawyer finish school with over $225,000 in student loans?
Did you know the average master degree costs around $70,000?
So we are tackling our last debt...the dreaded student loan. It is such a large amount that we have stared at it during maternity leave in awe. We couldn't figure out how to handle this debt being new parents. But we now have a plan. We plan on conquering this massive load over the next 4 years. We hope to pay it off sooner, but one baby step at a time...
From April 2016 - March 2017, we were very busy. We worked two jobs a piece and busted our butts to pay off debt. We wanted to clear everything before we got to the monster student loans. We paid off the following (most of these were not apart of our first list):
Forgotten Medical Bill: $1,141
Surgery Bills Total: $1,618
IUI Medical Bill: $1730
Private Student Loan: $5,273.53
Car Loan: $11,818.01
We've Dissed another $21,581 Worth of Debt in 11 months!!!
After we paid off our car in early 2017, life happened. We adopted a baby! Now that we are on the other side of all that work, I have noticed how much disposable income we had in the household. If someone would have told me to come up with $20,000 dollars by the end of the year, I would have just laughed.The day we started dissing debt in 2015, we had about $1000 in savings and lived check to check. We earned and then we spent it. Sad for someone that works and was educated in finance right? In my defense college wasn't teaching personal finance. I took a personal finance class in undergrad and graduate studies, but they only spoke about credit card and auto debt. The textbook never touched on paying off mortgages and student loans. I guess the textbook companies didn't realize how much debt the average student was drowning in.
Did you know the average doctor and lawyer finish school with over $225,000 in student loans?
Did you know the average master degree costs around $70,000?
So we are tackling our last debt...the dreaded student loan. It is such a large amount that we have stared at it during maternity leave in awe. We couldn't figure out how to handle this debt being new parents. But we now have a plan. We plan on conquering this massive load over the next 4 years. We hope to pay it off sooner, but one baby step at a time...
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