The financial goal is still the same...paying off our home early. Now we are down to owing a little under $49,000.00 on our home, which is about a $6000.00 improvement over five years ago. That is the good news.
The not-so-good news is we went back in debt with 3 credit cards. Yes, after paying off 3 credit cards, we got back in debt with 3 credit cards. One was for things we needed...another lawn mower, a washer and dryer, etc. Another one was for getting rid of a 2nd one (replacing it) that had a very high interest rate, with a 0% interest rate card, which when it came due to be paid in full so it wouldn't go to a much higher rate with deferred interest added on, it was bailed out with the 3rd one, which was another 0% interest rate card. Instead of closing or leaving alone the 2nd card that was now cleared, I negotiated a low interest rate which was not 0, but was around 8%, and we used it all the way back up to the full $1000.00 it was good for (buying groceries, gas, eating out, etc.) while saving an emergency fund with what we would have spent money on the groceries, etc. Top this off with some good news...I found Money Aisle (a vehicle refinance online auction) and negotiated a refinance on both our vehicles at a much lower interest rate and lower payment on them to aid in getting some savings built up. As you can see...2 steps forward, 1 step backward...at least this is better than no steps forward...right?
Our goal, as I've stated is still to be mortgage-free. Hubby is nearing retirement age in just a few more years and if a person doesn't have a lot of savings at that time, I think making a good-sized mortgage payment out of Social Security can't be a lot of fun.
So it goes...we are still hopeful that within the next couple of years, Lord willing and with His Help, we can be debt-free with our home. We may still be making payments on our vehicles but they should be paid off within a few years, too (hopefully).
In the meantime, I'm still learning...still reading finance journals online...still doing research as I surf for new ideas or as I read about others' experiences in their quests to get debt-free. I'm praying and believing the Lord will help us to get out of debt.
Remember what the Bible says...(Romans 13:8) 'Owe no man anything but to love one another: for he that loveth another hath fulfilled the law. ' Also, (Proverbs 22:7) 'The rich rules over the poor, and the borrower is servant to the lender.'
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