Post to keep myself accountable!

[Brz04]

DH and I have been going back and forth on when will be the right time for our family financially as well as emotionally to have our second and final LO. We really wanted to pay off our debts and have a decent amount saved so that I can stay home for a while after baby #2 is born (we couldn't afford to pay $170/week X 2 for childcare for both kids!) so we have finally devised a plan! We have consolidated our two credit card debts into one low interest loan through our bank which between monthly payments and DHs bonus in Oct should be paid off by spring/summer 2016. We will then save the same amount that we had been paying toward the loan and put into savings each month so that will give us a few thousand by the time he gets his next bonus oct 2016 (we will also put all that in savings). We hope to start trying to conceive in sept 2016 so that we would (lord willing!) have a summer 2017 baby. This way we will have our debts paid off and good amount in savings so that I can give notice at work mid pregnancy if I need to (if I'm severely sick again like last pregnancy) and if not I'll try to work as far into the pregnancy as I can so we can continue to save! Anyone have any advice or in a similar boat? I also have several other goals for this year before TTC...get life insurance policies for DH and I, have a will made up, organize the house a little more, etc.

 

[Kitteh_Kat]

Sounds like a great plan! Getting out of debt is such a huge relief. Our tax return is paying off our credit card this month, so I'm excited to finally have that cloud no longer over our heads! I've been organizing around the house too, and going through DD's old things to see what I want to keep for the next and donating the rest. It helps to stay busy!

Good luck

 

[MissMcCoy]

Yes,
Our credit had been so bad the past few years all we could get was high interest loans to set oup our place and buy a truck and stuff. Now our credit is looking awesome.
Our tractor just blew up so we needed to buy something to clear snow. We ended up getting a low interest loan that took our old loan or truck loan, Bought me a new car and covered a bobcat.
Now things are just constantly in our favor with the bank. We asked about our options with getting a new place and they said as long as we show savings and save that downpayment things should be good to go!
We never hear stuff like that!
So we are saving!
Weve got RRSPs set up and we both have savings accounts and investments.... Were gonna make ourselves look real good!
The old man and I are both looking forward to bonus's this spring so bam...right into our down payment savings.
Ive been looking at places and just dreaming. Found a nice place. 160 acres. lots of shops and barns. 3 bedrooms 2 baths....BUT it doesn't have a basement....BUT the property is soooo nice!.... another drawback is the kids would have to change schools, which kinda breaks my heart.
Who knows, maybe something even better will pop up by the time we are ready to buy. Just maybe it will be right in our area!!