So D cashed out his IRA, it wasn't a lot of money (approx. $1800) but we got to use it towards debt! The reason we decided to do this was the day I told him we had gotten his collections debt down a significant amount! Well, low and behold, we come home to another collections account for around the same amount... that was a hard blow and I felt a little defeated. So we decided to go ahead and cash it out (since it was through our banker, it was a quick transfer and we will pay the taxes on it come tax return season in 2015). We sent the bulk amount to the new collections account, so we wouldn't have to worry about setting up a payment plan with them, then we sent the rest to that initial collection account and we are going to be able to pay that totally off next month!!
It's good to know that we are a step closer to being debt free, but once a pay increase comes around (or when our debt is payed off), we will definitely be contributing more into our retirement plans to help recover that money.
In the mean time I still totally have house fever, and it is driving me crazy. I just need to reset our goals and make sure that we have those set in our mind whenever we make any purchase!
Sunday, July 27, 2014
Saturday, July 5, 2014
Attorney's
We are starting to see the light at the end of the tunnel with our legal situation. And it looks like, for now, out costs will not be as high as we had thought. Due to this we will be shoveling all our excess into our first, most important debt. The collections account D has. With this being paid off he can finally start to see his credit actually bounce back! Though I continue to think, when will all of these puzzle pieces fit together for us to have our perfect financial peace? A couple things I have to remind myself:
1. I am 23 (turning 24 this month), fresh out of college... Things take time. There is no possible way I am going to take the elevator up the corporate ladder at my company, it's just not feasible. Work hard at what you do and that will show to others and help to further your position!
2. Don't compare yourself to your parents! They are about 30 years older than you! They have been in the workforce for that much longer (see above as to how hard they worked and how long it's taken them to get there).
3. Don't compare yourself to your friends. They may not have debt, they may have a home, they may have the beautiful children you hope for in the future. But each of these friends does not have the same financial situation you have. Focus on your successes and the steps you need to make to better yourself.
Now to plan for this wedding! We have planned on September 2015, and have started collecting glass jars and containers to decorate with! Thank goodness I'm crafty!
1. I am 23 (turning 24 this month), fresh out of college... Things take time. There is no possible way I am going to take the elevator up the corporate ladder at my company, it's just not feasible. Work hard at what you do and that will show to others and help to further your position!
2. Don't compare yourself to your parents! They are about 30 years older than you! They have been in the workforce for that much longer (see above as to how hard they worked and how long it's taken them to get there).
3. Don't compare yourself to your friends. They may not have debt, they may have a home, they may have the beautiful children you hope for in the future. But each of these friends does not have the same financial situation you have. Focus on your successes and the steps you need to make to better yourself.
Now to plan for this wedding! We have planned on September 2015, and have started collecting glass jars and containers to decorate with! Thank goodness I'm crafty!
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