In April, as many of you may already know (for the newbies) my husband and I paid off the house mortgage and the car loans. By doing so, we cut our bills by $2,544.00. My husband's job has been on the line for quite sometime now and that inspired us to become "gazelle instead" (Dave Ramsey and sorry if you're not a fan)and pay $275K in about 36 months. Yes, we did it by putting every extra cent towards paying our debts and selling our rental home as well as using a good chunk of our savings. Well, last week our biggest fear came to a reality. My husband was not given a contract, therefore he will be officially unemployed on June 30th. He will apply for unemployment benefits as of July 1st. I write this, not for you to feel sorry for us, after all we will be okay with my income and cutting back on things. I share our situation so that maybe I'll inspire you to become debt-free. Had we've not paid off our debts, we would be in big trouble.
Loss of one income
May 29th, 2013 at 09:26 am