Blogging Away Debt

Hope’s Debt Update – December, 2018

I felt so good about my significant debt payment after our No Spend Month but this total debt number is not going down fast enough! But I am fairly confident Collection #1 will be paid off before the end of 2018 – yeah!

Creditor	Balance (as of 10/14/17)	Interest	Min. Payment
Student Loans	$34,725	2.88%	$0 (income based deferment)
Car	$5,877	7.00%	$400
Credit Card	$3,557	17.00%	$60
Collections 3 (Ex-husband)	$1,003	6.25%	$246
Collections 2 (Apartment)	$499		$0
Total	$45,661		$706

I am working on my new monthly budget now and will publish it later this week.

Next Plan?

I’m also torn as I begin thinking of my next targeted debt; it’s between the credit card and Collection #2 in my mind. But I’m leaning towards Collection #2 since it is such a small amount comparatively and will be a nice ego boost to have all collection accounts cleared up. But the credit card interest is significantly higher. What would you do?

Student Loan Debt

In the same thought, I’m already steering away from Dave Ramsey’s path again, and thinking I need to start paying something every month towards my student loan debt. I know it’s in income based deferment for a few more months, but the interest jump was a couple of hundred dollars. I want to really start seeing that total number drop.

As you can probably hear, I am conflicted. But I’m also not rushing into a decision and weighing all sorts of scenarios. I figure I have until next month to really make a firm plan as I am definitely targeting Collection #1 and getting that gone.

That will free up $246 per month AND be a HUGE weight off my mind as it is the last, very last financial tie to my ex-husband. Now that has been a LONG TIME coming. And I couldn’t be more excited from that point view.

I’m all ears for your recommendations. But know I am committed like never before (and actually making enough money these days to follow through with my commitment!) Debt free here I come!!!

EMT, Firefighter – What will He Do Next?

by Hope

The week before Thanksgiving, Sea Cadet went out in the pouring rain to visit the local fire station. He came back that night excited about the possibility of becoming a volunteer fire fighter.

One week later, he was unanimously voted onto the force and when we returned from Texas, he was fitted for his uniform, given his pager and made official. He’s already been out on several calls this week, one of them at 3am!

There are some days I look at this child and pinch myself. I mean, I can’t take much of the credit for the amazing man he is turning into, but in some small ways I have contributed. And every day he just gets better.

A Short Version of Sea Cadet’s Background

If you have followed me for a while, this will be repeat information, but if not, I wanted to give you a brief history of where Sea Cadet came from.

Sea Cadet (and his identical twin brother, History Buff) were placed with me as foster kids when they were 12 years old. Sea Cadet, in particular, faced several challenges. He suffered from multiple delays and when he arrived at my home with his stuff in black trash bags was performing academically at a 3rd/4th grade level.

He was in speech to help people understand him better, had a dedicated education aid in all his classes with him, couldn’t write and so on. You get the point. In fact, at the first IEP meeting I attended for him, their goal for him was to be able to ride the public buses by himself.

At the end of his eighth grade year, social services gave me special permission to pull him out and homeschool him because there was a real fear that if he went to high school environment at the level he was at, we would lose him to some very negative influences.

And Now Today

He is just 9 months from completing his Advanced EMT certification, he is working part time (and waking himself up to get there on time consistently,) he has a car that he pays for and maintains, he pays his own insurance and cell phone bills and he has saved a nest egg emergency fund for his car maintenance and in anticipation of moving out next fall. And now, he is a volunteer firefighter!

And this is the kid that they set his highest goal as “riding the public bus by himself.” He is just a living example that with patience, the right path and continued flexibility to accommodate someone’s needs…things are not always what they seem.

I am one proud mama. This kid will graduate with no student loan debt. He’s currently acing all his tests. And he continues to take on more on his own initiative. There are just some days that I am overwhelmed with how blessed I have been to have the most amazing kids. And they continue to make me want to do better, make me want to do more, be more for them!