Wednesday, October 15, 2008

Not chortling, anymore....

The furnace has been something of a wake-up call for me.

Let's just say, I now fully understand what the husband means when he says, "We can't afford it, we have debt."

In the past, I read Mary Hunt. Last weekend, I read Dave Ramsey. They say essentially the same thing. It's so reassuring. I like Ramsey's plan over Mary's only because Ramsey wisely advises doing things one step at a time. Perhaps I mis-read Ms. Hunt, but when I tried her program in the past, I tried to implement everything at once--it was slow going and very fragile. Something came up, I forget what (probably a repair on an old truck we no longer own) and de-railed everything until we are at the point we are at today.

We are very lucky--the husband has always insisted we not use the credit card for anything except "emergencies." We can pay that off in full by the next statement date. The bugaboo, is, of course, our line of credit (wherein 100% of our debt--of all kinds) resides. It's a Home Equity loan --so it's actually piddly in comparison to the "value" of our home--but it isn't "piddly" with respect to my husband's annual income. If nothing else, this economic crises has wakened me to the precariousness of taking on debt someone else thinks you can afford.

Nu uh. Not anymore.
We get to decide--and so we're taking control.

Wish us luck.
(We've already had our first tiff.)


drwende said...

Good for you.

Christine in DC said...

Good luck...I know what you mean. Your perspective w/ debt becomes distorted. Iwas just listening to NPR today on the French and their different attitude w/ banking and debt. I knew a japanese man whose fellow Japanese friend insisted on paying cash for his home--quite routine in Japan, but hardly ever done in the US! Congrats on the warmth of the new furnace!!!

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