A small catchup

iVillage Member
Registered: 02-19-1998
A small catchup
2
Sat, 07-06-2013 - 3:12pm

After some very bad months in the spring due to the high prescription costs of the health insurance plan ($4000 deductible total) and delays in getting the tax return and bonus back we are back in solvency.  I also cashed in a low-performing 401K from a company I hadn't worked at in 13 years. The taxes are already prepaid.  I didn't want to do it but we needed it for the downpayment for the new car we bought in April after being down to 1 car for 6 months.  We got a 2013 Kia Rio - a nice little car and they gave us a very good deal with a good interest rate (1.9%) and the payment level we wanted. Unfortunately this brought us back higher in debt again but we only have 2 more car payments on the other car and about 4 more very small payments on the student loan.  Then I just have one more outstanding bill (other than credit cards) to pay off which is the dentist.

I also found out that I have a job for another 3 years - our contract got renewed and with the new contract I'm getting a big raise. So hopefully I'll be able to pay the car down faster like I was doing with the other car although the credit cards do come first.

All of this just in time so next year we will be getting loans for my daughter starting college.  Thankfully she is a very good student and she is planning on going to an in-state college so I'm hoping for lots of scholarship and financial aid.

Emily

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iVillage Member
Registered: 11-14-2008
Mon, 07-08-2013 - 7:52am

Congrats on the new contract. That takes some worry out of things now doesn't it!

So glad to hear you are tying up some loose ends with a few bills. Now isn't that just like life to throw in more after you are all done with that with your daughter going to school. Good luck with that. I hope she will work and can pay some too. You do have the credit cards to take care also.

Good luck. Come back and post often and let us know how you are doing.

iVillage Member
Registered: 07-24-2001
Sun, 07-07-2013 - 7:42pm

It sounds like you have a lot on your plate but are have a plan for everything.

Good for you.

As far as the upcoming expenses for your dd's college, all  I can say from experience is do your homework CAREFULLY.  This stuff can get out of control (and off track very, very quickly).

I'm looking forward to hearing more details as you go.