Update

Community Leader
Registered: 07-26-1999
Update
6
Mon, 08-26-2013 - 10:35am

I thought I would post an update.  Its been quite a while since I was active on the board, I've lurked and commented once in a while, but I am back and recommitted to things.  DH and I have made some very good strides on communication and being on the same page and I think we are finally at a really good point.  For those new on the board, I'm Tracy, I've been around for many years.  DH and I have been married 8 1/2 years now, I have an 18 year old daughter going off to college, he has a 14 year old son who lives in Michigan and we have  6 year old and 4 year old girls.  I came into the marriage just having filed BK and working on getting things back together.  He came into the marriage with a decent amount of debt in collections, a large child support arrearage, hadn't filed his tax returns in 4 years and had just entered the army at 24 years old, so making next to nothing. 

Four years ago he got fired from a job and decided to open up his own company.  Its been up and down since then, no stable income from him, but we both learned a lot during that time.  He decided in April after some legal issues, that it was time to go back to work for someone else and put the current company on hold.  Since then we have had many discussions, formulated some good goals and are full speed ahead.  We accumulated a bit of debt form the business and are paying some of that off.  We had a $1500 IRS bill for 2012 taxes that we had been making payments on, but I wrote the final check on Friday and mailed it, so that is gone.  We now just have the bit of business debt left, 1 credit card each, my student loans and our mortage.  We are working hard to get rid of those, along with putting money away each month for a newer vehicle for me next spring.  We currently don't have any car payments and want to keep it that way.  And we just got our $1000 EF back fully funded again.    

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iVillage Member
Registered: 10-01-2009
In reply to: arryl
Tue, 08-27-2013 - 9:35pm
thank you for the update tracy.....so nice to hear from you Duke
Community Leader
Registered: 08-25-2006
In reply to: arryl
Tue, 08-27-2013 - 2:27pm

Good to see you.  :) 

Serenity
iVillage Member
Registered: 04-08-2008
In reply to: arryl
Mon, 08-26-2013 - 11:52pm
Yes, daycare is outrageous. It makes it almost not worth it to work. We save big time by having a retiree come to home for a few hours...but she is never "booked" and the kids run wild all day! Glad to hear you are back on track and ready to nip that debt in the butt. Welcome back :) Dee
Community Leader
Registered: 07-26-1999
In reply to: arryl
Mon, 08-26-2013 - 3:02pm
Karen, we learned a ton about the business and do's and don't's. One biggy we learned was I can't work another full time job and do the front office work at the same time for his business, I have to stick with one of the other given all the demands of the children. One positive thing from the business is he and I have definitely developed much better communication skills and give in take in our personal relationship. We still have plans to eventually move back to Michigan and open up the business up there, but its just been put on hold for now until we meet some financial goals. And yes, we are so excited about the daycare bills!! I hate that I am wishing away the youngest one's childhood, but when you pay so much in daycare, its hard not to!! We went from $1400/month in daycare 2 years ago, to $1100/month last year and this year, to $580/month next year, that is a huge deal when it comes to reaching financial goals!! I am not 100% certain, but we are really pushing to be consumer debt free and only have the mortgage and a small portion of the student loan debt by next May, I just need to continue to go over my spreadsheets a bit more.
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iVillage Member
Registered: 11-14-2008
In reply to: arryl
Mon, 08-26-2013 - 1:38pm

Hi Tracy!!

It sounds like you guys are going to go full speed ahead. Not everyone is meant to work for themselves. I wish others would not see it as such a negative thing. It isn't always more often than not. 

Being on the same page is so so so helpful right?! You two have come a long way! I'm proud of both of you! I am in the process right now of getting past my previous relationship and easing up in this one. Hubby feels a bit resentful I think when I comment on purchases now. We are in such a better position now I need to let go a little, but it is hard when I went from no control, to complete control and now trying to find a balance?? So hard. 

4 and 6??! You will have both in full time school in no time and then you guys will be flying with out the full time day care bills. Very exciting! My little girl is 13 months old now. Time is going by way to fast!

So good to hear from you. I am trying to post on Monday mornings in the accountability thread at the bottom if interested. 

Karen

iVillage Member
Registered: 10-09-1999
In reply to: arryl
Mon, 08-26-2013 - 12:55pm
Glad to have you posting again. Sounds like you are on the right track & have your baby emergency fund in place! Good luck to you & keep posting. We need to keep this wonderful supportive board alive! cindylee