Putting off big plans to pay down debt?
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Putting off big plans to pay down debt?
| Fri, 01-20-2006 - 9:44am |
I thought this would be a good question for this board:
What big plans, if any, are you putting off right now in order to pay off debt? Do you expect the circumstances to change in the next couple of months, or is it more of a long term thing??
Looking forward to what others have to say on this!!
Heather

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We are putting off:
1.) I have one year left of school for my degree. It's more important to DH that he gets his degree though, so he gets to go first.
2.) I want a house. We may never be able to buy a house, but a townhouse would be affordable if we didn't have debt.
3.) I want to start a family. The baby part.
We are 24 months away from being debt free. Once we hit that point, we will probably try for a townhouse. I will be 29, which (around here) is a normal age for a first child. We hope to adopt a second child. Ooh, and we want a pet of some form. We've decided to let ourselves have fish this summer.
Heather, good question!
We, also, wouldn't be in this situation if we had put more things off... lol
We have been trying to have our first child together for over 2 years now (I have a 5 year old son from previous marriage), and since we assumed it would be easy to get pregnant, we jumped into a 3-bedroom apartment and began a nursery. So.... here we sit, with a spare bedroom that is beautifully furnished.... and no baby. :( That has been a huge waste of money so far, but hopefully it will be useful soon!!
We have HAD to hold off on a house because DH's credit is awful! That is our number one priority, work on credit and GET A HOUSE!
~Aravis~
Good question!
For the moment, I am putting off the following:
1 - Installing new wood flooring in my condo and I'd also like to redo some of the decor
2 - Any major trips until the non-mortgage debt is paid off (this excludes long week-end trips that I may take to keep my sanity in check!)
I need to have some savings also built up in the event the condo needs major repairs and for emergencies.
Kassandra
Kassandra
"It is said that life has its peaks and valleys. The challenge is to accept them equally and experience them
We have several big plans on hold.
1. Retirement/education savings. We have contributed regualarly to a retirement plan until my husband lost his job. We have finally got our heads above water and need to start doing this again. We also have minimal eduation saving for the kids. This is a little better, because I moved to a job that has a pension, something I have never had before.
2. Vacations. We have never been on a "real" vacation. We travel locally, and visit point of interest, but we have never gone anyplace that required taking a plane. I would love to go somewhere and sit on a beach for a week and drink things with umbrellas in them, but refuse to put this on credit. We also would like to take our kids to Disney, hasn't happened for same reason.
3. Master degree. Have 2/3 done, need to finish remainder in next 6 years or I will lose all my credits.
4. Pool/home improvements. I want a pool. I really, really want a pool, and in the next couple of year while the kids are young enough to enjoy it. Same argument, don't need it, just want it and it is not a nessecity. ?? Maybe will be able to make room in budget next year after van is paid off. Otherwise, no pool for me......
5. Lot of little things.... Husband wants projection TV. I want new computer and new digital camera. I want new red rain coat. All this stuff adds up.....figure that it will cost 3-4K, and we have attempted to pay down debt instead.
Very depressing this topic.... Makes me feel like I may never get what I want. UGH!!
Well I thought I knew the answer to this until I read all of your's, and said "me too!" to most of your replies!
For years we struggled for one reason or another, and when we had our 10 year anniversary, I said we buy a house within a year "or else". We did buy the house.
Now I'm saying a baby THIS year. That is, applying to an agency and actively getting the ball rolling. I've been researching it forever, and we've been talking about it for about 3 years. Everytime H says he wants a boat (what world does he live in??), a big screen, a sharp car, ect ect; I say "as soon as we get that brown baby".
(BTW, "or else" isn't my tactic; these are the only examples!)
We've got remodelling to do...in fact, a few half done projects that were started before our big catastrophe.
We NEED a second car, BUT, H will start getting military disability this summer and our lawyer and CPA should be paid off by then, so we can realistically say we'll have one when school starts next year...that sounds soooo far away (and it's been so long), but we KNOW it's temporary, and we can see a resolution, so I think we'll make it!
And that vacation we've never gone on?? H won tickets to anywhere in the US at work... we'll have to pay for accomodations and such, but now we HAVE to take a vacation this year, and we decided we're not visiting anyone, and not taking the kids!! It's strictly for us!!
:0)
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