Previously, we were like two little islands in archipelago, connected on a deeper level but completely separate and independent on all surface level issues like finances. We split all our household bills and paid each other back and forth to keep things equitable. This method was great at keeping the peace between our completely different financial outlooks but it wasn't great for achieving anything financially related together and it was annoying to constantly be thinking about who owed who what.
Over the past year we created a combined budget, got a joint checking and savings account, and started looking at our debts together. There have been plenty of arguments along the way and we still haven't come up with a method that we are both satisfied with but we are making tons of progress in the financial communication department. Anyways, long story short, this blog has always been about my own personal journey to pay of my own personal debt but starting tomorrow I'm going to be adding S' debts to the tally plus our joint debts from the babies/ maternity leave and revising the "starting" point numbers. It's been a long time coming since I can't consider myself truly out of debt if my partner is still buried in it! So the following numbers will be my last report on the progress I made on my portion of our family debt load...
Student Loan: $35,230
Car Loan: $0
Credit Card 1: $0
Credit Card 2: $3,975
Credit Card 3: $0 (actual balance is $1,858 but we consider it "joint" debt from the maternity leave)
Here’s my starting point back in October 2011:
Student Loan: $38,339
Car Loan: $11,684
Credit Card 1: $10,577
Credit Card 2: $3,635
Credit Card 3: $0
Paid off to date: $25,630 paid off + $53 in savings