A few months ago I wrote the post Why We’re Not Debt Free, and I haven’t been able to update much since then because our four-month-old son has kept me very, very busy! As you can see, baby J. is adorable, but he’s VERY expensive (as I’m sure any parent knows)! He was born via emergency c-section in early June, and I had a ton of complications. Between high blood pressure, severe anemia, and other hospital expenses, we had many, many medical bills. I’m so grateful that we had our FSA account, because I was able to get reimbursed from that account for many of the expenses (like my son’s $462 circumcision which was NOT covered under health insurance).
Hubby and I also made a major decision this summer. Since this was our pregnancy in sixteen years of marriage (our son is adopted from Guatemala), and I had to recover from my c-section for several weeks, we decided that hubby would take off work most of the summer. This was a very difficult decision financially because we knew that this would definitely stall our debt repayments. However, we felt it was best for our family to enjoy this time and focus on both of our sons. While this was tough financially, and we had to dip into savings, it was one of the most rewarding times of my life. We also needed this time to get adjusted to a newborn!
We also have started looking at drastic measures on how to reduce our debt more quickly. We have been looking at downsizing to a home closer to my mother and grandmother. Since my grandmother is now 84 years old and my mom is in her late fifties, we would like to be somewhat closer to them to help with things in the future. My father-in-law actually helps them with their mowing now, but he just turned 71 today, so I know in ten years, they will definitely need our help more. My father-in-law also is a mastermind with cars, and now thinks our van’s transmission was not bad (as the mechanic had told us!). So, we may be taking ownership of that vehicle again which means we could sell our current car and get rid of our car payment.
The only problem with selling the car with the payment is that we owe more on it than what it is worth (especially since hubby backed it into a telephone pole last month at a local museum!). So, I’m praying that the Lord will show us what decisions we should make to help reduce our debt. I can accept it if He says to just wait and continue to make payments, however, I will have to pray for a good attitude while waiting, because I want to get rid of this debt!
Our struggles and our victories:
*Praising God that baby J. was born healthy!
*Thankful that hubby was able to work again with a client this fall and keep a school schedule. Plus, his new client’s hours are even better for helping me get out the door in the morning!
*Grateful that my father-in-law might be able to fix our old car.
*Pray for guidance for us as a family on where to take drastic measures to reduce our debt!
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