Tuesday, September 9, 2008

A Beginning

--> Well this is the first of many posts, I hope. I'm a mother of 2 and a wife. I'm using this as a way to track our spending and maybe get to vent a little. It's just getting tougher to make ends meet. I'm a stay at home mom and I do everything I can to save a little money. I've decided to be as honest and open as I can be. We owe still $109,000 on our house. We bought it almost 14 yrs ago for $125,000. Unfortunately, we made some stupid mistakes and refinanced a few times and rolled in credit card debt. But I hope that we won't do anything that dumb again. We don't have any credit card debt but we do owe about $19,000(I think) on our second mortgage. So you can see that we are worse off than when we started. The only hope that I hold on to is that the house is probably worth about$185,000- $190,000. And we have managed to save about $70,000 in Dennis's retirement fund and carry no credit card debt. And this house has not been very kind to us. When we bought it, we were pretty much taken for a ride. The owners told us that everything was top notch and we didn't get an inspection. I know the alarm bells are going off. We were young and very very very dumb. We had no idea what we were doing and were taken. We paid top dollar for the house, when most people were getting their houses for about $10,000 less. The only good thing about this is that we really can fix just about anything. But our mistakes are our own and I think that age and time has really helped put this into perspective.
I just hope to pay down some of our debt before our daughter goes to college in 2 years.
Thanks for reading,

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