Climbing Out One Family’s Adventure in Becoming Debt-free

A word I’ve heard a lot this week is “traction”. Man, do I want some!  I had hoped the yard sale would provide it, but it proved to be more mentally important than a financial salvation.

Our first goal is to save $1,000 for a baby emergency fund ($516 saved). Next is to pay off the $47k credit card debt.

Let me tell you: from this side of the field that looks like a long frickin road to me.

This evening I had the kids pick up their play area.  One could not walk from one side to the other for all the scattered Barbies, drawings, markers and costumes.  Getting them to pick the first 5 things up and put them away was torture.  Then something happened.

Somehow seeing the new bare spots on the floor (and copious praise from the Dad) got those two moving and before you knew it almost everything was finding its way home.

They had found traction.

It is early in this process, but I am dying to see some financial traction in our lives.  A bill or two completely paid off.  Half the 800 number calls during dinner.  Something that shows results.

What about the car?  Both of our cars are paid off.  Mine would fetch about $8,000.  We could buy a beater for $1,000 and knock out a couple of credit cards with the rest!  The Wife is actually entertaining the idea of selling the Waterford china.

Whoa.

Would a thousand-dollar car cost us $1,600 in repairs in a month, though?  I commute 70 miles each way to work…  I’m not sure what the answer is.  I do know I want to feel this ship lurch free of the quagmire and start to move.

In Budget 1.5 I said that outflow is still more than income.  For the first time The Wife and I are clearly looking at all the holes in the bucket together and assessing it instead of me frantically reaching around and plugging them temporarily hoping no one will notice.

Having a plan on paper feels good, but I have moments that feel like we’re only moving backward right now.

the Dad