That’s what you are wondering, isn’t it? Except it probably sounds more like this in your head: “HOW DID YOU GET $302,295.00 IN DEBT????” 🙂 Here’s the breakdown (and remember this doesn’t include a BUNCH of debt we’ve paid in the last 10 years of marriage)…therefore it could be worse. 🙂
I will list them smallest to largest:
- $400: Orthodontist (Originally $600, for a spacer for Evelyn’s cross-bite and the treatment for it)
- $1390: Clinic Bill (for regular visits etc. We had paid it off last year with a tax refund but had $1000 deductibles each…and unfortunately we were back at square one.)
- $1475: Hospital Bill (because the hospital in OUR town…the one we work/shop in…was out of network for Shawn’s insurance. And YES I am still VERY annoyed with this.)
- $2970: Loan for Van (which we needed when we got pregnant with SURPRISE! triplets)
- $3925: Line of Credit/Credit Card (which we took out forever ago, during the time when we weren’t making as much but ignoring that to buy what we “needed”. You know things like movies, restaurants etc. Also known as “dumb debt.” I will talk about this dumb debt later.)
- $10,939.00: Second Credit Card (see above “dumb debt”).
Here’s the kicker’s:
- $123,601.00 Tawnda’s Student Loans (original amount $115,000.00…this is what happens when you can’t afford to pay your student loans back and interest accrues…another post for another day).
- $157,563.00 Shawn’s Student Loans (original amount $130,000.00).
There you go, that’s all of it. How long will it take us to pay it all off? That depends on how we do it. We are doing a debt snowball, which I will also explain another day. Doing so means that it will all paid of it “only” 19 years and 8 months. GULP!