We rolled the purchase of the mattress into the retirement loan...yes...we did. We could have taken the "extra" per month that this loan is freeing up ($200) and saved for the mattress for 6 months. And I would have lived for another 6 months listening to G-man complain about the lack of sleep, the pains in his back and hip, and his overall misery. Remember....I wasn't the one who wanted the mattress. A few of you said "sleep on the floor".....that is your choice....but in this house.....we did that for a year when our son needed us to....and it was miserable and screwed up both of our backs. No thanks.
The difference in the loan was $10 a month. Over 48 months....that is $480. That isn't interest...that is just the difference between doing the loan for $1000 less. So for $60 ($10x6 months), I get a happier husband, and hopefully a more productive husband. Sold.
I have talked about our many ING accounts that we use to save cash for expenses. Christmas, Camp, whatever we are saving for.....it has worked for us. We used cash for car repairs, pool repairs. We used cash to take our kids on a weekend trip. We used cash for summer camp. We used cash for a new computer when our died.
YET....each time I use cash for some of these expenses, I STILL have some of you come at me with pitchforks. The argument for cash goes out the window....I used cash....yet you don't like my choice of how to spend it.
I can't win. I save cash for something....I get slaughtered. I use another payment method....I get slaughtered. Which is it? You can't have your cake and eat it too.
I think it comes down to a few key points:
1) Some of you disagree with how we spend our money in general
2) Some of you subscribe to an "all or nothing" philosophy
and this last point will probably spark the controversy of the day....
3) Some of you are jealous.
Jealous? Not jealous of the amount of debt we have (because, really....who would be jealous of THAT!). No...jealous that we are trying to temper getting out of debt with having a life. And jealous of the retirement loan. Jealous that we have that as an option. Alot of people may disagree with the choice we made to take this money from our retirement account....but at least we HAD it there in the first place.
We could drain every last bit of available cash we have and put it toward debt. But that would cause so much anxiety that I would be sick. I need that cushion. I need to know I have it. Right or wrong....I need it.
We have a plan...the money that is freed up per month will first go towards the dentist, and then toward the student loans. If an expense comes up and we need to pull that $200 extra and redirect it...we have that option. Otherwise, it will just continue as part of the snowball.
If we have a windfall....I will tell you right now.....the majority will go to debt. MAJORITY. Not ALL. Maybe some of you will say....you aren't serious about this....ok, that's your opinion. But I am NOT going to go back to the days where I sat in the dark and read by flashlight so I wouldn't use electricity.
At some point....probably BEFORE we are completely debt free....we will buy some new living room furniture. We will do some home improvement projects. And we will have a life.
Cheer me on........don't........your call. When I CHOOSE to spend money shopping instead of paying a bill...then you have my permission to slap me silly. But we make our bills (and I guarantee....alot of them are WAY more than what most of you have), we aren't late....our kids are fed and clothed. But we will have a life.
I am not letting our debt define our life.