This is going to be a looooooong term goal for us

We’ve been talking more and more about it lately so it’s obviously something we are both keen to work towards. We already have debt coming out our ears so we must first get these out of the way.

Plan of attack

1. Pay off credit card bill (currently sitting at just under $5000!!!)
2. Pay off hubby’s car loan
3. Pay off our personal loan
4. SAVE, SAVE, SAVE!!

I haven’t put save at any earlier stage as everything I’ve read has said to pay off debt before starting to save (apart from putting aside a $1000 emergency fund).

Each time we finish paying one thing off the extra $ we have will be put towards paying off the next item on the list. We are starting with the lowest balance first, then working up to the BIG ONE. Apparently this is called the debt snowball method, it just so happens that the credit card is the highest interest anyway and I will feel much better once I get this waaaay down and then gone altogether of course.

There are no penalties on any of the loans for paying them off early so that’s a bonus.

One of the ways of achieving this debt reduction is looking at me going back to work before my year’s maternity leave is up in May. There are a few things I need to organise before this happens though and that includes childcare options (!). I want to at all costs keep from having to send DS to a daycare, I just don’t like the thought of them no matter what good experiences other people have had/are having. I’ll post more on the options for childcare we are looking at once I have some more information

So, please feel free to share your home buying tips and experiences and ways to cut costs around the home.

Meanwhile I’m off to check out some frugal living blogs.

Take care xx