New Member

Debt management

My Family debt freedom journey started Jan 2016. 116k in debt and a 1 year old . Student loans, credit cards, personal loans from past attempts. As of today, no new debt gained outside the cost of home births, and one major medical event. We are great at not taking on new debt. Even paid off one of two cars. Our struggle is not sticking to a budget but finding numbers for our now family of 3 kids and 2 adults that are practical to our situation. I mentioned a paid off car. We wanted 33% of that now gone car payment for a class and the rest for our debt plan. We are a single income family and I make 95k per year and have always gone up about 3% a year. We stopped the 401k. The value of our home in 2016 was 140k. Today with no actions of our own it's now at 216k on Zillow. I still owe 102k on my home and 50k to student loans a personal loan and one car. Change nothing and surly will be debt free in 2020. Get serious and I bet we could pay off our debt in 1 year leaving mortgage as the only debt. Could also try and sell our home now (houses in my hood last 1-2 months when up for sale) and have no debt and I'm guessing about 10k in the bank to get started. We do have a mix of 401k, Roth, Roth/IRA worth about 45k. My wife and I are 31 and 35. Our kids are 4 months, 2 year 6 months and 4 year 5 month old. We crave a vacation and financial freedom but oddly enough as far as we have come still can't operate a frugal budget.