This is a huge improvement from when I seriously started to attack this credit card debt back on October 20,2011. At the time the balance was $13,055.68. Thus far we have reduced the credit card debt by $2142.00, and that has take a little more than two months.
Our plans for this year are to eliminate the credit card debt. This gives us 12 months. In twelve months we will need to apply $910.00 extra dollars to the credit card to completely pay it off. We can do this!!
And how can we do this you ask?
Currently our living situation is different. We are living with my parents because they both currently need supervision due to age and or health. We are evaluating this situation on a monthly basis. Upcoming decisions will be based on their health and ability to care for themselves.
We still have monthly bills which include the following:
Mortgage 877.00
Phone 183.00
Elec. 50.00 ( may be less, since we are not living there)
Ins. 128.00
Tithe 400.00
ING acct 65.00
1703.00
While we are caring for my parents, they are offering to pay for the groceries, gas and other incidentals. I am no longer employed, since I gave up a recent teaching position to become a caregiver for my dad first, and now my mom. This is significant since I no longer am receiving unemployment either. We only have my husband's income. When my mom returns home, we are going to have to discuss what I will be receiving in return for taking care of her and dad.
This will be an awkward conversation, but I am sure we will be able to come to an agreement. If not, financially I will definitely have to look for employment. But we will see how it goes.
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20 comments:
I don't know how it works in Florida but here if we are looking after a parent (or two) they become our "dependents" at tax time and it greatly reduces how much tax we have to pay. Also, is there any kind of caregiver allowance from the gov't?
What a fabulous accomplishment when you are free from that credit card debt!! Your cash flow will change drastically!!
congrats on getting under $11,000!! and i hope that you are able to figure out an agreement with your parents.
Wow, tough situation, but what a wonderful daughter to be able and willing to do this.
Paying off the credit card is a great goal for 2012! Go for it.
I hope you will be able to work out something that works for you and your parents. Paying off debt is the most brutal and the most satisfying thing at the same time. You can do it! I will be cheering for you!
Kudos to you having a goal to pay off credit card debt and getting under $11,000. I have had to take care of my parents in the past so I know how tough this is for you right now. I pray you can come to an agreement with your parents. Check into that caregiver allowance.
Thanks for your support. I will definitely check into the caregiver allowance.
Thanks Aloysa!
We are going to do it!! I am so tired of looking at it.
Thanks. I am sure it will all work out.
This is all new to me ( the caregiver situation) but I will check into what the govt will provide, if anything :)
Thanks. We will have to see how it goes.
Yay for under $11k Lisa! I hope that you work something out that helps everyone :)
Hope things work out for the best for you and your family. Congrats on the excellent start to paying off your credit card debt. $2100 in a little over 2 months is a fabulous beginning!
That is awesome progress to make over two months and with progress like that I have no doubt you will succeed in your plans to pay it off by December 2012.
I wish you the best of luck and I know you can succeed. I have a feeling the conversation with your mom won't be as awkward as you think.
Hope you're able to figure out something that'll work for everyone!! :) Great job on your debt!!
Thanks Carla, I am sure we can work it out!
Thanks Laura! I think we can work it out :)
Hi Pam,
Thanks for your support! We are hoping to make it disappear in 2012~
You know Rafiki, the conversation did go pretty good!! Thanks!
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