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MrsRitaB
Love of my life! <3
Member since 4/10 4669 total posts
Name:
Ri
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can we talk money and debt
obviously very personal questions so if you dont feel comfortable dont answer but i would like to see where i am at with everyone else who is/will be ttc
How much cc debt do you have - not car/student loans just your credit card
and how many months would you like to save before the baby comes?
I have $4100 in cc debt and my goal is to pay it all off by year end - definately do not want to have this when lo comes
i would really like to have a good 6 months worth of saving before lo comes - would love to have been able to do more
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Posted 6/16/10 4:25 PM  |
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Long Island Weddings
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Harlow-J
Mason's mommy!
Member since 12/09 3623 total posts
Name:
Jen
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Re: can we talk money and debt
We just paid off our credit card debt 2 months ago-we did have to pull from our savings to do that, but for us, it paid off!
Now we're in mega savings mode 
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| Posted 6/16/10 4:33 PM |
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MrsRitaB
Love of my life! <3
Member since 4/10 4669 total posts
Name:
Ri
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Re: can we talk money and debt
Posted by Harlow-J
We just paid off our credit card debt 2 months ago-we did have to pull from our savings to do that, but for us, it paid off!
Now we're in mega savings mode
yeah i didnt want to pull from saving because it is my debt and our savings is our money so i feel bad doing so
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| Posted 6/16/10 4:40 PM |
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Bearcat
Love my little girls!!! <3
Member since 6/10 10818 total posts
Name:
E
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Re: can we talk money and debt
Posted by MrsRitaB
Posted by Harlow-J
We just paid off our credit card debt 2 months ago-we did have to pull from our savings to do that, but for us, it paid off!
Now we're in mega savings mode
yeah i didnt want to pull from saving because it is my debt and our savings is our money so i feel bad doing so
We're seroiusly considering pulling from savings and starting fresh. He wants things in a very specific order. house, dog, ttc.
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| Posted 6/16/10 4:42 PM |
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MrsKS
Thank You St. Gerard.....
Member since 12/09 8306 total posts
Name:
Kerri
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Re: can we talk money and debt
I paid off all my debt, So i owe nothing.
DH has less than 5,000 in debit.
we are ttc now.
i don't foresee his 5g debt being that big of a deal. It could be paid off right now if need be. but i'd rahter keep my savings account in tact for when he do have a lo.
I know once he is more established in the job he will make a lot more money and that debt will get paid of super fast.
the idea of paying all that in interest is a killer though!!
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| Posted 6/16/10 4:47 PM |
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babydancer10
LIF Infant
Member since 5/10 238 total posts
Name:
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Re: can we talk money and debt
My husband and I have no credit card debt. Be careful! If you have credit card debt, you will have a low(er) credit score, which could cause banks to turn you down when applying for a mortgage.
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| Posted 6/16/10 5:00 PM |
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MrsDeVito
Gio's gonna be a big brother!
Member since 7/09 4671 total posts
Name:
Christina
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Re: can we talk money and debt
We had zero cc debt until a few weeks ago when we had to pay for the cost share amount for the IVF, now we have 4k. It will be paid off asap though and if I get pg with this IVF it will definitely be paid off before LO arrives.
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| Posted 6/16/10 5:53 PM |
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Re: can we talk money and debt
We don't have any c/c debt. We have student loans and mortgage, but other than that, we pay everything off. DH and I are both big time savers. We definitely live below our means so that we will have a good down payment on a house and be able to buy the house we want to raise our children in.
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| Posted 6/16/10 6:38 PM |
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MrsRitaB
Love of my life! <3
Member since 4/10 4669 total posts
Name:
Ri
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Re: can we talk money and debt
Posted by babydancer10
My husband and I have no credit card debt. Be careful! If you have credit card debt, you will have a low(er) credit score, which could cause banks to turn you down when applying for a mortgage.
i already have a mortgage so thats not a problem
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| Posted 6/16/10 7:52 PM |
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kokomo181
LIF Toddler
Member since 9/09 496 total posts
Name:
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Re: can we talk money and debt
I am not TTC yet..(but really really am getting anxious and want to start probably next summer but having a hard time holding off!).
See I am super paranoid about being financially okay before TTC.
Message edited 6/17/2010 11:12:29 AM.
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| Posted 6/16/10 8:48 PM |
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Harlow-J
Mason's mommy!
Member since 12/09 3623 total posts
Name:
Jen
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Re: can we talk money and debt
Posted by MrsRitaB
Posted by Harlow-J
We just paid off our credit card debt 2 months ago-we did have to pull from our savings to do that, but for us, it paid off!
Now we're in mega savings mode
yeah i didnt want to pull from saving because it is my debt and our savings is our money so i feel bad doing so
The way we looked at it-it's OUR debt, no matter who's credit card.
We pulled from our savings, but we still have plenty of $$ in there.
I feel like it's way easier to save MORE when a portion of paychecks aren't paying something off anymore. But that was just us-we didn't want 6k in debt looming over our heads.
I'm grateful we paid everything off because now that we're PG everything we make is going to savings.
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| Posted 6/17/10 7:32 AM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Re: can we talk money and debt
We have no debt besides mortgage and student loans--and I think the loans will be all done in about 6 months 
I personally wouldn't feel comfortable TTC with CC debt. Babies are extremely expensive and I'd want to know I could afford a baby without going further into debt.
If you have savings, and the CC debt one of you has was for things like your wedding, furnishing your home, clothes for a new job, car repairs--I agree it should be paid off with savings. However, DH had some CC debt when we first got married...it was basically from his ex-gf making him take her out to dinner every night and take vacations he couldn't afford. I was not paying that off--he used his own play money to pay that.
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| Posted 6/17/10 7:47 AM |
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Exarina
My Two Girls
Member since 12/09 1249 total posts
Name:
Lisa Marie
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Re: can we talk money and debt
We have never had credit card debt (together) I had about 3K of cc debt when I met him and he made me pay it off right away lol...
We made it a point to save a years worth of Mortgage payments while TTC we put away anything that we can.
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| Posted 6/17/10 8:13 AM |
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LoLaBlue
PARTY OF 5
Member since 6/10 6900 total posts
Name:
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Re: can we talk money and debt
Thankfully neither of us have any debt, except for student loans & our mortgage.
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| Posted 6/17/10 8:23 AM |
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MrsRitaB
Love of my life! <3
Member since 4/10 4669 total posts
Name:
Ri
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Re: can we talk money and debt
Posted by Harlow-J
Posted by MrsRitaB
Posted by Harlow-J
We just paid off our credit card debt 2 months ago-we did have to pull from our savings to do that, but for us, it paid off!
Now we're in mega savings mode
yeah i didnt want to pull from saving because it is my debt and our savings is our money so i feel bad doing so
The way we looked at it-it's OUR debt, no matter who's credit card.
We pulled from our savings, but we still have plenty of $$ in there.
I feel like it's way easier to save MORE when a portion of paychecks aren't paying something off anymore. But that was just us-we didn't want 6k in debt looming over our heads.
I'm grateful we paid everything off because now that we're PG everything we make is going to savings.
i totally get what you are saying
we are not looking ttc until end of august/september so hopefully whe i do get PG i will have most of it paid
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| Posted 6/17/10 8:24 AM |
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Its4Real
LIF Toddler
Member since 6/10 393 total posts
Name:
Wait and see
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Re: can we talk money and debt
We have credit card debt and a mtgee and that is what has me the most scared about ttc. I would love to pay everything off first, but that would take at least 1 year to pay everything off, and I do not think I will be able to wait 1 year ttc. Heaven forbid I am not able to get PG right away and we have complications that would push the baby off even more. Hopefully by the time I get PG and we have the baby it will all be paid off!
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| Posted 6/17/10 10:11 AM |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
Name:
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Re: can we talk money and debt
Posted by MrsKS
I paid off all my debt, So i owe nothing.
DH has less than 5,000 in debit.
we are ttc now.
i don't foresee his 5g debt being that big of a deal. It could be paid off right now if need be. but i'd rahter keep my savings account in tact for when he do have a lo.
I know once he is more established in the job he will make a lot more money and that debt will get paid of super fast.
the idea of paying all that in interest is a killer though!!
This is a common mistake Kerri! You're (you and DH) paying much higher interest on the debt than you're earning in the bank...I'd pay it down with your savings and then start savings again...
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| Posted 6/17/10 11:41 AM |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
Name:
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Re: can we talk money and debt
Posted by Harlow-J
Posted by MrsRitaB
Posted by Harlow-J
We just paid off our credit card debt 2 months ago-we did have to pull from our savings to do that, but for us, it paid off!
Now we're in mega savings mode
yeah i didnt want to pull from saving because it is my debt and our savings is our money so i feel bad doing so
The way we looked at it-it's OUR debt, no matter who's credit card.
We pulled from our savings, but we still have plenty of $$ in there.
I feel like it's way easier to save MORE when a portion of paychecks aren't paying something off anymore. But that was just us-we didn't want 6k in debt looming over our heads.
I'm grateful we paid everything off because now that we're PG everything we make is going to savings.
LOL thats true too.. You marry someone, you marry their debt!
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| Posted 6/17/10 11:43 AM |
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Bridex100
Two Under Two Mommy
Member since 3/08 10420 total posts
Name:
Momx100
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Re: can we talk money and debt
We don't have any credit card debt.
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| Posted 6/17/10 12:53 PM |
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bonch20
LIF Adult
Member since 9/09 1290 total posts
Name:
Bonnie
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Re: can we talk money and debt
Posted by Exarina
We made it a point to save a years worth of Mortgage payments while TTC we put away anything that we can.
great idea....i hope we can do the same...guess it all depends on how long it takes to get PG. i don't think anyone is ever financially ready. there's always something, you know?
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| Posted 6/17/10 3:52 PM |
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