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DH and I are going to turn our lives upside down

MrsPattersonMrsPatterson member
in Parenting after a Loss

We are in the middle of Dave Ramsey's Financial Peace University because we really want to revamp our money habits and pay our debt off in the next two years so I can SAH (or at least have that option with future kiddos).  Anyway, Dave talks about being gazelle intense and taking a super-hard look at what you can do to get your debt paid off.  

Well, my dad is moving out of the country for a year in the fall to take some specialty classes and my mom will be by herself, which she does not want to do.  And DH and I have been talking and our mortgage is a big, big hindrance to our finances.  So we decided to rent out our house and move in with my mom for the year that my dad is gone, so we will free up our mortgage payment to put down on our debt.  We will be able to pay off two of my student loans in one year if we do this, and we'll still have our house and be building equity.  I know this is crazy and I know it's not something to jump into lightly, but we are going to really educate ourselves and use our realtor to help us.  I can't believe this is going to happen.  
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Re: DH and I are going to turn our lives upside down

  • Bleeding_HeartBleeding_Heart member
    Wow, thats huge!  Good luck! And good job for taking control of your life/finances!!
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  • mrsandrews07mrsandrews07
    sounds like a great plan!!
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  • mrshutchmrshutch
    Nice work! It will be sooo worth it if you can get it all together. Good luck!
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  • kellialaynekellialayne
    My DH and I paid off 100k+ in debt in two years and it was so hard, but so worth it looking back!  GL and the next year will fly by and you will be so happy you did it!!
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  • StephanieDeanneStephanieDeanne
    That is great! Good Luck.  I wish we could do the same, it would be so liberating to be free of debt!
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  • knortonknorton
    Being debt free is a fabulous thing. It really removes a lot of stress from a marriage. I hope it all works out!
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  • tiffanylaw06tiffanylaw06

    Good for you. Being debt free will be worth all the scarifices you and your family make over the next 24 months. My only advice is to be very careful about renting out your home. Make sure you go through a reputable management company or attorney.

    Have fun with your adventure and call Dave when you're done and scream, "We're Debt Free!" Woo!

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  • Mrs. DissMrs. Diss
    That's awesome!  Good luck with it all!
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  • MrsGhappilyeverafterMrsGhappilyeverafter
    Good for you! Sounds like a great plan.
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  • sunnyday16sunnyday16
    Good for you! Finances are such a burden and if you can get rid of student loans and stay at home, that is awesome.
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  • erinkate23erinkate23

    That's awesome! Way to take control.

    I also think you'll find that your LO has a stronger relationship with grandma as a result - and that's always a good thing.  I wish I'd grown up closer to my grandparents.

    Be careful with your renter choices though - all of it could go to hell in a handbasket if you get a renter who doesn't pay the rent (eviction is a really painful process) or who damages your property.

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  • mh2tmh2t
    Sounds like a good choice for your goals.  I hope it works out well!  (And if you need any advice - DH and I lived with my folks for about four months two years ago, and then he went overseas and I stayed another year until he returned).
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