Hello all, I wanted to give an update and hoping to hear back from you all…

trying to make sure my path is clear (moving forward) as opposed to “clear as mud”…. First of all, I’m so excited to say that we have PAID off all of our consumer debt – two vehicle loans, medical bills, and credit card debt. Approx $90k all while having extra expenses of another $50k.This has been a great accomplishment, but we’re nowhere near done.

Due to our odd circumstances (I’m self employed, have six kids – ages 18, 13, 8, 7, 6 and 4). Went from this step to completing our EF. We have a 6-mo EF in the bank and another 2-month essentially in Roth IRAs.

Since dh is 60 and we’ve had no retirement, we have had him just contributing up to the match (4%) in his 401k. This account is at $20k. Nothing else is being saved towards retirement.

I’ve really felt like just a huge race against the clock… He has a good income, but he won’t be working forever, and is still paying alimony for another 5.5 years to the tune of $816/mo. So we can’t really RAMP UP our retirement savings like we need to while we’re still paying that.

NOW, the debt I have remaining is the following:
Sallie Mae #2 $ 19,553.70 @ 3.25% interest $126.95/mo
Sallie Mae #1 $ 23,534.46 @ 3.25% interest $151.63/mo
Rental property mortgage $137,913.81 @ 5.5% interest $1125 /mo
Primary home mortgage $305,000 @ 3.25% interest $1765/mo

Still lots and lots of money we owe, obviously. Should the student loans as my snowball, then raise retirement savings to 15%, then start saving toward the kids college (I’m hoping to be able to at least pay for their books – seriously), and THEN start focusing on the two mortgages? Or how would you do it?

Thanks for the input 🙂

This describes me to a “T”

That is why one of the pieces in my studio has a flat top and the doors on the bottom are glass. I can look through them to see what is stored below. I have very little that is stored behind doors in my sutdio. It is almost all on open shelves and this piece I described.

My pantry in the laundry room is a set of built in shelves that are open front. No doors or curtains hiding anything.

This out of sight out of mind mentality is why I also like curio cabinets. I can see my goodies, keep them from getting dusty as fast and they are kept safe from people who like to handle things but are not careful enough … kids and adults alike!