When my oldest son was born, we were debt-free, other than our house payment. It felt really good to know that we had reached our goal of paying off our debt of $20,000. We remained debt-free for over 3 years. I was a stay-at-home mom & we were living on one income. We didn't have a lot, but we had enough. God was providing.
In 2003, we owned 2 vehicles that were paid off, a 30-yr old pickup and a 9-yr old Dodge Neon (which was slowly dying). The Neon was becoming extremely unreliable & constantly breaking down, leaving us stranded (with a toddler in tow). Not a good situation. My hubby spent a lot of time working on the car, fixing each thing as it went wrong. It was costing us a lot of his time, as well as money.
We had been putting up with this for about 3 1/2 years, never knowing when & where we were going to get stranded. It was so frustrating! So we finally decided to trade in the Dodge Neon for something more reliable, and we bought a used mini-van, adding a vehicle payment to the mix. It has never left us stranded, and we still own it today. I love it!
Then the following year, my hubby decided to sell his 30-year-old pickup for a newer model. I can't say that I blamed him... I sure wouldn't want to drive that thing... it was as old as I was! Add in vehicle payment #2.
Somewhere in there, we also added in a credit card & began using it occasionally to live beyond our means. Not really the vision we had when we first got married. We were still doing okay, but things were tight. Having debt was really starting to become a burden. Something needed to change...
Check back next week to read Part 3...
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