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A little bit of an overwhelmed feeling… know we can do it, but still have “nag” I’m fighting off my shoulder

Posted on : 19-06-2009 | By : The Wife | In : Debt Discussion, The Journey

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I’m an optimist… but even optimists fight off nagging doubts once in a while.  I’m fighting mine off right this very minute. I am definitely gung ho about following Dave Ramsey, 100% to a T, even to the point of being fully mortgage debt free.

My nagging doubt? The fact that we have more student loan debt than anyone on earth (ok not literally, but it sure feels like it) and the fact that we are going to have to do baby step #2 in 2 stages… the first by paying off credit cards and auto loans, then splitting the step in half and saving a bigger emergency fund, then paying off the student loans and personal loan we have.  Yes, our student loans combined are approximately double our annual salary.  The personal loan we have is just slightly under our current annual salary.

I know we can pay it all, it will take time, I just want to make sure we are doing it right.  For now, we are putting $2,000 into our emergency fund.  $1,000 just makes me nervous, especially with questionable appliances, a questionable car and some potential medical expenses coming up (suspect braces for at least 2 kids, suspected glasses for another, etc).

Anyway, just about done with baby step #1 (saving the initial emergency fund – which I upped to $2,000 from Dave’s recommended $1,000).  Can not WAIT to get into paying off the debt again (yes, we’ve been credit/auto debt free before).

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