So after starting Financial Peace University at home in the beginning of December we have met our $1000.00 emergency fund! Woot Woot! Time to cancel all those credit cards! Wait already done~ well except 1 card, hubby needs to call that one in. Either way, the cards are still gone. It is sooooo freeing to not even have the temptation anymore. Buh-Bye Mastercard….you will not be my master anymore!
On the debt front we are working on baby step #2 The Debt Snowball. I paid off 2 medical bills today (high-five!) and we’re working on the next one. We started off with a total of 7 creditors and $45k in debt. This is credit card, student loans, and medical. We are now down to 5 creditors 🙂 Yippee! The goal is to by the end of January be down to 4 and by tax return time be down to 3.
However there is a slight glitch in the plan…..littlest fruit has to go see a neurologist soon. She has been recently having a few issues caused by something that happened at birth. It is no big deal as far as her health goes. Everything will be fine and the problem should be treat-able. Now we are staring down another medical bill that we didn’t know was coming. Her umbilical cord was too tight against her spine as she came out which we were told could cause a pinched nerve. It doesn’t always happen and just to keep an eye on her. A few days before Christmas we started noticing a few of the signs that they told us to watch for. Unfortunately hubby’s medical insurance has a LARGE deductible that has to be met before they will pay even 80%. Given that he also just got a smallish raise, we have decided to have that amount put into our HSA pre-tax to help cover any new medical expenses.
This is disheartening on so many levels. I want my baby to be healthy and whole. We were relieved as she was hitting developmental milestones without a problem and even a few early. I am so thankful that we caught this problem right away and that it shouldn’t (other than financially) be a problem to correct. It is also frustrating on another level to feel like we are getting somewhere with this debt only to have more future bills that are going to delay our goals. Don’t get me wrong I will pay ANYTHING to help my baby or any of my other kids. My top priority is their health, education, and happiness. I also recognize that this is also our fault for not putting more into our HSA to begin with. My mentality is that in general we have a very healthy family so what was being put in the account would have been sufficient. Aside from the occasional ear infection, we don’t need to go to the doctor unless I’m pregnant. We have been praying asking the Lord to show us things we can sell or ways to make extra money so we can stay on track with our goals and be able to pay off the new medical bills is full when we receive them. Our God is faithful and I believe that since we are acting in accordance to His will, in regards to paying our debt, that He will provide a way! We would appreciate prayers in this as well!