My hubby and I have financed our lives away. We started in 2001, when we started college. We took out many many thousands of dollars of loans to live on - to pay for gas, eat... Now, 7 years later, we are paying over $600 a month on school loans. That is hard for any budget to absorb.
We are considering consolidating all of the loans, but as I am looking at it - the term of repayment will go from 3 years and 8 years to 30 years.
30 years!!! My oldest daughter could have teenage children by then.
But the thing that has stolen my peace is how eager he and I both are to reconsolidate. For the price of about $150 a month we are putting ourselves into 20 more years of bondage. How can we, two very smart people, be so dumb over and over and over. We do this on a regular basis - Can't pay for it now? No problem - pay for it over time....over a LONG time.
However, I have confronted my husband over two really big issues in the last month, so I don't feel I even have the right to mention how wrong I have been in this big decision.
Oh Lord, please free us from the bondage of debt.
Show us areas of our lives where we have indulged and can now cut back.
Deliver us from foolishness and help us make wise financial decisions.
And please help hubby and I to be unified in our finances, and not warring amongst ourselves.
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1 comment:
Amen, Lindsey...Amen.
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