Please be kind with our stupidity

[AbuHossam]

Our story: Without knowing what the baby steps were, just one year ago, we were debt free and in baby steps 4,5 and 6.* We had been on a one year wait list for a pool and full back yard remodel and on another wait list for a tesla.** That summer the tesla arrived, the dig began and interest rates began raising on our not yet used HELOC.** My company was also getting ready to sell the division I work for.* The sale would happen in December, but I would not know if I would have a job until this summer.

I started looking for a financial podcast to see how to get rid of our debt.** I found the Ramsey Show.* Everything Dave said made sense.* After all, I was an accounting major, worked in Controllers and a saver by nature.* I had always thought myself to be fiscally responsible.* But here I was, as Dave would say, I was the ultimate broke-rich and stupid-smart person.* I had listened to the podcasts for months, but couldn't pull the trigger.* Where would we even start?* We lived a cushy life.* But I heard some folks in a different department got laid off.* And the more I listened to Dave, the more scared I got.*

In Feb, instead of using the HELOC to pay the last installment of the pool, I wiped out our FFEF to pay* it (leaving $2K). I wouldn't say I am gazelle intense - yet.* But a couple weeks ago, for the first time in 27 years, I stopped contributing to my 401k and my husband stopped his deferred comp contributions. We also discontinued funding my daughters 529, which we had been contributing to since she was born.* These were HUGE difficult steps for me.* It had been ingrained in me- no matter what, save for retirement and college.

In March, I totaled our debt to be $184K.* With my husband doing a TON of OT and my CURBING our spend, today we are down to $174K.* 4 days ago, I finally made a detailed budget for the first time in my life at 48. I know there is still so much fat to cut.* I need to trim it, get a side hustle, and delete the amazon app, but we are on a way.* I started going though the house and listing stuff on FB market place.

Our goal is to be debt free by the time my husband turns 50 in July 2025.* That's ~$7K to pay off each month 😳.* But we are doing this.* If I can get gazelle intense, maybe we can move our goal to my 50th in Aug next year..but...baby steps..*

I recognize ours is not an income problem, it is a spend problem.

For the first time in months, I feel hopeful, determined, and have an actionable plan.* I just needed to put our stupidity out publicly to the universe to feel accountable.* Thank you for listening.* Your stories have been an inspiration.