At the beginning of 2022 our debt to income ratio was pretty high. I am happy to say that by the end of 2022 that ratio has changed. Although I have struggled a bit in the last two months to finish paying off the one credit card completely it is down a whopping $5000 in only a few short months. That’s is a huge accomplishment and feels amazing! We also paid off an 11 year home equity loan in July and that has given us a lot more wiggle room.
As far as Christmas spending went this year the only thing I put on the credit card was the purchase I made for my husband for his new E-bike. It wasn’t a small purchase by any means but I know he will enjoy it, get good exercise from it and probably in the long run will save us money because in the summer he can zoom around town on it and leave his car in the garage at home.
I am proud to say this month we paid for three brand new windows for our home in cash and my husband’s car needed some more repairs so we also paid for those repairs in cash too. Pretty fantastic considering we also had our regular bills and Christmas in there too. No one ever said that once we got our debt paid down life would be easy. My mother likes to say to me, “being a homeowner just ensures there is always something breaking down but at least you have the funds to pay for it now without adding it to a credit card dear.” She is absolutely right.
I hope your holiday season was peaceful and love filled. Here is to a new year of paying off more debt and hopefully not adding to it! 😉 -MM