“Just almost totally back from the nonsense of the last 4 years”: I paid off the $10k of CC balance today. How can I continue to manage my finances effectively?

Hi Money Minder,

Man, I am so close to being out of the mess from the last 4 years. Just have my mortgage and my wife’s $12k student loan left to deal with!

I’ve been shuffling the balances around different zero interest promos and still managing to keep up with our retirement savings. I’m feeling pretty good about how I’ve handled everything and avoided getting slammed with high interest rates.

Cheers,
Josh T.

Response from THE MONEY MINDER:

Hello There,

Congratulations on almost making it through the financial challenges of the past four years! It sounds like you have been able to navigate your way through managing your mortgage and handling your wife’s student loan exceptionally well. Utilizing zero-interest promos to balance your debt and continuing to contribute to retirement accounts are wise financial decisions that can help you avoid significant interest charges in the long run.

Given your prudence in managing your finances thus far, I would recommend devising a plan to tackle the remaining $12k student loan and your mortgage. Consider creating a budget that prioritizes paying off these debts while still contributing to your retirement accounts. Look for areas in your budget where you can cut back on expenses to allocate more towards your loan payments. Additionally, explore opportunities to increase your income, such as taking on a side hustle or freelance work.

It’s crucial to stay disciplined and focused on paying down your debts to achieve financial freedom and stability. Remember, every payment you make brings you one step closer to being debt-free. Keep up the good work, stay committed to your financial goals, and you will soon find yourself in a more secure financial position. Remember, you have come a long way, and with determination, you can overcome the remaining challenges.

Farewell from THE MONEY MINDER.