How Much Debt Do You Have?

[Trotter]

I didn't choose an option as I would have to add it all up. We have two mortgages (current house and our old house we were not able to sell), some consumer debt, medical bills, etc. We are definately into the six-figure range.

Eight years ago we were completely debt free. We had to take out a mortgage on out then home for some expenses of our own and some family. We bought our current home literally just before the bubble burst, so by the time the remodelling of the new house was finished we couldn't even give away our old one. I had surgery in June but then found out after my dad died that I didn't have insurance >.< and am still trying to get that straightened out. Being without a job this past year has not helped any of this, either.

 

[Jim1999]

Must be difficult when you have a house that didn't sell. I'm a little different in that I sold a house in England and can't bring the money to Canada without excessive taxation. So, that money sits in a London bank. Family uses it when they go to England.

Do you rent the house that didn't sell? It must also be difficult when you haven't worked for some time as well.

At least it sounds like you are handling it one step at a time.

Cheers,

Jim

 

[Trotter]

We tried to rent it, and even lease with an option to buy, but no luck. We are doing some work on it as we go along so that my mother-in-law can live in it. We haven't got much done to it thus far but we are slowly getting there.

 

[rbell]

God's best to you, Trotter, and you too, Donna.


We were about $40K in debt ten years ago. Most of ours was "stupid tax," with a bit of "bad luck," poor planning, and some medical stuff thrown in.

We have worked out of it, and have been debt-free for four years now. And as of this year, we've finally gotten up to a four-month emergency plan.

Because we did it on one income, it took nearly ten years to get there. And I'm well aware that there are a hundred different things that are financially bigger than my emergency plan that could hit us.

But God willing, we'll try to stay at this point if we can. We'll do the major thing--no Credit cards, and no impulse buying.

 

[Spinach]

Spinach, Are you in "that" country under a mission board, or freely at your own choosing? Is it your mission board that underfunds you? You have me curious now.

Cheers,

Jim

It's a little of both. We are through a board, but not financed by the board. As in, we raised our own support. We had enough to start. But with the decline of the dollar, increase in gas prices, and expansion of the ministry, our personal finances don't look nearly as good as they used to. But, we are taken care of. We have everything we need. And when we are able to take furlough, we'll try to raise ministry support.

 

[Jim1999]

Thanks, Spinach, that helps to understand where you are at.

Cheers,

Jim