My Debt Confession Update || How Much Have We Paid Off In 4 Months? ||

[@tracymccarty2578]

Wow you have paid off so much debt. I love planning and I am always looking at my budget. Love this video!!

[@boymomlovestosave]

Since I have started this journey, I have spent so many hours crunching numbers. But I knew we had to do it because of my student loans because I have well over 100k in student loans.

[@jessiefaw9127]

Such great progress since May! Love seeing the debt updates, gives me hope. LOL

[@boymomlovestosave]

Thank you. There’s always hope. I still have a ton of debt but I’m finally feeling like we can somewhat breathe again. The pandemic did us in and so now it’s just a slow, but steady progress to dig our way out

[@DebtFreeJessie]

Omg, Linsey! You guys are killing it!! Almost 30k since May! You got rid of so many monthly payments. Loved seeing your plan written out. Rooting for you both!!!!

[@boymomlovestosave]

Thank you so much. I’ve been taking advantage of my husband working so much overtime. We both hate how much he’s working but we’re making the best of it. He liked seeing the numbers and said at least him working so much is not for nothing 💚

[@KatieoftheHouse]

I love to see all of those debts checked off! You have made incredible progress this year! So proud of you. I can’t wait to see how fast you get the rest paid off because you are on FIRE 🎉

[@boymomlovestosave]

I just wanted another 6 months of no interest/payments on student loans 😩 It will probably slow down some now that I’ve started paying money to student loans. I’ve paid money to them the past 2 weeks now & plan to keep paying weekly. Thank you for watching and words of encouragement 💚

[@Lifeoverdebt]

That’s amazing Linsey! I am so happy that I get to come along on this journey with you!

[@boymomlovestosave]

Thank you. I appreciate it 💚

[@yolandareese923]

Great job planning. YOU GOT THIS!!

[@boymomlovestosave]

Thank you. We’re getting there

[@CruzBudgets]

Hey Linsey!!! Wow I’m very impressed with the amount you’re putting towards debt! Amazing progress! If you keep this up you’ll definitely be able to pay off all your debt soon enough! Great great job Linsey! Thank you for sharing 🤗❤❤❤❤

[@boymomlovestosave]

Thank you. My husband has been forced to work a ton of overtime. I’m not sure how long it’s going to last. We hate it but also taking advantage of the extra money. Thank you for watching 💚

[@hollyhoelscher23]

Thanks for your honesty, vulnerability, and transparency. It truly motivated me to write down all my debts, make a plan, and use this plan. I was always thinking "I need to..." but never followed thru. I started today gathering all my papers. Thanks again

[@boymomlovestosave]

Ugh. It’s the worse thing to do. I hate it but it helps keep me focused on my goals. I’m so glad you did it. It is hard but it really does help. You got this! 💚

[@BudgetStuffSaveRepeat]

Linsey…you guys will be rolling in dough when this debt is gone!!! I love tenacity and drive!!! Looks like you have a solid plan!!!

[@boymomlovestosave]

Thank you so much. I keep thinking about the amount of money we can put in savings once all this stuff is paid off. It will happen eventually 😂

[@BudgetsWithELMA]

Loving your content & personality, you are definitely going to slay those goals for your money and your debt😊

[@boymomlovestosave]

Aww. Thank was so kind. Thank you so much 💚

[@Frugalityislife]

Hey Linsey! Listening while I work ❤

[@boymomlovestosave]

💚

[@amycook5009]

Great video you have paid down a lot of debt so proud of you that's awesome ❤

[@boymomlovestosave]

Thanks so much 💚

[@simplylivingsaves]

Wow you guys are doing great with your debt payoff!❤

[@boymomlovestosave]

Thank you. I hate the number but love seeing the progress 💚

[@normaa9860]

Great planning!😊❤

[@boymomlovestosave]

Thank you! 😊

[@budgetwithsandra1235]

Lindsey, great progress and it looks like you have a good plan for the rest of the year.

[@boymomlovestosave]

Thank you. I hate writing down the numbers and putting it out there for the world but it is nice to see progress being made

[@catsatemybudget]

🎉 love too see that difference number between may and now

[@boymomlovestosave]

The total number is horrible but I love seeing the progress. 💚

[@terryhenderson424]

You should not feel bad about this debt confession/ update video. Thank goodness the two of you bring in a higher income and congratulations for spending a bunch of it on yoir debt. The debt paydown numbers for the past couple of months is commendable and you should feel not only good but proud. And yes, I agree with putting money aside for taxes rather than simply building a sizable debt each year. Even if you don't get them fully paid with your savings, they won't be as far in the arrears amd that's good for multiple reasons. Because you have cash flow, please do start looking at what it would cost to see an independent tax accountant, consultant, or lawyer for a consultation. Once you get that one done and working, please save up to see an estate lawyer. Both of these more on a sooner than later basis.

[@boymomlovestosave]

Thank you so much for saying all of this. I really appreciate it all. My husband and I have talked about these things. We have been holding off until we get ahead on everything. Our goal is to hire & have these people in 2025 because I’m really hoping that by the end of next year these numbers will be way smaller. I know there is no way I can pay all of student loans off in a year but I really think I can get them pretty close to being paid off.

[@terryhenderson424]

@@boymomlovestosave For the tax stuff, I would consider beginning sometime in the early part of 2024 with an intital consult. I'm guessing that you might be able to pay for an initial consultation in savings on your '24 taxes (due in April '25) or at least have a better/ more accurate savings plan for the year. With the big debt paynoff goals, there may be things you delay until Jan '25 including a return to the tax person in Dec '25. I would hope for you that you get to the estate person, which should be an estate lawyer not a retirement planner, by the end of '24 to the beginning of '25. The two of you should have wills, a select or comprehensive set of powers of attorney, and be aware of what joint ownership of things like accounts, vehicles, etc...gives you so that you can make informed decisions. "The will" often is not a one or only which you write once and keep for forever. But a start is better than none at all in many to most cases. The same can be true for the assorted powers of attorney but if one of you becomes incapacitated, it would be good for you to have a firm document which says who may make medical decisions and also what medical measures the doctors are to take or not. On this, I would caution against being too limiting until the aftermath and decisions can be made. Time is money when you pay for these types of services but, its not near as expensive as it might seem.