Last week I set to task at estimating what out tax refund will be because I feared it would be less that I had hoped. Sure enough, the estimate looks bad. This REALLY dampened my mood, and so my dear, sweet husband talked to me about it. After some conversation about our goal to eliminate debt quickly, we determined that there is a difference between good debt and bad debt, meaning, our largest debt, his student loan, might be a separate issue than the debt we have on our last house and the amount we owe my parents. He also talked about how the student loan was a blessing (and so worth it) because in enabled him to have a much better career and income.
So, we have separated the two debts, and are concentrating on the "bad debt" first, continuing with gazelle intensity until it's paid off. Then we need to re-assess and determine how to move forward from there. I feel much better about this goal, especially in the wake of the looming less-than-hoped tax return. It also shortens the term. Right now, the house loan will be paid off in April and my parents in August. BUT, because we keep so much in our checking account (a cushion of at least $3000) we could pay in off sooner. I would LOVE to see it done by the time school is out for summer, but we shall see.
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