I haven't talked about finances in a long time, so I thought I would fill you in on the latest happenings here in Cakerwakerville. If you remember, we had to switch insurance companies 2 weeks before Guppy was born. With my old plan, my total out-of-pocket expense would have been $3,000. With our new (much crappier) plan, we had to pay $6,000. You read that correctly. SIX THOUSAND DOLLARS. I freaked the fuck out. I cried. I complained. Of course, all that did was make me miserable.
After Guppy was born and the bills started rolling in, we made the decision to just deplete our savings account and pay all the bills in full. It was tough seeing our savings account go from healthy and growing to nearly empty. But how awesome is it that we were able to handle $6,000 in hospital bills without much fuss? We had hospital bills hanging over our heads FOREVER with Porgie and Izzy.
Right now, we are aggressively trying to rebuild our savings. We have also made paying off our home equity loan a top priority. We have been making extra payments on this loan for the past year, but we still have a substantial amount left to pay. We decided that all bonuses my husband receives from work will go straight toward the loan. If we stick with our current payments and combine John's quarterly bonuses (which vary, so none of this is set in stone), we should have that pesky loan paid off in about 18 months. That would free up so much money every month. Then maybe we could afford to finish off our basement! Or add a second bathroom! Or go on vacation! The possibles are endless!
Before you think we are amazing money-saving and bill-paying-off people, I should tell you that we have spent some money frivolously lately. First, John bought me a cell phone for Christmas (yes, I was the last person on planet Earth to get a cell phone). Then, we bought new cookware for our anniversary in January (We bought this. I love it.). And last week my husband bought himself a new guitar. A very expensive guitar. But, I think we deserve these things. We have been so frugal and thrifty for nearly two years. However, it is definitely time to tighten the belt again. We still have debts to pay, and I can't wait to get to the finish line.