We are very excited to welcome our baby boy into the world, into our lives, and into our hearts! Having been married for four years, we are more than emotionally ready to extend our family beyond husband and wife. Being emotionally ready to have a baby is one thing; being financially ready is another! Read the rest of this entry
Here at Team Darko, we’ve had some very interesting lessons to learn over the past year. Having two MBAs in the household, we were knowledgeable about business finance, but we still had a lot to learn about personal finance. We got the message about being frugal and saving money growing up. But, what about making our money work for us? Stocks, bonds, and other various vehicles to grow our money… We have a lot to learn about those. Read the rest of this entry
Have you ever felt the need to cut back on the amount of debt you have? Have you ever felt annoyed when debt collectors call you? Have you ever felt guilty about not opening your mail because you hate seeing how much you owe? Have ever used one credit card to pay off another credit card debt? Some of you might recognize this as the CAGE questionnaire used for alcoholism screening. Why use this questionnaire to describe problems with debt? Read the rest of this entry
Going into our marriage, we were a great set up for divorce… statistically speaking anyway. It’s common knowledge that the number one reason for divorce in America is money issues. We had accrued more than $800K in debt coming into the marriage. While we both knew how much combined debt we had, there was no clear pre-marital conversation on how we would address it once we said “I do”. In Part 1 of this post, we talked about realizing that we hadn’t made a solid plan to pay off our debt or save money. A few months later, it was time to go Janet Jackson mode and take “controoool”! (Get those shoulders movin’!)
It was April 2014, about five months after our wedding, and we were ready to call it QUITS! Oh… Not with each other, with our financial advisor and our life insurance agent. They were very nice people, but we were frustrated about not having a plan of attack for our excessive student loan debt and crazy high life and disability insurance payments.
The advice we were getting was not specific to our new situation. Being married is financially different than being single. It’s a two income household now, but it was like our money wasn’t working to our benefit. We weren’t saving or investing as aggressively as we knew we could, and our student loan debt definitely was not decreasing as quickly as we wanted. We didn’t have a plan! Read the rest of this entry
We were finally catching up on season 5 of The Walking Dead when my (Renée’s) phone rings. “ER” pops up on my caller ID. “Ugh! Why are they calling me now?!?” The physician assistant tells me the story of a woman having a miscarriage. I decide that I need to go in. Nothing unusual about our quality time being interrupted by work.
Half jokingly, “Wanna come with me?” I ask Nii. It’s his day off and no doctor wants to be in the hospital on their day off. Surprisingly, he says,”Ok, I’ll go with you. But, I’m going straight to the lounge. I don’t want anybody stopping me in the ER!” So, we leave the comfort of our home and head in… together.
“GOOD DEBT” TRAP
Ever heard of “good debt”? You know… good debt! Student loans, mortgage, car… that good debt. The kind that “builds up your credit.” As the great Bob Marley said, “Don’t let them fool ya! Or even try to school ya!” There is no such thing as good debt. What is so good about owing anybody money? Nothing! Debt is bad. Period! Read the rest of this entry