I have decided to get a little more organized with my financial goals, and thought blogging would be a fun way to do so.
Here is a little about myself. Despite the fact that I have a bachelor's degree, I have not been able to find a great job. I suppose just majoring in something basic like Psychology could be part of the problem. I've held odd jobs here and there over the past 10 years, but nothing I really could consider a career. I am married to a man who has a business degree, and actually has would you would consider a career. He - I'll call him Joe (name has been changed to keep this anonymous) - makes decent money at his job, so I feel I'm the dead weight. The problem with him is he loves to spend money. I'm the frugal one. Because he makes most of the money, I feel guilty if I try to tell him he can't buy anything.
A few months ago he wanted to try to re-finance our house. Unfortunately, we bought our house at the worst possible time - Fall of 2007 - right before the house values and interest rates both plummeted. So we bought our house for $243,000 3 years ago. We still have $210,000 left to pay on it and we are paying close to 6% interest on approximately $186,000 of it and almost 9% interest on $23,000 of it (we opted to take a second mortgage instead of paying PMI). We were hoping to get a new interest rate in the 4% range, but they couldn't give it to us because after they did an appraisal, they determined our house is only worth $200,000. So we now officially owe more on our house than it's worth. That is depressing that we spent $43,000 for nothing. So my first financial goal is to pay down the mortgage until we are at the break even point.