Dear 43 Things Users,

10 years after introducing 43 Things to the world, we have decided we have met our last goal: completing the incredible experience that has been 43 Things. Please join us in giving one last cheer to all the folks who have shared their goals with the world, as well as all the people who have worked at The Robot Co-op to build this incredible website. We won a Webby Award, published a book, and brought happiness to a lot of people.

Starting today, 43 Things users can export their goals and entries from the site. Starting August 15, we will make the site “read only”. 43 Things users will still be able to view the site and export their content, but we won’t be taking any new content from users. We hope to leave the site up for folks to see and download their content until the end of the year. Ending on New Year’s Eve takes us full circle.

It has been a long ride (one of our original goals was to "build a company that lasts at least 2 years” - we beat that one!) While we wish the site could live on, it has suffered from a number of challenges - changes in how people use the site, the advertising industry, and how search engines view the site. We wish the outcome was different – but we’ve always been realistic about when our goals are met and when they aren't.

As of today, you will be able to download your goals and entries. See more about that on the FAQ page. Thanks for 10 great years of goal-setting and achieving.

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FAQ

A Well-Read Dog Head is standing right behind you

get out of debt
A question about this goal: Expecting twins - better to save or pay off debt? June 1st, 2007 09:23

Answers:

brhorsley

Save enough for emergencies, then pay off debt. Debt costs more, so savings will be harder to maintain. Congrats on the twins!

A Well-Read Dog Head is standing right behind you

Will do! Thank you for the advice and congratulations.

Izzy O'Rourke is a Self-Knowing, Self-Improving Builder per the 43T Personality Quiz

I agree with brhorsley. Childless myself but from other family member’s and friends’ experiences, it’s always worked best to keep a buffer (savings) for emergencies, and work to pay off debt, ‘cause the interest if you have it kills you if you ignore it, and if not, then just “debt” hanging over you is enough to be a killjoy. Congrats on the babies and best of luck and prayers. Remember that the most important thing is a positive attitude, come what may, and good planning accompanied by flexibility!

I would say the same thing, save up an emergency fund, whatever you are most comfortable with and then pay off your debt. The return on your savings isn’t going to make you much, but the interest on debts can cost so much. Any interest you will be making is really costing you since your debt will be charging you more than you would make in interest. Does that make sense?

I would say save to have up to at least 3 months of expenses. Maybe at least 4, considering you are having children and expenses are hard to estimate. After that, put the extra money towards debt.

I’ve got kids and debt, and you are getting sound advice! A cash pad for emergencies and then back to the paying-off grindstone you go! Cheers, and much much happiness and blessings for you!!!!

I think it might be a good idea to quickly build up some sort of emergency buffer. However, I would try and balance paying off debt and building the fund. For example, paying more than just the minimum amount on credit cards, that kind of thing.

Here’s an article that might be useful.

A Well-Read Dog Head is standing right behind you

Done! I realized that I actually do have three months of living expenses in savings and investments, so I hopped back on the debt-elimination train. :-)

I also agree with the advice above and I would take it one step further, as outlined in The Richest Man in Babylon. Save 3 months for emergencies, then pay of all debt that you can.

From then on, live off maximum 70% of what you make, save 10% and use 20% to pay off dept.

Pay off the small debt first and work towards the largest so that you get fewer and fewer debts and don’t consolidate your debt. That just makes it too easy to continue to borrow.

This is the same advice for babies or no babies by the way. Good luck!

A Well-Read Dog Head is standing right behind you

Wow – I’ve never read that book, but the strategy is basically what I’ve been following. Thank you!

angniks had a nice birthday...thank you :)

PAY OFF YOUR DEBT! Especially if it can be done soon. Then you can free up that income.

I’d go by the Dave Ramsey plan myself. But, I’m cheering you on your way to finding the answer. I’m still very excited for you, btw. :D

A Well-Read Dog Head is standing right behind you

Thank you! I’m looking into that link – I’m happy for any help I can get. :-)

i found dave ramsey via 43t and love love love him! : )

A Well-Read Dog Head is standing right behind you

Incidentally, I now think Dave Ramsey kind of rocks!

I think your question has a lot of varibles. What type of health insurance you have, income levels, type of debt, etc. If it’s high interest debt (i.e. credit cards, etc.) definately pay it off. If you have no insurance or low coverage insurance save more. Are there 2 incomes in the household? You may have to save more and reevaluate your descritionary expenses. Consider your future child expenses. When we had our child the greatest expense for us was diapers; we didn’t use formula. You might consider using some cloth diapers to save money. Good luck!

I agree with jimz.

Both at the same time. How much you allocate should depend on the type of debt and the interest rates. Congrats on the twins!

aimee76

pay off the debt 1st.
& congratulations!!! when are you due?

A Well-Read Dog Head is standing right behind you

I thought about it and decided that since the debt was causing me stress, I ought to take it on. So, I’m balancing more debt payment with less savings, but a greater sense of peace of mind.

I’m due in November – and November can’t come soon enough!

That depends…how are your spending habits? If you don’t have your spending under control, it’s pointless to ask the question. Without spending under control, you may use your savings to pay off debt and end up right back in debt.

That depends…how are your spending habits? If you don’t have your spending under control, it’s pointless to ask the question. Without spending under control, you may use your savings to pay off debt and end up right back in debt.


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