Please read the entry before this one to see additional info on this topic! 
So here is DF's Debt, it is listed in the order that we plan to pay it off. We are also checking to see if he can condence any more debt into the store loan since that is at 2% interest.
Sorry I don't know how to insert a chart on this boards.
Creditor - Interest - Min Payment - Balance
Student Loan---?%---$50.00--$93.97
Banker Gurl----0%---$0------$500.00
Scheels Card--25.24%--$25.00-$929.70
LOC US Bank--21.9%--$123.66--$4994.05
Total Rewards Card--17.99%--$50.00--$3955.66
Ideal - My Ring-9.99%--$213.00--$9334.87
HELOC--under 4%-----$332.54--$30,324.70
Store Loan--2%--$121.20 per paycheck--$14560.82
Mortgage--under 4%---$682.96---$89431.91
Total Minimums = $1598.36 Total Debt $153625.68
How did he get here?
-He had to pay off his ex as they had a house together which he kept and had to pay her out for equity, that is how get got the HELOC.
-After his breakup he stopped caring for awhile (understandable to some degree) and spent what he wanted when he wanted and didn't worry about damage control.
-Gambling
-Many, many car, truck and boat repairs
-General overspending on me (taking me out to eat, trips, expensive gifts, wedding ring etc.) Had I known his actual financials I would have put a kabosh to that in a hurry. In no way did I want to contribute to his debt, but nothing we can do about the past.
We have discussed all the things that happened that caused him to get into debt, (including the fact that he had no money in savings to cover the unexpected expenses) so that they don't happen again.
And now, THE PLAN:
As of right now, we will be paying only minimums on all debts including my home loan. DF is paying off the student loan, and paying me back this week, so those 2 will be gone right away. We will then be putting every penny we can find into savings until after the closing on our new house. Between the closing costs, appraisals on 3 houses, and the down payment, I am going to be pretty close to tapped out. So we will put everything in savings until after the house closing. Once that (and the wedding!) are done, we will continue to put into savings until we get back to $5K (which should be immediatley after the closing). Once we are at $5K in savings, we will pay off the Scheels Card. After that we will have to have a pow-wow to decide if we are going to attack the next debt, or get savings up to $10K before we do the next debt. I am just really uncomfortable not having much in savings, so we will see where we are at that time.
The Snowball!
The good news is once we have renters in both of our houses, we can really roll threw this stuff quickly.
As of right now, including all 3 mortgages, and all monthly bills, mimimum payments on all debts, without new renters (just counting our current roomates), we already have a $500 overage each month to start our snowball (we made a very detailed budget with a lot of wiggle room to start with so we can make adjustments). So that is great news. Once we move into the new house, we will rent DF's house for between $1000-$1400 per month, I think we can get $1400, but we shall see. The current roomate that pays him $400 will most likely be moving with us, so we will have his $400 extra as well. There is also a possibility that our renters cousin will be moving with us, he has been staying here a few weeks due to work and just paying $50 a week as it was supposed to be temporary, but now it's been almost 2 months. If he is still needing a place when we move we have offered to him that he can move with us, but then would need to pay $400 a month as well. We should be able to rent his house within a month of moving out as there is only minor repairs and of course cleaning that needs to be done. Once we have my house ready (I would estimate 6 mths at least till that is ready) I should be able to get $1200-$1500 per month. My current roomate will still be living there until then and paying $600 that whole time.
So our snowball will be:
Start = $500
+$1000-$1400 Rent at H House
+$1200-$1500 Rent at B House
+My Overtime Pay
+My FB Sales
+DF Coaching Pay
+DF Extra Job Pay ($75 a month)
+Minimums as we get items paid off
Once we get rolling we will have this junk gone in no time! Our goal is going to be to have everything except for the HELOC, Store Loan, and mortgages paid off by our 1 yr anniversary.
Open to any comments and suggestions!
DF's Debt and our plan to attack it!
June 22nd, 2015 at 08:07 pm
June 22nd, 2015 at 08:43 pm 1435005784
June 22nd, 2015 at 09:40 pm 1435009251
But overall, good plan.
June 22nd, 2015 at 09:45 pm 1435009541
June 22nd, 2015 at 11:41 pm 1435016500
June 23rd, 2015 at 07:14 pm 1435086887
Just something to think about - but does he want what you have to offer, and is displaying what he thinks he needs to have to attract you? I also ultimately paid for my own wedding ring (and his as well). . . at the time I thought nothing of it (who wants to start a marriage with debt, right?) but for us it is a small picture reflection of the effort he has ultimately been willing to put into our life together.
June 23rd, 2015 at 08:27 pm 1435091271
June 23rd, 2015 at 08:46 pm 1435092409
June 24th, 2015 at 09:12 am 1435137163
June 24th, 2015 at 04:54 pm 1435164866
We are having a prenup, I already have it drawn up, just waiting for the appraisals on our houses so we can include the home equity for each of us. We have listed our savings, debt, home equity, furniture, personal belongings, retirement, HSA, my wedding ring, the dog, etc. Anything else I should have on the prenup?
I do believe that DF 100% wants to make changes and make a better situation for both of us. My only concern is as a gambler myself, I know it is hard to cut back/stop and I am worried about that. He is very adament about fixing this and told me he feels sick about it everyday. We will be within 10 mins from the casino several more times this summer before the wedding, so this is his time to show me what he is saying he can do. We have both agreed to NO casino/gambling at all at least until after the wedding. After the wedding we will discuss again and see if we want to have a small casino trip as a reward for paying off one of the CC. We would have limits about how we are playing and how much we are bringing, and this would not go back to a regular hobby, but a reward/trip. If we can't handle having limits then we can't go at all. He has taken all credit cards out of his wallet (I insisted he keep one in there for absolute emergency situations) and has stopped all spending except for fuel and bills (groceries are covered by his grocery allowance from his employer). He called me the other day when he was out of town for softball, normally he would go out to eat afterwards since it is an hr away and they are hungry after playing. He didn't go out to eat, and called to ask me if it was ok if he got a Red Bull at the gas station since he was tired. I certainly don't want him to think he needs to call me everytime he wants to spend $2(and I told him that), but I think it's great that he stopped to think about it and isn't just mindlessly spending anymore.
He knows about my concerns and in his words "cant wait to prove them wrong". I am very hopeful for us as a couple and where we can be!