I just got a comment asking what happened next. Well, we paid off all debt except for the mortgage in March, 2009. We have not taken on any debt since then. We've been slowly working on a 6 month emergency fund, if we should ever need it. We still owe a lot on the mortgage, but were able to save up a significant amount, about 3 or 4 months worth of living expenses in an emergency fund.
In December, 2009, my husband was laid off. Having this emergency fund puts us in a better place than most. With my salary and the savings, we could survive without him working for quite a while. We will get back to saving once he finds permanent employment again.
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