New era for family finances

Call me a green socialist (or a tax and spend liberal like my Hubby likes to tease), but I couldn’t be more thrilled by the signing of the health care bill. I’m still in disbelief about how contentious its been…doesn’t everyone get sick, Democrats and Republicans alike?! Perhaps its because I lived in Denmark, but universal health care seems like a simple solution, especially when it could cost less for everyone and provide a societal safety net thats hard to put a price tag on.  I consider my family to be very lucky to have employer covered health insurance. Even though I know that we work hard to earn it, I believe that health care should be a human right, not an employer based privilege. Stories about families struggling due to health care costs are heart breaking, and I am hopeful that the new health care bill will improve the lives of many families.

The passage of the new student loan program is exciting too, both for myself and our kids. I was among the first in my family to graduate from college and while emotionally supportive, my parents couldn’t financially put my Sis and I through school. Between college and grad school I took out significant student loans, $66k total for six years of schooling, while working part-time throughout.
I been making payments for ten years now, and it really feels like I’m trapped in a sanctioned bank racket.  My loan has a 3.25% fixed interest, and last year I paid $3,456, but $3,051.74 was paid in interest, so only $404.26 was paid on my principle. Yet, even after a decade of consistent $288 monthly auto-payments, my loan still amounts to $46k. In all honesty, I was expecting that I may still be paying off my student loans when my children start college. This has been a challenge, because I want to start saving for college, but need to pay off my own debt first.

Thankfully student loan forgiveness is now available to hard working college grads. Moreover, families won’t have to incur the same level of debt to begin with larger tax credits and more Pell grants.  I am so thrilled that the next generation will not face the same insurmountable student debt. Thanks to my fellow “green socialists” who voted, spoke up and worked to make these significant policies possible.

Will your family benefit from the health care bill?
Are you saddled with student loans?

Sustainable Family Finances
The story of a family creating an abundant and sustainable life.

One thought on “New era for family finances

  1. Darby McClintock

    This is really ridiculous, but you can find a law inside tax laws which allows the federal government to acquire taxes from the profit of illicit drugs. The IRS has unique principles where narcotic dealers are allowed to anonymously pay back taxes over the sale of unlawful drugs. And to top it off, should the dealer is sensible and pays the required taxes on the drug revenue, if they are ever found guilty of illegal drug dealing they cannot be charged with tax evasion. You have to see this!


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