ashlea729's Personal Debt Cutters Thread

[ashlea729]

Debt Cutters

How much debt do you need to reduce?

$9,500.00 ($4131.39) as of 7/30/10

How did you get in debt?

Stupidity when I was younger.

You've accrued debt. What are the main factors that keep you from reducing it now?

I need to be held accountable and actually pay as much as possible.

Have you created a budget?

Yes, but not a firm one.

List your top 5 budget busters?

Eating out (not very often), Gas from commute, taking the hubbs to the store with me (he buys pointless crap).

What is your plan to get out of debt?

Pay as much as possible to my cc, then focus on the remainder of my car payment.

List your debt with balance, monthly payment, and interest rates.

CC: 4,500.00 ($1494.22) as of 7/30/10 - 8.46%, Car: 5,000.00 - 9% ($2637.17) as of 7/16/10

How much will you try to reduce your debt by this year?

All of it. :)

What kind of support do you need from fellow Debt Cutters to help keep you on track?

Accountability

[ashlea729]

I am only including my personal debt on this. We just paid off one of my cc's this month, and the hubbs is paying off his last one this week, after he gets paid. We paid off his truck payment last May, so he has no debt, except for the house. I'd like to get to the point that we can have only the mortgage, and be able to put an extra $1,000 or so a month on it. We have a small cushion built up, and we both have 401k's. They are small right now, but both of our employers match, up to a certain percentage. Mine is 3% match and his is 6% match.

[ashlea729]

UPDATE:

It's been a while since I started this, so I thought I'd update and force the accountability.

I paid:

$300 to the credit card in January
$150 to the credit card in February
$175 to the credit card in March
I am on pace to make another $300 payment for April.

The car has been going along as usual... $205 a month.

[ashlea729]

Paid $400 to the credit card last week, and mailing the car payment today. Credit card is down to $3700.00!! :)

[ashlea729]

I paid the minimum on my cc in June because my dog had surgery (that was a whopping $2,200.00!!!) But I just paid $400 last week, and I got a bonus check for a special job I did at work. July is also a triple pay month for me, so my next payment should be around $1,500! Yeehaw! lol As of right now, my cc debt is down to $2995.00 Yippee!

[2mnyteens]

Congrats for being so focused on getting rid of the debt. Doesn't it feel good to know you're making a dent in the debt and WILL be debt free?

[ashlea729]

I'm so excited! :) Thanks for the comment! My birthday is in a few weeks, and I'll be happy to make that payment as a gift to myself. Sounds corny, but I'm excited! lol

[My3sons]

Thanks for the comment on my Debt thread! Wow, you are doing a great job on paying down your debt!

[bevalicious]

Hey! Looks like you are on track and staying focused on your plan, I am excited for you as well as for myself. I never thought that being able to visualize being debt free would be so exciting but it is! U are almost to the finish line!

[ashlea729]

Thanks! I can't wait. Getting so close only makes me want to pay more. I never thought I'd say THAT! LOL