kbullsexy07's Personal Debt Cutters Thread

[kbullsexy07]

Debt Cutters

How much debt do you need to reduce?

24,732 ($19,956 as of March 2011)

How did you get in debt?

no excuses- buying things i didn't need/couldnt afford!

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

working as hard as possible to pay off!

Have you created a budget?

yes!

List your top 5 budget busters?

shopping, going out to eat, my dog

What is your plan to get out of debt?

i quit using the credit cards a year ago- but putting every penny extra towards them and all my rebate money!

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

car- 13,266 p-$375.75, 7 credit cards total-11,446.41 intrest rates 0%-24.99% payments total-$248

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

Id like to get the credit cards paid down under 10k- that will be a milestone

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

i want to buy a house- this is ridiculous at 25 to have this much debt!

[kbullsexy07]

posted in wrong thread

[kbullsexy07]

I am doing the unthinkable... I am on my way to acquiring additional debt...I have thought about this over and over since I have been working so hard over the last yr and a half to pay down debt. I am purchasing a condo- so I have a huge debt that will be added to my pay down.

The good news is my parents are "lending" me the 10,000 for the down payment and the mortgage, insurance, HOA dues and property taxes total about $50 less than my current rent. It's a brand new complex so hopefully no repairs are needed in the immediate future!

Please help me stay focused on paying down debt!

[kbullsexy07]

went over all my bills tonight in hopes ive actually paid a few dollars down

new totals-

Honda- 13,035


Credit Cards

Walmart $27.83
Chase $120.31
HSBC $351.60
Victoria Secret $622.76
Citi Cards $ 1,771.17
Capital One $ 3,907.11
Bank of America 4,342.78

Total cc 11,143.56 + Honda = $24,178


looks like ive only paid about $554 down :(

[nmeadows0101]

That is still good. Just take a step at a time. It will add up before you know.

[foodie]

Don't forget to get an independent home inspection on your real estate purchase before you close. Also, see about the home warranty and what it covers, etc.

Good job--

Foodie

[morneau_grl27]

I think you're doing pretty well for it only being a month since you started! Keep up the awesome job. Good luck on the condo as well. :)

[puakinikini]

went over all my bills tonight in hopes ive actually paid a few dollars down

new totals-

Honda- 13,035


Credit Cards

Walmart $27.83
Chase $120.31
HSBC $351.60
Victoria Secret $622.76
Citi Cards $ 1,771.17
Capital One $ 3,907.11
Bank of America 4,342.78

Total cc 11,143.56 + Honda = $24,178


looks like ive only paid about $554 down :(

It has only been a month - you are doing great! I know it is hard to chip away at it, but you can do it. One thing that helps me iss that instead of looking at the dollar amount in numbers - I graph it on graph paper. That way you can see the downward trend and it helps with the motivation. I track my debt reduction each month and every 4 months if I have made steady downward progress, I spend $20 on something I want. In April, I bought myself a pair of sunglasses and a clearance purse. It keeps me wanting to be debt free.

[kbullsexy07]

thats a good idea!!

It has only been a month - you are doing great! I know it is hard to chip away at it, but you can do it. One thing that helps me iss that instead of looking at the dollar amount in numbers - I graph it on graph paper. That way you can see the downward trend and it helps with the motivation. I track my debt reduction each month and every 4 months if I have made steady downward progress, I spend $20 on something I want. In April, I bought myself a pair of sunglasses and a clearance purse. It keeps me wanting to be debt free.

[kbullsexy07]

thank you everyone for the Encouragement ! just paid off walmart today!