It's The Little Things- Pay Off Your Smallest Debt in 2012!

[kimandkathess]

Right now I have $4574 worth of debt..not counting my house payment. $3748 is my student loans. My payment is $57 a month and I pay $120 every month. Always applying my extra towrads my principle.

I have figured it down to a T on how much to pay to have these paid off my May 2014 the same month i pay off my house. I am currently on a land contract. I pay one reg payment plus an additional principle payment each month. Also every year I will be paying off a years worth of my house with my income taxes. Currently I owe $25,500 on my house.
By the end of 2012 I will be down to : 17,389
By the end of 2013 I will be down to : $4,850
By may of 2014 I WILL BE PAID OFF :)

Now I have little things other than my student loan on my credit im tryin to pay off. $826 worth. I am currently doing everything I can to improve my credit because I am not 100% sure we will have enough money to buy a new house with savings and selling 2 houses. So I want to be able to have loan as a back up just encase.

I recently applied for a credit card to help boost my credit. I need something to show that I can borrow and pay on time. If i don't get approved I am going to wait quite a while and continue to improve my credit more.

So how is everyone else doing?

[gatosqueak]

Doing okay! Paid off one and paid off $157ish on another one so we wouldn't accrue the debt. We put all the high interest cards on another credit card so we have 0% for 18 months. We're getting our tax return soon. We'll pay the HOA fee and then figure out what to do with the rest.

[cody82414]

This is Dave Ramsey's 'snowball' theory

join the monthly support thread

February 2012 - Dave Ramsey Financial Peace support thread - everyone welcome!

[cody82414]

anyone paying off their smallest debt with their tax return???