Tuesday, June 9, 2009
A big step!
I just wrote the check to the credit card company. Now it will be just about $1000!!! $5,185.34 now paid on it!! Woo!!! Next month it will be gone and we will never again have to see a credit card!
Thursday, June 4, 2009
Goal for 2009
After talking a little bit tonight, we have a goal for the end of 2009.
1.) Pay off Credit Card-we will pay off all but $1000 this month, so it will be brought down from about $6200 to $1000. I am super excited about this. The rest of this will be paid off in July, which is a 3 paycheck month so we will use that "extra" paycheck for our debt only.
2.) Pay off Phil's last student loan-it is hovering right around $1000. So we are hoping to pay it off with July's money. We will use the rest of the extra paycheck, and then the extra money that we squeeze out of our budget.
3.) Pay off the hospital bill-even though it is at 0% interest, it will then be the next lowest by then and we would feel better just getting it taken care of. Plus, it is up against a $3500 loan and then the other two which are even higher :(. We would rather get it knocked out and have that extra $100/month for the other loans.
So that should be another $10k paid off by the end of this year. Granted we have an appx. extra $5k in tax return and 1.5k in an extra paycheck. We will be down from about $30k to $20k in debt!!
Also, in January 2010 we get another "extra check" and then a little later, hopefully a decent tax return, because Phil ended up claiming less than he should I think. So we will be on our way to knocking out my first student loan. So I hope that by March or so we will have my one student loan taken care of and only the two big ones to go!!
We can do it!!!
Edited to add: This is all assuming we have no mini emergencies, or ... big ones. Pray that doesn't happen!
1.) Pay off Credit Card-we will pay off all but $1000 this month, so it will be brought down from about $6200 to $1000. I am super excited about this. The rest of this will be paid off in July, which is a 3 paycheck month so we will use that "extra" paycheck for our debt only.
2.) Pay off Phil's last student loan-it is hovering right around $1000. So we are hoping to pay it off with July's money. We will use the rest of the extra paycheck, and then the extra money that we squeeze out of our budget.
3.) Pay off the hospital bill-even though it is at 0% interest, it will then be the next lowest by then and we would feel better just getting it taken care of. Plus, it is up against a $3500 loan and then the other two which are even higher :(. We would rather get it knocked out and have that extra $100/month for the other loans.
So that should be another $10k paid off by the end of this year. Granted we have an appx. extra $5k in tax return and 1.5k in an extra paycheck. We will be down from about $30k to $20k in debt!!
Also, in January 2010 we get another "extra check" and then a little later, hopefully a decent tax return, because Phil ended up claiming less than he should I think. So we will be on our way to knocking out my first student loan. So I hope that by March or so we will have my one student loan taken care of and only the two big ones to go!!
We can do it!!!
Edited to add: This is all assuming we have no mini emergencies, or ... big ones. Pray that doesn't happen!
Tuesday, June 2, 2009
I'm feeling some progress!
We got our tax return a couple days ago and I deposited it into the bank today! I figured out that this month, we can pay off all but $998!! So, its on the top of our "debt snowball." It'll be good to get rid of it!! From $6200 to none, will be such a big step. Then Phil's student loan he has left is under $1000 right now, then we'll be done with that too, and left with one hospital bill (which shouldn't take too long because 0% interest, and my student loans, yuck!) I feel like we're making progress :).
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