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Old 01-08-2013, 12:15 PM   #16
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I'd love to join in. We built a house last year and moved in in October. While we can pay all the payments, I hate having all these credit card bills hanging around. I hate not having extra money to save for vacation, new furniture and things like that. I hate knowing that I can't buy things I want now because I have to pay for things I bought earlier.

We don't have student loan or car debt, just a mortgage and credit cards. I know we can't get it all paid off this year. But I'd like to cut the credit card debt in half.

Last edited by acename; 01-08-2013 at 12:24 PM.
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Old 01-08-2013, 12:43 PM   #17
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I am in. I still have some student loan debt that I am working on. We have no credit card debt so our focus is the student loans, medical bills , and to pay off our new furniture that we bought in August. We are skipping vacation this year so we can pay some of this down. We are still saving a little bit here and there for a disney cruise in 2014.
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Old 01-08-2013, 01:33 PM   #18
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I will join you. My goal this year is to pay off the 1 credit card we have, my truck (DH's is already paid for), and a small loan we have. I would like all of these paid for by October. We were supposed to go to WDW in August but we have decided to just do a few local camping trips instead. We are paying for an RV so we might as well use it.
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Old 01-08-2013, 02:45 PM   #19
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I will also join. We where credit card free , but got back in again due to my moms illness that required me to be with her at the hospital for a month. We own our cars no student loans so just credit cards. I plan on using dave ramsy snowball plan. I'm going to pay off 2 small credit cards next month so it's a start.
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Old 01-08-2013, 02:56 PM   #20
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We are on a longer plan that one year, more like 3, but all credit cards will be paid off in the 3 years. We'd like to buy a house in 3-4 years, and I told my husband that before I will apply for any home loan I want all of the credit cards paid off.

DD is out of daycare in a year and a half, so when she's out the money we pay to daycare will go to downpayment savings. I'd like us to have a downpayment saved and no CC debt when we apply for our loan. A year and a half of no daycare will give us about 8-10% down on a home. More than enough for an FHA loan, and we will be first time home buyers.

I'm dying to own our very own home...but I want to go into it the right way.
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Old 01-08-2013, 03:33 PM   #21
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Curse you Murphy ( anyone doing Dave Ramsay knows who I'll taking about). My dryer died. The cost to fix it is more than it is worth so we now have to get a new dryer. Oh and of course of cards are maxed out and we have to open a new card to buy it, but life goes on. Just another thing to throw into the snowball I guess. I do not have the emergency fund yet like Dave suggest so this is a complete hit to our budget.
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Old 01-08-2013, 04:23 PM   #22
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I'm going to jump in here. DH's company is closing on Friday and so far we have had no bites on the applications he has been putting in lately. He will qualify for unemployment, but we don't know how much. A supervisor called him today about possibly working a couple more weeks, that would help.

We have some CC debt, and our mortgage. We hit our emergency fund last week to fix the heater, which was less than $100, it will get put back by the end of the month.

I paid off 1 credit card last month and should be able to pay off another one this month, and possibly a second one or at least make a dent in it. We also have a few medical bills that should be paid off soon.

DH is in the Reserves, and that helps to have that income and we can have Tricare, so the majority of my recent surgery was covered and I may be getting some money back because I over paid the doctor (didn't know it would be covered 100% and paid my portion ahead of time). He reenlisted and that will take effect in March, and he gets half of his bonus then.

Most likely, we won't be going anywhere this year, although I really want to go to WDW for my 40th in June.
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Old 01-08-2013, 04:41 PM   #23
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Can I join? We have no cc debt but do have dh's student loan debt (mine were paid off in 2009) and some loans due to hospital bills from my unexpected run in with cancer last year. We hope to buy a new house in another year or two as well (currently renting after a cross country move-didn't want to be stuck in a neighborhood we ended up hating) We are about 25,000 total in debt which to me is a lot. We took out the loans to avoid the hospital I stayed in turning my bill over to collections which they threatened to do 6 days after my surgery if it was not paid in full within the week. We also had to pay upfront for chemo and radiation even with insurance this just about killed us financially. We have less than $500 in emergency fund right now. Hospital Loans will be paid off in November and the student loans will be paid off by january 2014. By 2015 are emergency fund will be where we want it ($50,000). We are considering a trip this year but it will be a budget one if we do decide to go. It's hard because cancer has taught me life is short and we need to make memories and enjoy it but the logical side reminds me that even 3 grand could put us a month or two ahead of schedule on being debt free.
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Old 01-08-2013, 07:13 PM   #24
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Originally Posted by BernardandMissBianca View Post
We are attacking the debt this year too.
I used Gail Vazoxlade's own up to your debt spreadsheet to figure out how to pay each card off.


I put everything on there, including the house and the cars.
It breaks it down with the total and interest and it tells you what you need to pay to get the debt paid off in 12, 24, and 36 months.
I also put everything on that list to pay off in order. Like CC #1 gets paid off first because it has the smallest balance and the highest interest rate.

We are also going to refinance the house when DH's expense check comes in. We can save $400 a month when we switch from the big bank mortgage company to our local credit union.
That spreadsheet helps a lot, really makes reality hit on what we owe and how long payoff could take.
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Old 01-08-2013, 08:36 PM   #25
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I'm joining in.
The next two years are NO spend on the credit cards for me .
I used to be so good at paying cash for stuff and I feel like my credit spending has gotten out of control.I am selling my share of a cottage which should lower my line of credit to a payable monthly expense. I am down sizing my DVC contracts from enough points to travel twice yearly to Disney to one family trip a year--Canadian flights have just become tooooo much!I plan on eating at home alot more.
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Old 01-08-2013, 10:08 PM   #26
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I'm in, we have way more debt than I would like to admit. However DH and I have made a budget and we are committed to sticking to it.

Good Luck to everyone!
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Old 01-08-2013, 10:29 PM   #27
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I would love to join in.
My DH and I are also following the Dave Ramsey plan and are working on our last debt to complete our snowball excluding the mortgage. We still owe for DH's bike and plan to have that paid of this year. We are also refinancing our home to 15 years this month. I keep my budget on a spreadsheet and also track the reduction in debt after every payment. Love to watch it decrease. It's very encouraging reading others stories and helps with motivation. Good luck to everyone
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Old 01-09-2013, 12:19 PM   #28
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I am in too. We started 2013 with 1300 in emergency fund (Dave Ramsey) and only a mortgage and school loan, but the washer and dryer just went out!

I was tempted to buy fancy machines, but our budget is under our emergency fund and then we have to get that back up to $1000, so we'll see how this first month goes!
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Old 01-09-2013, 12:28 PM   #29
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I'm a Tag Fairy junkieI wanted to be a lawyer or a teacher, and now I'm both, I'm a mom!
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Originally Posted by dreamin_disney View Post
I entered my info but its not doing anything. Is anyone else having trouble with it?
I just tried it and it was working. When I hit the tab button on my computer to move to the next square the numbers on the right changed.

Maybe try another browser?
Focus your attention.
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Old 01-09-2013, 12:29 PM   #30
I just love a dancing banana!
I'm a Tag Fairy junkieI wanted to be a lawyer or a teacher, and now I'm both, I'm a mom!
Rum makes math fun!
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Bonus for us!! DH did his expenses and we will bank enough after paying AMEX to pay off the kids tuition for the rest of the year, pay the oil bill (ouch!) and pay the rest of the car taxes from the end of 2012. Not really getting ahead but at least getting caught up a little.
Focus your attention.
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