Debt Reducers

[tinaninea]

Thanks for the link! It says I'll be paid off in 3 & 1/2 years. That seems like so long for ssomeone who didn't even consider herself to be in debt.

Oh well, hopefully I can keep up with this and get there!

 

[yupikgal]

I don't know if this has been posted or not but I love this spreadsheet. You just plug all the information in and see how long it will take and tweak it to fit your needs.

http://www.whatsthecost.com/snowball.aspx?country=us

that was nice of you, thanks!

Kelly

 

[mom2kazkids]

Ok I have been following this thread, but was yet to post. I am very happy to say that yesterday I paid off DH truck. Now I just need to work on one credit card with no interest until May 08 that we still owe $800 on, Home Depot with no interest until June that we bought appiances with, and a home equity loan that we will be able to pay off once I receive some money from my mom. By May we should be down to my van payment and our house payment, then I will start double payments on the van and have that gone in a year.

Barb

 

[8 Ears]

I think I am going to , so proud of us last night when after DH sold some firearms we paid off $200.00 in medical bills , then I opened yesterdays mail and we had got another one for $68.51 but then I get home today and we have an email from our insurance of another bill for nearly $700.00

If you have been following me since September you know that one DS broke his leg in September, DH backed into a skidder in October and other DS broke his toes in November so i would think here before long the bills would stop coming in!!?? The $700.00 one is for services provided for the broken leg back in September!! and they were just sent to the insurance in Feb.??!!

OK, back to being positive........ we reduced our debt last night by $200.00

Have a wonderful weekend everyone

 

[tinaluis]

Ok I have been following this thread, but was yet to post. I am very happy to say that yesterday I paid off DH truck. Now I just need to work on one credit card with no interest until May 08 that we still owe $800 on, Home Depot with no interest until June that we bought appiances with, and a home equity loan that we will be able to pay off once I receive some money from my mom. By May we should be down to my van payment and our house payment, then I will start double payments on the van and have that gone in a year.

Barb

Wow, WTG!!!!!!!!!

 

[jhnsnfamily]

and went from 7.5% to 4.78%!!!

I'm saving $65 a month this way, which means $65 more toward our debt payoff plan! Five-year loan ... heh heh heh ... I'll pay it off in 3!

Just wanted to share!

 

[caitty13]

bumping

 

[RayJay]

I think I am going to , so proud of us last night when after DH sold some firearms we paid off $200.00 in medical bills , then I opened yesterdays mail and we had got another one for $68.51 but then I get home today and we have an email from our insurance of another bill for nearly $700.00

If you have been following me since September you know that one DS broke his leg in September, DH backed into a skidder in October and other DS broke his toes in November so i would think here before long the bills would stop coming in!!?? The $700.00 one is for services provided for the broken leg back in September!! and they were just sent to the insurance in Feb.??!!

OK, back to being positive........ we reduced our debt last night by $200.00

Have a wonderful weekend everyone

These things will happen, stay strong, your doing great.

RayJay

 

[Juliee8]

I just sent in the final payment for our medical bills!!! I also called 2 of our credit cards companys and got them to drop our rates down to 7.99%!!!

 

[lttlmc3]

bump!

 

[dustya21]

Thank you everyone for the great inspiration!!

I check the budget board every day, as I get down about bills!! But, I can honestly say their not as bad as they used to be.

After reading everyone's stories, I made myself sit down and put on paper where we are financially. It wasn't near as bad as I felt it was. As a matter of fact, within 4 months we'll be down to house payment, car payment, small loan and utilities!! YEAH!! (With about 1000.00 in the savings!! Not much, but it's a start).

DH (bless his heart) is working about 70 hours a week right now and the overtime pay is helping tremendously. My goal is our next Disney trip (we haven't been to Disney since '05). When we went, we paid cash for everything except for the $126.00 credit card bill when we got home!! That was for the room for the last two nights (we went during off season). We want to go again in 2009, but only if we can save up the cash for everything. I'm just gonna keep plucking away at it.

So good luck to everyone, and thanks for all the great inspiration!!

 

[caitty13]

I got another CC paid off and I am selling suff around my house so I can pay off even more.

 

[MinnieVanMom]

Friends, I need help!

I blew the debt snowball and budget last week. I used a CC to buy a Wii. I didn't have room in the budget and didn't have anything saved for the expense so I found an old CC and just charged it. Why oh why did I do this? I know all the rules but just had a moment of weakness.

I plan to take my next pay check and use all of it to pay off the Wii.

Has anyone else had a weak moment and fell off?

The good news, I am half way through paying off the second CC and will be finished with it in two more payments. I am still not going to Disney until I can pay cash!

 

[tinaluis]

Friends, I need help!

I blew the debt snowball and budget last week. I used a CC to buy a Wii. I didn't have room in the budget and didn't have anything saved for the expense so I found an old CC and just charged it. Why oh why did I do this? I know all the rules but just had a moment of weakness.

I plan to take my next pay check and use all of it to pay off the Wii.

Has anyone else had a weak moment and fell off?

The good news, I am half way through paying off the second CC and will be finished with it in two more payments. I am still not going to Disney until I can pay cash!

It happens to all of us, jut get right back on track and you'll be OK. We'd originally planned on paying an extra $800 a month on our mortgage to get it paid off in 3.8 years and we did it for two months and it felt like the end of the world. I was constantly worried that some payment I'd forgotten about would post and bring our checking account below $250 and thus incur fees. I was a nervous wreck. Sooooooooooo, we've decided to pay an extra $100 a month on the mortgage and put the rest into different savings accounts (vacation, savings, retirement, college, etc.) With the extra $100 payments, our mortgage will still be paid off in 19 years (I wish I had read Dave Ramsey before and scraped the $$ together for a 15 year mortgage -- hindsight is 20/20 ),

Hang in there. We all have setbacks. Just make sure you pay off the CC bill before it's due so you don't incur and residual interest charges and then make sure you put the CC away.

Oh, and congrats on getting a Wii. They're so much fun!

 

[Disneyoverload42]

Friends, I need help!

I blew the debt snowball and budget last week. I used a CC to buy a Wii. I didn't have room in the budget and didn't have anything saved for the expense so I found an old CC and just charged it. Why oh why did I do this? I know all the rules but just had a moment of weakness.

I plan to take my next pay check and use all of it to pay off the Wii.

Has anyone else had a weak moment and fell off?

The good news, I am half way through paying off the second CC and will be finished with it in two more payments. I am still not going to Disney until I can pay cash!

Yeah, we went to WDW last year (we paid cash but still - it wasn't necessary or budgeted initially)

All I can say is get back up and turn around. Just because you slip doesn't mean you have to slide Sometimes making a mistake is what it takes to turn it around... I love Disney, I love that we went - but not a day goes by that I don't look at that last LOC balance we have and think "That would be done by now if we hadn't gone" It certainly is motivation to pay everything off so next time will be without guilt.

 

[Terk-1]

1. Cancelled NetFlix
2. Have $200 per check deposited directly into a savings account with another bank.
3. Have a personal loan that is paid off in full next month. The payments are electronically withdrawn from the savings acount in #2. Once this is paid off, I'm going to leave the deposits going into this account to be able to save $400 each month.
4. Have been using my Visa Check card to pay for things knowing that I have to have enough in the account BEFORE I buy anything. This has helped curb my spending alot.
5. Have cut WAY WAY back on purchasing dvd's or cd's. There is a Redbox in several of my local grocery stores. I can rent a movie for 2 days/1 night for $1. A whole lot cheaper than $5 at Blockbuster.
6. Am going to start bringing lunch to work, so that should cut that expense way down.

I'm looking at the snowball site right now and that looks pretty good. It's basically telling me to pay more on one card and minimum on the other. Doing it this way would have one card paid off by May 2009 and the other by the January 2010. This would be instead of paying the same amount on each card each month. Am going to give this a try next month.

 

[PIERCEDRN]

It happens to all of us, jut get right back on track and you'll be OK. We'd originally planned on paying an extra $800 a month on our mortgage to get it paid off in 3.8 years and we did it for two months and it felt like the end of the world. I was constantly worried that some payment I'd forgotten about would post and bring our checking account below $250 and thus incur fees. I was a nervous wreck. Sooooooooooo, we've decided to pay an extra $100 a month on the mortgage and put the rest into different savings accounts (vacation, savings, retirement, college, etc.) With the extra $100 payments, our mortgage will still be paid off in 19 years (I wish I had read Dave Ramsey before and scraped the $$ together for a 15 year mortgage -- hindsight is 20/20 ),

Hang in there. We all have setbacks. Just make sure you pay off the CC bill before it's due so you don't incur and residual interest charges and then make sure you put the CC away.

Oh, and congrats on getting a Wii. They're so much fun!

Funny I just fell upon this thread but I am so excited!!! I just locked in on a 15yr fixed refi of my 30 yr mortgage and a moderately sized 10 yr home equity. After gettin 5.25% with no points with Countrywide and rolling in closing my final monthly payment is $10 more than I was already paying monthly!!!. I CAN'T BELIEVE IT!!! I will literally be saving the cost of my house over the life of the loan!!!
BOB

 

[tinaluis]

Funny I just fell upon this thread but I am so excited!!! I just locked in on a 15yr fixed refi of my 30 yr mortgage and a moderately sized 10 yr home equity. After gettin 5.25% with no points with Countrywide and rolling in closing my final monthly payment is $10 more than I was already paying monthly!!!. I CAN'T BELIEVE IT!!! I will literally be saving the cost of my house over the life of the loan!!!
BOB

Wow, that's GREAT!!!!!!!!!!!

 

[PIERCEDRN]

Wow, that's GREAT!!!!!!!!!!!

I'm absolutely flabbergasted! I had to call my sis-in-law/accountant to be sure I wasn't out of my mind. Its a total no brainer! The rate could drop even more, it apparently dropped today after bank hrs. which is unusual. Can't wait to find out!
BOB

 

[callaghan0416]

I'm absolutely flabbergasted! I had to call my sis-in-law/accountant to be sure I wasn't out of my mind. Its a total no brainer! The rate could drop even more, it apparently dropped today after bank hrs. which is unusual. Can't wait to find out!
BOB

and enjoy the feeling, it is so worth it!!

callie