Debt Reducers

[smiller]

I couldn't wait to go online this morning and pay $300 on my smallest CC - I love seeing that total go down down down!

I'm all for the psychological boost - and it helps that all my CCs are within 3% of each other APR-wise.

 

[StephMK]

Checking in & want to go back & read through all the updates tonight. Everyone's posts keep me inspired. Looks like lots are making great steps & I want to check out some of the websites posted. We definitely need to sign up for the optout - that would save $ & time when I have to sort through that stuff every day in the mail.

I haven't made much progress other than 1 big step in the right direction. I took a FT job!! It was tough to make that leap since I've been home/PT odd jobs for 4 yrs but now I'm pretty excited! It's close to home & we'll be able to make good progress w/bills once I start. Plus both sets of g-mas have offered to come visit during school breaks so our daycare costs will be lower than I budgeted! Yippee!

We have also been collecting all unused/outgrown/unneeded items around the house & I am going to ebay/CL some & either donate or save the rest for our neighborhood sale in May. My dining room looks like a storage space now.

Way to go everyone! I look forward down the road to start having payoff celebrations with everyone!!

 

[NikiM20]

I paid off yet another credit card!! Now the 3 little ones are gone but the 3 big ones remain Baby steps I know......I got myself into this mess , gotta get myself out. But I have paid over $1500 worth of debt in 6 weeks!!

 

[luv2nascar]

We have been so doing so great this month with not spending any money and eating out of the frig/pantry we are going to be able to pay off a large credit card by end of month $2800. Yeah. Also $400 is going towards a vet bill we owe. We have another $300 to pay on that vet bill and another $5500 on two credit cards that are going to be paid off this year. I want a $0 balance at end of the year. Not alot of extra money left this month but more debt paid down. Yeah. I am trying to sell a few things on ebay for extra spending money & filing income taxes today. We are getting around $1900 back. That is going in our emergency funds.

 

[BocaBaby]

I am just keeping track of expenses and income this month to see what I am really spending and then in March plan to make my first budget. I have an actual number for my CC debt and will have the lowest card, my Disney, paid off next pay check.

Keep up the good work everyone!

 

[goofyisinphilly]

I have been faithfully following this thread. This year we are trying to paydown alot of debts. There really isn't anything out of the ordinary. We do have about 7k in cc but that is on a no interest card. Everything else is car, truck, and student loans.

Thursday night I paid off a card that had $1500 remaining. We were very excited. Our excitement was rewarded by yesterday someone backing into my husband's truck...and not leaving a note. Well hello $500 deductible.

2 steps forward 1 step back.

 

[alicenwonder99]

Hi everyone!

I was able to do a balance transfer from my Bank of America card. I can call them tomorrow and tell them to close my account!!! YES! I know you're not "supposed" to close accounts, but I'm going to. I don't ever want to be tempted to use a 24% interest card again!

On another note, I'm applying for a new job. It would mean a HUGE cut in salary for me, and a longer drive to work. But it's a great opportunity. If I get this job, I'll have to rework my whole budget. I'll have to become more creative in finding ways to cut my debt.

 

[NikiM20]

Hi everyone!

I was able to do a balance transfer from my Bank of America card. I can call them tomorrow and tell them to close my account!!! YES! I know you're not "supposed" to close accounts, but I'm going to. I don't ever want to be tempted to use a 24% interest card again!

On another note, I'm applying for a new job. It would mean a HUGE cut in salary for me, and a longer drive to work. But it's a great opportunity. If I get this job, I'll have to rework my whole budget. I'll have to become more creative in finding ways to cut my debt.

I would love to get rid of our 25% credit card, but that is our oldest card (15 yrs) So we just dont use it.

 

[FirstTimertoDiz]

Hi everyone!

I was able to do a balance transfer from my Bank of America card. I can call them tomorrow and tell them to close my account!!! YES! I know you're not "supposed" to close accounts, but I'm going to. I don't ever want to be tempted to use a 24% interest card again!

On another note, I'm applying for a new job. It would mean a HUGE cut in salary for me, and a longer drive to work. But it's a great opportunity. If I get this job, I'll have to rework my whole budget. I'll have to become more creative in finding ways to cut my debt.

I just reworked my budget recently, and was looking for creative ways to trim it down. I signed up at the "living like no one else" forums, which are all about Dave Ramsey's philosophies. I posted my budget on the "pre-baby step 1- form a budget" forum, and I had lots of feedback on things I could do to cut it down. I must say, I was nervous about posting the numbers up there for everyone to see, but now I am so glad I did! Some of the advice was a bit hard to hear, because I was still in denial when it came to some of my "extra" spending money, but everyone there is truly trying to help. Most of them have been in my spot before, and it is inspiring to read how far they have come on this plan. I ended up cutting my monthly expenses by about $300! More for the debt snowball! I am not sure I can post the link here to the other forums, but you can send me a pm if you are interested.

 

[alicenwonder99]

I've lurked on that board before. It's very inspirational!!

After today, I'm off from work for the next 3 days. I think I'll hang out over at that board for awhile and see if I can get some good, concrete tips.

I can't wait to tell Bank of America to get lost! lol. I'm so mean.

 

[Juliee8]

I paid off 4 of our small cc's over the past week! Not a huge step, but it gives us a little bit more to put on our 2 bigger cards. By next month we will have all of our small cards paid off and just have the 2 left!!!

 

[rebecca06261]

I paid off 4 of our small cc's over the past week! Not a huge step, but it gives us a little bit more to put on our 2 bigger cards. By next month we will have all of our small cards paid off and just have the 2 left!!!

Keep up the great work! Even though they are little ones, seeing them gone is like 2 steps closer to the goal! I'll have my first small one paid off next week! I can't wait!

 

[Laxmom]

Well, it's been a rough couple of weeks. We suffered a loss. My father in law passed away suddenly on Feb. 1. To add to the emotional pain we had to travel to the funeral and pay for hotel for us and DS and DDIL and food. They are just not in a position to do that on their own yet. He is in school and they both work nonprofit jobs. I know that is what an emergency fund is for but now I have to repay that fund before starting on the debt again. I'm just really depressed right now and the debt isn't helping.

I did get a 0% offer from a cc that I have no balance on so I am going to transfer all to that. That will help. Thanks for letting me vent. This is a prime example of preparing for the unexpected at least financially. Be sure to have that emergency fund, guys!

 

[rebecca06261]

Well, it's been a rough couple of weeks. We suffered a loss. My father in law passed away suddenly on Feb. 1. To add to the emotional pain we had to travel to the funeral and pay for hotel for us and DS and DDIL and food. They are just not in a position to do that on their own yet. He is in school and they both work nonprofit jobs. I know that is what an emergency fund is for but now I have to repay that fund before starting on the debt again. I'm just really depressed right now and the debt isn't helping.

I did get a 0% offer from a cc that I have no balance on so I am going to transfer all to that. That will help. Thanks for letting me vent. This is a prime example of preparing for the unexpected at least financially. Be sure to have that emergency fund, guys!

I'm sorry for your loss

 

[RayJay]

Everyone,

Just a little inspiration for you all, imagine getting your income tax as I just did and also that company profit sharing and not having to put it towards debt.

This is what we always did while we were getting out, and boy did it hurt to have to put it towards past purchases. Flash forward to today where now the dilema is put it in the college funds, go to Disney, buy a Home theater, or maybe a pool. My point is "YOU CAN DO IT" and what waits for you on the other side is hard to describe.

It's the best feeling and once you get there and you'll swear to never go back. You sleep better a night and life is just not as stressful, don't let anyone tell you you need something before you can get it for CASH SAVED. It can be done and many are doing it.

Please help yourselves and your families, as tough as times are you can still have things and shop, once you do it with cash again you will be walking on air.

Good luck to all of you and stay focused. I post on these threads because I never want to forget what it was like, I feel your pain as I read many peoples posts.

I just wanted to say Good Job and Keep going, it's coming.

RayJay

 

[Robert 31320]

Well, it's been a rough couple of weeks. We suffered a loss. My father in law passed away suddenly on Feb. 1. To add to the emotional pain we had to travel to the funeral and pay for hotel for us and DS and DDIL and food. They are just not in a position to do that on their own yet. He is in school and they both work nonprofit jobs. I know that is what an emergency fund is for but now I have to repay that fund before starting on the debt again. I'm just really depressed right now and the debt isn't helping.

I did get a 0% offer from a cc that I have no balance on so I am going to transfer all to that. That will help. Thanks for letting me vent. This is a prime example of preparing for the unexpected at least financially. Be sure to have that emergency fund, guys!

Sorry to hear of your loss.

Don't be discouraged by this unexpected cost. Use it as a motivating factor to do even better.

 

[WDWMagicNic]

Laxmom-I'm sorry to hear of your loss as well. Thank you for taking the time to share because it really does make us realize why we are trying so hard. The emergency fund is incredibly important and by having something (anything) in place is better than having nothing to fall back on except the credit cards. It's a stressful time, but be strong and be sure to come back here often for the inspiration to get back on track when you are ready.

 

[Laxmom]

Thanks for the words of encouragement. Today is a better day. The other day was rough. On top of the expenses we encurred, I found out that my job does not pay funeral leave. Three days. Oh well. Nothing I can do about that for the time being.

Anyway, got my credit balances transferred so now I can put all the money I would have sent the 3 cc's to the one and have no interest. It should be paid off by Christmas. At least that is my goal. I've been reading on other posts about cc companies raising interest rates to 20 something percent. Scary stuff.

 

[Robert 31320]

Another CC bites the dust!!! Mailed off payment in full today with a letter to close the account!!! NEXT....

 

[WDWMagicNic]

Well, yesterday was a productive day and a step forward in debt reduction. I paid off a bill about three months early. This was good news because it was for something we bought on 12-month free financing. I wanted to make sure it was paid so we didn't have to pay the mounting finance charges that would have went into effect should we have been 30 seconds late. What a relief!

I also took time to go through my bathroom closets to clean and organize them. I was amazed how many travel soaps and shampoos I found as well as some extra toothpaste, etc. I felt like these were all little bonuses as I won't have to purchase these items for at least a month. I am motivated now to go through my pantry and some junk drawers to find useful stuff that I'd forgotten about!