Paid off another one!

[Brer Shay]

I know my budget board friends will understand my excitement. I just paid off my third debt within a year. I'm doing the snowball method and I just paid off a big one! I have one small loan with two more payments, then one sizeable credit card. There's light at the end of the tunnel!

It's been encouraging to me to read others doing the same thing and has really helped keep me motivated. Thanks for the help along the way!

 

[tileman]

Great to hear

 

[hanutedmansionmomma]

congrats! I should be able to say that soon, after tax refund comes. We should just have an "I paid it off" thread for everyone to celebrate as they pay things off...hey wait a minute, maybe this is it

 

[Micday]

Way to GO!!!!

 

[Mom loves Disney]

Good Job!!!

 

[Leajess99]

WAY TO GO!!!!!!!!

I have paid off a few as well and it feels so good.

 

[Lorix2]

this is a goal of mine and hope to start next month.

It must feel so good! Congrats

 

[dreamin_disney]

Congrats!!!!!!!!!!!!!!!!!!!!!!!!!

 

[gracie1]

Congrats! I still have 2 more to go, even though I'm not doing any special debt program (like dave ramsey, etc) One card does have an apr but the other is 3 years without interest so that's good. I paid one off right before christmas! And I haven't used a cc since November, which I couldn't not go out without one before! It feels nice not having one and when you make your payments you actually see the amount going down on the following statements because your not charging on it

 

[TiggerStac]

Congrats!!!

 

[MousekaMaddi]

kudos to u!! Great great job!!

 

[dnbent]

Congrats!!!!

 

[scrappingizlife]

That's awesome Congrats! If you don't mind me asking, what is the snowball method?

 

[lck33]

Way to go! Awesome!

 

[mickeymaker2003]

That's awesome Congrats! If you don't mind me asking, what is the snowball method?

The snowball method is when you put your debt in order from smallest to largest. You pay the minimums on everything except the smallest debt (which you pay as much as possible on). When the smallest bill is gone, you move on to the next one and pay everything you were paying on the smaller bill, plus the minimum on that one. As you go along, you knock off bills one a time so you have fewer to pay (and so you see progress) and then you have more money to put towards your next one.

 

[debbiecarr98]

yay for you!!! good job!!

 

[rmom50]

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[Baloosgirl23]

hip hip....hooray!!!! that's a great feeling! we started our snowball this month and I must say it's been hard for me ( I like to shop...a lot...) but know it's in my (our) best interest to pay down the debt we've built up. hopefully I will be able to post sooner rather than later that we've knocked one down too...but for now ~ cheers to you!!!!

 

[bumbershoot]

Congratulations!

 

[KAYLI'S DAD]

Good Job! We also just paid off amex 2 weeks ago about $2400 and this friday we will get to send another $3500 to our last one. Things are really moving. It is exciting to knock them out with the snowball. We made a new years resolution to pay ours off by june of this year and from looks of it we will be done by march. Keep up the excitement.