Sunday, October 31, 2010
A Momentus Day: It's Been A Year
Last year this very day I stood over my garbage can and cut up my credit cards. My safety net was gone, or so I thought. I never looked back and am happy to report that I have not used that credit card since that day (uh, kind of hard to use it all chopped up!). We have not added any new debt to that card, but unfortunately we will have to take on more debt starting November 1st. We have added $5780 from the sewer going in in our neighborhood this summer. That won't be around long, as we anticipated this and have about half saved. So, technically, while it's new debt, we didn't create it by our crappy choices with money:).
Here's what we've done the past year:
Total Starting Debt: $65,708.23
Total Paid OFF in One Year:$ 11,611.31
Total Remaining: $54,096.92
Debt Free Date: December 2015
We fully anticipate to not take that long to pay it all off. If you look at our snowball, you'll see that our car being paid off is the tipping point for us. We really start picking up steam as we'll have more to throw at it. I'd really like to reflect more on this past year, but I need to get my tired trick-or-treating kiddos in bed!