Pages

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!

4 comments:

  1. So proud of you and Mike. Some think you are making sacrifices, but you are actually doing better than before.. less stress, more food and a unified front.

    ReplyDelete
  2. True, true! I don't worry about the end of the month any more. Everything's planned out and accounted for. A much better way to live.

    ReplyDelete
  3. Yay!! I can't believe it's been a whole year already! And, you are so right that once you get that $400 back from the car payment you'll really be able to roll with getting the other stuff paid down. So you must be over halfway done with your car though, right? CB

    ReplyDelete
  4. We are way more than half way done with the car! This month we broke the $2000 point. We both work the SAT tomorrow, so more to dump on debt!

    ReplyDelete