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Post by tanya on Jan 4, 2011 10:04:10 GMT -5
It's time to get our family out of debt!!!!! We have about 7,500 worth of loans that we have decided to work on paying off this year!! I have proven to myself that I can save the money so I am determined to do it!!! I am starting a new Disney Fund also and will be taking half of what I save each week to go to that fund.
I plan on saving enough into the fund that would allow me to make an extra payment on the lowest loan balance and just doing it!!
Balance on lowest loan is $2000.00 and I am starting with $12.00 and the payment is $67.00 a month.
Our goal is to have them paid off by the end of the year!!!!
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ddrie
New Member
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Post by ddrie on Jan 5, 2011 22:56:06 GMT -5
You can do it!! Keep positive and just stick with it! Our family is out of debt now and it is a great feeling! Now I feel no guilt if I want a Disney vacation, the feeling is priceless! Best of luck to you!!
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Post by tanya on Jan 12, 2011 13:14:42 GMT -5
Due to the weather conditions I finally got to the bank today with last weeks deposit. Was able to deposit $22.50 into debt free fund. All of it from coupon savings!
Total in fund - $34.50
We also decide to switch gears on which loan to pay off first. The lowest one is actually tacked onto our checking account and we opted not to close it. The only reason it has a balance now it because of us having to help my in-laws keep from losing their house. So now we are going to focus on a personal loan with a balance of $2400. The payment on it $75 a month.
$40.50 to go to make the first extra payment!!
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Post by tanya on Jan 18, 2011 9:26:52 GMT -5
Still calculating this loan stuff wrong. I tend to forget that we make some of our loan payments bi-weekly. So instead of the payment being $75 it is actually $150. I am still going to make just $75 payments at a time.
Added $24 last week. $10 from DD into savings, $11.50 from coupons, and $2.50 from a rebate.
New total - $58.50
$16.50 to go for that first extra half payment.
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Post by tanya on Jan 19, 2011 8:46:05 GMT -5
Adding $3 today from a rebate. New total of $61.50!! $13.50 to go!!
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Post by mollybug2 on Jan 20, 2011 10:22:09 GMT -5
Great job! We paid off our home equity loan last year - we had our kitchen remodeled three years ago. It felt SO good to write the last check and now to not have to worry about that bill! You will feel amazing when this is paid off!!!
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Post by tanya on Jan 24, 2011 9:07:31 GMT -5
Adding $5 to the fund from money left over from a youth trip to Chillipepper this past weekend.
New total of $66.50! Less than $10 to go now!
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Post by breezylabree on Jan 27, 2011 18:45:10 GMT -5
Great Job! My husband and I paid off $65,000 worth of debt (credit cards & Home equity loan) in 2 and 1/2 years by snowballing the debt, using cash only and an envelope system, budgeting, couponing, etc. It was a long hard road but worth it! I am happy to say that we are debt free with the exception of our mortgage! I know you can do it and you will love the feeling once you have accomplished it!!! Keep up the Great work and don't lose sight of your goal!
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Post by tanya on Jan 28, 2011 14:08:51 GMT -5
Adding $25 to the debt free fund today!!! $10 from bi-weekly payroll deduction and $15 from loose change! We have enough now to make that first half payment. I know what I will be doing monday!
New total of $91.50-$75=16.50
$75-$91.50= 58.50 to go to reach next payment!!
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Post by tanya on Feb 16, 2011 10:17:25 GMT -5
AWESOME NEWS!!! I got a refund from school from unused pell grant money!!! Since it is a grant and will not have to be paid back I am using it to pay off one of our loans!!!!! I am excited!!!!! Now we are deciding which one to pay off!!!!
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Post by mollybug2 on Feb 18, 2011 16:36:59 GMT -5
Hooray! Congrats on being able to pay off one of the loans!
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Post by connie on Feb 21, 2011 0:42:45 GMT -5
Great Job! My husband and I paid off $65,000 worth of debt (credit cards & Home equity loan) in 2 and 1/2 years by snowballing the debt, using cash only and an envelope system, budgeting, couponing, etc. It was a long hard road but worth it! I am happy to say that we are debt free with the exception of our mortgage! I know you can do it and you will love the feeling once you have accomplished it!!! Keep up the Great work and don't lose sight of your goal! That is amazing!!! |
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Post by connie on Feb 21, 2011 0:43:44 GMT -5
AWESOME NEWS!!! I got a refund from school from unused pell grant money!!! Since it is a grant and will not have to be paid back I am using it to pay off one of our loans!!!!! I am excited!!!!! Now we are deciding which one to pay off!!!! Great News Congrats!! |
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Post by tanya on Mar 1, 2011 14:30:42 GMT -5
Made extra payments on two loans on Friday of $75 each!!! We are working hard to have them paid off by the end of the year!!!!!
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Post by mollybug2 on Mar 2, 2011 10:51:25 GMT -5
Great job!!
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