How I did it: track every penny... use excel... if you need a loan from your savings, pay yourself back with interested. Sorry everyone, but every penny from tax refunds, bonus', etc., goes into doing this. It can be very hard.

I would take a little (under $500) from an annual bonus to buy myself one thing (last year it was an ipod touch) this year it was zero.

Live on 50% of your take home pay. I know it sounds impossible, but I've done it for years.

Lessons & tips: I'm going to be completely honest. It's not easy. I just wanted to be debt free. Vacations were missed (I would likely do one per year - but nothing crazy - the rest of my vacation time was "staycations". You have to be frugal - but be careful that doesn't become "cheap" there is a HUGE difference.

Resources: excel

Feb 28, 2009, 05:16AM PST | 0 comments | 4 cheers