get out of debt

Ok not sure when I posted last but here is an update on our debts..

Chase 0% – $2100
Citi 0% – $2600
Citi 9% – $7000
Visa 9% – $400
AES 6% – $1200

This does not include my student loans which equal $140k (OUCH!)

The Visa is going to be paid off next month and it will probably take us 2-3 months to pay off the AES… Then we will have only 3 left to pay… YEAH!!

We are also trying to save for a house?! How do we do this with out getting second jobs? I think I might get a seasonal job.

Julie

We have paid off $9k in debt! YEAH!!! This month alone we plan on paying $3k towards debt because I get an extra paycheck this month and my husband has made double what he normally makes! I am so excited because for the last couple of months I have been slacking on this goal.

Last month!! My husband and I were broker for the last 2 weeks. Finally, I got paid today and vowed to never do it again! I hate that feeling! It is kind of good because it forces you to NOT spend any MONEY!

This is what I wish my debt looked like. Nonexistent. But until then I will be sending $2k a month to debt (not including interest). Thank goodness I am taking advantage of (2) 0% credit cards… I also have another one of my CC’s that just sent me a 0% int deal. I am def. going to take advantage of it! I have a small SL that is $2100. I am being charged $20 a month in interest so if I transfer it I will save about $180 in interest…

My CC’s/SL are as follows:

Citi 9.99% – $7,309
Citi 0% – $4,007
Chase 0% – $1,280
Small SL 6.8%- $2,087

Total = $14,683

I plan to send min. payment to everything and pay off the chase. That way I can send 0% check to my small SL and pay it off… I will also send an extra $500 to the large citi card, So a total of $650.

Oh I can’t wait until it as all gone..

My cell phone bill was $472.00 AHHHHHHH!! That was $300 that was going towards my CC debt!! I am so pissed.

Ok so I turned 25 on May 2 and I had my Hawaiian Luau yesterday (5/3)... It was so much fun! I ended up making $275 and I got $25 g/c to Outback Steakhouse!! Woo hoo! Straight to the CC’s it goes! Actually I already booked it on my bill pay. It should be paid on Tues.

I am not sure if I am paying bills the right way. Should I be doing the Dave Ramsey’s Snowball effect (which I am not) or should I be sending a big chunk to every debt? HMM.. I am starting to contemplate my debt payoff routine. I think next month I will send the minimum to every bill except my largest CC and see what happens.

The problem is the CC has a balance of $7400 and the highest interest rate. The other 2 CC’s have a 0% interest rate and are $1400 and $4100. I also have a small SL at 6.8% and the balance is $3048. I have been sending $700 to the largest CC and $200 each to the other CC’s (So I can have them paid off before the 0% deadline). The smal SL I started sending $450.. I want to get rid of it so my credit score jumps.

What do you think? Is the Dave Ramsey’s snowball effect the right way to do it? Or should I stick to my own debt plan?

Since we had $1500 left over at the end of this month I sent an extra $500 towards debt. I will put $300 in savings on Friday and We will have about $700 left in our Checking account. I wanted to send the extra $700 to debt but my husband said I should wait until we receive our rent check (5/1), stimulous check (5/2) and my paycheck (5/8).

Oh and my B-Day is on Friday May 2. I will be 25 so I am throwing a big bash (Only $200 spent with the help of others) and I do expect to receive money. Of course, this will all be sent to debt.

My mother in law refuses to give me cash – she said it is my b-day and I deserve to do something for myself (some people just don’t understand). So, I told her to get me a gift card(I’ll buy her mother’s day present with it). hehe

Good luck to all in the month of May!!

left in our checking account and it is the 26th of the month! This never happens! Ok so I think I will hold it until May 1 until I do anything with it. You know how things tend to pop up!!

If no unexpected bills pop up I will put $300 in savings (already deposited $170)and send $700 to a CC.

I am so happy. Now I know how it feels to have money left over at the end of the month!

who want to get out of debt!! There are 8,298 members right now!! I do believe the economy has something to do with the amount of get out of debtors we have here.

Good job everyone!

It looks like we are paying down $2400 in debt this month! I am so excited!! I am going to try and put $500 into savings as well. My husband and I are trying to pay off debt and save to buy a house in less than a year. With my plan I know we can do it. He says we need at least $10k in savings before we can move. We would like to move from FL to GA, it seems as though the cost of living is much cheaper in GA.