Pay off our debt

We have paid off almost $7,000 in debt since January!

We paid off one of our student loans today! We have a credit card, home equity line of credit and an auto loan left. YAY, progress!!!

We have $1000 saved in an emergency fund. Since January 1st, we have paid off $3570.08 of our $37,000 of debt.

OMG!!!! DH just called and let me know that he will be getting a bonus this year (there were no bonuses 2 years ago and we were thinking there may not be any this year)! When they get a bonus, he gets 10% of his salary. The announcement today was that *YES, there will be bonuses given out at 157% of your normal bonus amount!!! *

I am so excited I am shaking!! We will be able to have BS1 done, all of our debt but our HELOC and car done by March, plus fix DH’s truck and put new tires on it!

We have slashed the budget and will be using cash envelopes beginning with our next paycheck! I am making so much stuff from scratch (breads, yogurt, laundry soap, cleaning supplies), and we are really limiting our driving (difficult in the ‘burbs). We stopped contributing to the 401K (temporarily) so that we have enough to really make a difference in our $37,000 of debt!

We paid off one 10k loan and the other is under 3k now..woohoo..we are getting there!

Save more….spend less….make more….pay off debt.

love to pay off my debt i have a baby on the way and i’m in the army and i’m trying to pay off my debt i’m at around $40,000 in debt but $30,000 is case i bought a new SUV for my wife cuz of the baby but it looks like when i get so close to paying it all off “BAM” i need to go spend more then i make again.

www.myspace.com/kroppy04

So, we sold off a few stocks to pay off another credit card….this one has a whopping $6000 balace! Once we get the check from our brokerage this one will be gone. Two more big ones after this and we’ll be down to just our vehicles and mortgage. Our savings is still crap and we are still broke as soon as we get paid….but hey….we’ve got our faith, our health and our beautiful babies!!!

I quit my job almost a year and a half ago to stay at home with our brand new (and first) baby. To our surprise baby #2 came only 13 months later. So, now we’re minus my $40K+ income and we are now paying $700 per month out of pocket for health insurance that we didn’t pay when I was working(I have med. issues). During this time our savings has been depleted to what I consider nothing and our credit card debt has increased. With the costs of childcare it’s not worth me even attempting to go back to work.
We attended a financial seminar last week and we cut up all of our credit cards when we got home. Our plan is to use the “snowball” effect to pay off these debts (everything minus our house and cars). My husband and I are on fire about this and I hope we can maintain our enthusiasm. I paid off two store cards with small balances this week and it felt good, I’m hoping to pay off one more at the end of the month and then we will start tackling the four monsters (three with over $3500 on them and one with WAY more than that).
I hope this is possible…...