Eliminate my debt

ZERO OWED

Creation of the nest egg. Ok-let’s see how fast I can do this!!!

By April, I will only have one school loan and the car loan. The goal is to make those disappear within two years if not sooner. Before that plan gets serious attention, I need to create a strong nest egg. Debt arises when one is unable to support themselves within their means.

I need to expand my means.

Just so many extra expenses…not paying anything off now…at least not anything extra (over and above normal monthly payments)...hopefully can start pushing some extra cash towards this soon!

My credit card really took a knock this christmas. I need to pay it of and want to start using it as a savings account. Big debt problem is car and house!

I will not incur any MORE debt. One step at a time right?

I just tallied up my credit card bills—I’m doomed.

but that’s not something you can work towards, the element of luck is too much of a factor. So I have to eliminate my debt the realistic way, by being sensible! eek

after my first child was born, we were a little overwhelmed with hospital bills, etc. I found the Dave Ramsey program on the radio and we started his snowball program to eliminate debt.

what you do is list your debts that can be paid off (not utilities) in descending order

say my smallest debt is $100 and I’ve been paying 50 per month on it. my next smallest is 275 and I’ve been paying 40 per month on it.

I pay off my 100 one, then add the 50 per month that I was paying for debt #1 to debt #2. Im now paying 90 per month to debt #2 until it’s paid off, then Im adding 90 to whatever Im paying on debt #3. so it’s like a snowball, getting bigger and bigger and you’re never paying out anymore than you were in the first place. it worked for us. we paid off the house in 3 years instead of 15, saves thousands in interest.

make yourself a list. you’ll see what I mean

it’s not even that much but it is sucking the life out of me