Wednesday, February 20, 2013

My Desire to be Debt Free

I have consistently been in debt for the last 12 years. Mostly vehicle loans and credit cards, stupid decisions! So a few years ago I decided I was done with this mess! This debt is out of control! It never got bad, never even half of the national average but bad enough that it made me angry! So when Todd became a student, the year Ryan was born (actually within a month of Ryan being born) I decided that if it hadn't been for the debt, maybe the it wouldn't be such a blow when someone is laid off, forced to take medical leave, or any other emergency that may come up! So for the last 2-3 years I've been working on being debt free. It's been a struggle (especially with a husband who's a student in a college that's an hour away). So we made a plan and we stuck to it. Until we didn't or couldn't. Buying the suburban right in the middle of this great plan of mine hurt. set us back. But that's ok, we readjusted our spending AGAIN and set a new plan. One we will stick with. and soon we will be debt free (except for our mortgage). We paid off the credit cards and most of the blazer with our tax return, now we're snowballing everything we have at the remaining balance on the Blazer, taking the monthly payments that we were putting towards the credit cards and applying them to the Blazer. We will then take the pell grant Todd should be receiving and putting that towards the Suburban. and then snowballing the blazer and credit card payment towards the suburban. and May 2 we SHOULD be 100% debt free save the mortgage! Paying off $16,000 of debt in 4 months! I will try to update again in mid-May to let you know if we made it!