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Raises and bonuses

September 17th, 2008 at 12:58 pm

OK well I haven't updated this in a bit but I will now. My wife found out today she is getting a $20,000 raise from $60k to $80k. Obviously we're thrilled. Not only that but I found out I'll be getting $3334 in bonus money every four weeks starting in late September and going through November ($10,000 total) so we will be able to really kill the debt AND have some money for the holidays.

I wanted to update the tracker because I was able to put close to $10,000 on Card 3 while I was away. Here are the latest numbers hot off the press:

Debt tracker 07/28/08
Card 1: $42378.65 (8.99%)
Card 2: $29891.21 (8.99%)
Card 3: $5711.32 (10.99%)

Card 3 has a very short life to live! Adding her income boost and the bonus money I'll be able to pay off Card 3 and make a serious dent in Card 2 by the beginning of October. Not only that but we have THREE pay periods in October so I can pay the mortgage on the 29th and use the paydays from the 1st and the 15th AND the bonus money in October ALL on paying off these balances.

This is going to be one sweet 4th quarter! I thought I'd share the love since this place has been so good to me for so long. I'm glad we're finally getting a hold of this thing!

8 Responses to “Raises and bonuses”

  1. dmontngrey Says:

    Wow, GREAT news!

  2. fruitbowlk Says:

    How exciting.

  3. Petunia Says:

    Wow! Good for you and your DW. You've both been working hard and it shows!

  4. creditcardfree Says:

    Excellent job!!

  5. fern Says:

    That's fantastic! Geez, what kind of business are you guys in, anyway?

  6. I-78 Commute Says:

    Thanks thanks thanks guys and gals! fern we're in the audio-visual systems integration business (on a large scale...well at least for us. Revenue wise we're in the 20-25 million/year range.) We have ownership in the company (it's private) and the sales and margins have been really good this year so the extra money has been coming through in waves. I'm an IT guy and the wife runs the marketing dept and also is kind of the den mother (we have 75 employees total.) Business has been around since the early 1950's so it's pretty stable. Well that's the quick snapshot...thanks everyone and we are really staying motivated to get all this dumb debt paid off. I can't wait until the day where I will not have a debt reduction tracker category anymore!

  7. merch Says:

    Nice work. Keep the focus.

  8. boomeyers Says:

    How wonderful!! I can't wait to see your numbers go to 0!! I hope you will still visit us as you make new savings goals to achieve!!

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