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Knocking down more debt

February 5th, 2009 at 05:19 am

Well another two weeks gone by and more payroll thrown on top of the debt mountain! I ended up having to pay some sizable expenses like our propane gas bill ($1400 for about 6 months) but I was still able to wriggle out nearly $3000 to the debt load. I love the fact that Card 2 which 9 months ago was nearly $32000 is now around 7k. We really are making some headway and soon there will be just one to pay off! I'm so excited to see the progress but I really get antsy when a day goes by and I can't put more money on this thing. I guess I still need to learn patience is a virtue. Smile

Anyhow here we go:

Debt Tracker (02/05/09)
Card 1: $40475.55 (8.99)
Card 2: $7170.00 (7.99)
Total: $47645.55

For a frame of reference we started at $110,000 worth of credit card debt on May 1st, 2008. Nine months later and we've knocked out nearly $63,000 worth of the ugly thing! One small step for my family...one giant leap for getting out of debt!

6 Responses to “Knocking down more debt”

  1. mom-sense Says:


    "Wow" is all I have to say. Amazing what money can do for us when we make better choices, isn't it? Keep going! Awesome!

  2. Chalatenango Says:

    That's great.
    And I though I was deep in debt with 18K.
    Well, I am working on an agreesive plan to pay down mine by making at least $500.00 principal payments. (This plan leads me to beleive that I will be debt free in 36 months).

    Perhaps some tax return money or anything extra that comes into my hands will also go towards this and help reduce the amount of time it will take me to takle my debt.

    Chico

    http://chico.savingadvice.com
    http://www.on-my-way-up.com

  3. mooshocker Says:

    Nothing I type will due justice to how proud I am of you! God bless.

  4. Ima saver Says:

    That's great!! good work!!

  5. ceejay74 Says:

    Wow, well over halfway there. Keep it up!

  6. I-78 Commute Says:

    Thanks guys & gals!!! You're definately my support line when I start to get "spending fever." I can't wait to see the point where I no longer have a need for the debt tracker!

    Chico that sounds like a great plan. Just keep trying to wiggle out as much extra $ as you can and you'll knock it out faster than you think. Good luck!

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