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12-01-2009, 01:40 PM #1Registered User
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Snoopy Dance! Debt Free in the OC
Hello all...Here is my story on getting my resistant Hubby on Board with the Baby Steps:
My family is finally debt-free except for the house in the OC. It took 22 months to pay off about $75,000. We are pretty much house poor since our mortgage is high and the equity is upside down. It is a HUGE turn around because not only are debt free - but we used to spend $30k more a year than we were making!!! In getting debt-free we also cash flowed huge medical bills and a wedding. We sold a timeshare and other random stuff. We have 7 kids of all ages and 5 grandkids so we are so excited to turn the energy into positive cash flow.
It took years to get my husband on board. Two years ago I bought myself Financial Peace University for Christmas and he watched it with me.
I also made a debt-chain for a visual. I made it out of construction paper and each link on the chain represented $1k. Hubby cried when he saw it! We hung it in the bedroom on a door hook and cut the links as we went along. At first it was dragging on the ground. Sometimes we had the kids help us cut the links too, they were very supportive.
When my husband came on board the magic started to happen. Now we are a team. He loves to save (instead of just spending)
Thanks Dave Ramsey and Frugal Village for all the ideas to save!
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12-01-2009, 01:49 PM #2Master Dollar Stretcher
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Love the idea of a debt chain! What a cool visual to use!!
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 
June wasted money: $0 
June grocery: $0/400
2012 LAPAW: 8.8/20 
2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 
Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) 
(2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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12-01-2009, 01:53 PM #3Registered User
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I am happy for you. That debt chain idea sounds cool!! I wonder I could do that can help me. Hmmmmm............thinking!!
Step 1 $207/1500
Step 2 Student loan $160.00 monthly
Schewels paid
Step 3 $252/$15000
Step 4
Step 5 1 child in college graduates 12/12
2 child $50.00
Step 6 $70,761/$93,000
Step 7 Build wealth & give.
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12-01-2009, 01:56 PM #4Registered User
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I love the snoopy dance. Snoopy is my favorite!!
I wish there was one of those smiley face icons that was snoopy dancing.
Good job!!Step 1 $207/1500
Step 2 Student loan $160.00 monthly
Schewels paid
Step 3 $252/$15000
Step 4
Step 5 1 child in college graduates 12/12
2 child $50.00
Step 6 $70,761/$93,000
Step 7 Build wealth & give.
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12-01-2009, 01:58 PM #5Rude and Vile Master
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That's fantastic! What a great story!!!
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
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12-01-2009, 05:23 PM #6Registered User
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Great job! Congratulations!
Pine trees, with their needles pointing up to heaven, represent everlasting light and life.
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12-01-2009, 07:42 PM #7Moderator
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how wonderful, congratulations and what a creative way to get hubby on board.
The Free Spirit Saver who walks the path with Greebo.
Onboard with a modified Dave Ramsey Plan
Budget: "Every month! On paper, on purpose!"
Gardening somewhere between Zone 6b and 7a.
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12-01-2009, 07:51 PM #8Registered User
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CONGRATULATIONS!!!! Love the chain idea!!! Something you can see everyday!!!!
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12-01-2009, 08:26 PM #9Registered User
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Thank you for sharing and congrats.
Cat
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12-02-2009, 05:04 AM #10Registered User
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Congratulations! And me too, I love the debt chain idea.
Dance, Snoopy, dance!
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12-02-2009, 06:15 AM #11Registered User
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Congratulations on your success!! What a great feeling it must be!..
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12-02-2009, 07:37 AM #12Registered User
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Congrats!!
Mom to Emma, Spencer, Connor, Lily,Fletcher, Amelia and Adeline.
Mortgage $78,500/$15,200
EF 3 mo income barring
anymore emergencies
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12-02-2009, 09:38 AM #13Registered User
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Congratulations!
2012 Debt Reduction
(cc#1) Kohl's- P.I.F. (closed)!!!!
(cc#2) Chase- P.I.F. (closed) !!!!!
(cc#3) capital one(mine)- $741.37 /$731.34
(cc#4) amazon-$1,458.47 / $863.94
(cc#5) Kohl's - $606.29 / $687.16(CLOSED!)
(cc#6) capital one(His)- $615.93 /$673.97
(cc#7) CHASE (HIS)- $1,985.14 / $1,055.85
(cc#8) Lowes(His)- $3,355.71 / $2,592.42
(cc#9) Tractor Supply(his)- $3,981.05 / $3,729.95
(cc#10) Visa(mine)- $918.12 / $1,021.83(CLOSED!)
(cc#11) Home Depot(his)-$3,796.87 / $3,375.31
(cc#12) Capital One(mine)- $2,991.98 / $2,967.94
(cc#13) Micro center- $743.61 / $755.60
car pyment- $16,245.30 / $17,773.46
house pymnt- $76,973.95 / $81,360.00
$0
$14.00 EF
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12-02-2009, 08:09 PM #14Registered User
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WOW! Congratulations on being debt free!! I also love the idea of a chain to use as a visual. What a great motivator to see the debt falling off!!!
~*Michelle*~
~Wife to Rick since Dec. 19, 1986~
~Mother to Richard, 23, Chris, 21, and Dakota, 17~~Mother-in-law to Amber, wife of Richard~~Elementary Teacher~
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12-02-2009, 09:47 PM #15Registered User
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I'm thrilled for you!
I lived in OC up until 2 years ago, and it's not cheap, way to go!
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