12 of 14 paid off -- ALMOST THERE!!!

[Preston]

We've hit the point of being 86% out of credit card debt -- just paid the 12th of 14 cards we had piled up over the years. Wow. That is progress. Starting point around $42000 now we're down to less than $8000.

This paycheck made a BIG dent -- we both have been picking up as much overtime as possible -- normally our combined paychecks will bring in roughly $1600.. This period's checks totaled almost $2700!!!!

I'm already ahead on the mortgage (one payment so far) and the other debts are lined up once the credit cards are wiped out. Instead of putting the money toward other debts I'm putting an extra $50 toward the mortgage every month - small enough to not knock my debt reduction out of alignment but big enough to make a difference over the long term.

Re-did my debt reduction plan in June and I'm already at the point I budgeted to be at the end of September. It's a good feeling. My wife is getting into this whole debt reduction thing -- especially since I loaded up quicken and showed her the progress we've made since I really started to concentrate on what we were doing. She's not as intense as I am about it but she is doing her part picking up overtime and the progress is paying off.

[Debbie-cat]

Wow, congratuations Preston!!! That is awesome!

[Luckybustert]

Congratulations Preston! That's GREAT progress you're making!!

[ladytoysdream]

That's VERY GOOD progress
Thank's for sharing.

Now what are your plans for the future ?
So something like this does not happen again.
Basically what have you learned ?
See this is your teaching moment....you can help other people.

Years ago, when we put our doublewide up, hubby wanted the garage put up and other things done. We borrowed roughly $ 10,000 on credit card debt. All for things we needed here. We tore down a old barn and built our own garage for the amount of $ 3500 finished. We did the work ourselves and a little help from our kids. After a bit, the credit cards got hard to keep up with. We ended up redoing our mortgage so we could pay off the credit cards. I told him....never again are we going that route. And we haven't.
Our only plastic card is one attached to our checking account.....so it is OUR money we spend whenever I pull that card out. Our mortagage was paid off just under 14 years. We do have a current fixed rate , fixed payment home equity loan but that was for the outside wood furnace we put in last year. I hope to have that paid off early also.

Good luck to you....you're doing good

[Mom23boys]

:high5: That is awesome! You and your wife are very serious about knocking out your debt and before you know it you will be debt free!!

[annymoll]

Preston this is wonderful.I feel happy for you, and with you. Great job.

[pinetree]

Congratulations! That a huge dent, keep it going, soon you will be debt free, and that has got to feel so good!

[frugalfranny]

Way to go Preston. And working as a team always helps too.

You are close.......soon it will happen.

[larabelle]

Fantastic!!!

[Surilda]

What an inspiration you and your wife are!

Your journey is almost over.

Thanks so much for sharing!

[Michelle68]

Good for both of you. Doesn't it feel awesome? We're also making extra payments on our mortgage and hope to have it paid off several years early.

[Palooka]

Great job and a great feeling.

[craftypam]

GREAT Job!!!!!!!!!!!

[BigTony]

That helps to hear of other people knocking out thier debt, Way to go !!!!

[mauimagic]

Mahalo for sharing and inspiring us!! Congratulations for making a plan and sticking to it!!