Still on the snowball track

**Cricketlegs** · 08-02-2007, 02:13 AM

Well,I used the website on Snowballing and made my plans last month. The thing is it STARTS today but I have made 2 payments already so I am already UP--WHOOP WHOOP!

Tonight I made my official first payment on getting rid of my one and only credit card. In 5 days I shall have a high $2000 balance but it will no longer be a LOW $3000~~~can I get a WHOOP WHOOP~~~?

My plan--$400 a month ---3 payments @$135 a month and I am done in9 months!

When Ebay picks up and I go back to my painting I will be using that EXTRA towards the balance too so it could be paid off early.

I am also paying an additional $25 a month on my car

(which will be my next snowball)to get the balance down a little more in the next 9 months to save on interest. I am right about $10,300 for a car I haven't owned 2 years yet so I can know that I can knock that out FAST at $735 a month when I snowball and of course the balance will be lower once I start.

That would leave us with the house and college for our dds.

Emily is in college, Whitney goes in 2008 and Sarah is just 11.

I also added $100 to our EF tonight. I want to add $100 a month at the least.

Gosh this is FUN to get these things DONE.

**Cricketlegs** · 08-02-2007, 02:18 AM

Oh, and by the way, my debt at minimum payment would take a whooping SIXTY THREE ~~~yes 63!~~~months to pay and my interest would be ALMOST $3000.

The bank said that if we continue with paying like we have they will lower or interest rate so another WHOOP WHOOP!

**frugalfarmwife** · 08-02-2007, 07:27 AM

CONGRATS!!! Doesn't it feel great to get a plan and get it moving, it's funny but I get enthuastic about making those extra payments, hubby couldn't really figure it out until I showed him how much I've shortened the mortgage already

And before you know it that credit card will be buh bye!!

kj

**FrugalMomof3** · 08-02-2007, 08:24 AM

Wow that's great, keep up the awesome work... WHOOP WHOOP

**PrairieRose** · 08-02-2007, 09:06 AM

It is very exciting, isn't it? I'm thrilled for ya, it sure helps to stay motivated if you go over the numbers often.

**Jenna** · 08-02-2007, 11:50 AM

I notice your efund is fully funded.... does that mean you have 3-6 months of expenses?

$400 x 9 months = $3600 in payments on the c/c

Would it be a viable option for you to take some of your efund and use it for the c/c?

**babymakes5** · 08-02-2007, 12:15 PM

That's great! I love hearing success stories, it helps keep me on track!

**Cricketlegs** · 08-02-2007, 02:14 PM

Originally Posted by Jenna

I notice your efund is fully funded.... does that mean you have 3-6 months of expenses?

$400 x 9 months = $3600 in payments on the c/c

Would it be a viable option for you to take some of your efund and use it for the c/c?

No, and I should amend that in my signature. It is misleading. I had a short term goal of just $1000 but coming from a family that NEVER had any real savings having that $1000 felt really great.

no, 6 months FULLY funded would be$18,000! Nope not there yet.LOL

I am at this point adding $100 a month 2 it but like I posted, when I restart my Ebay I hope to put some on the credit card and if I am able I can put some extra in savings too.

My dh salary money is what has everything taken out of--401k, child support, dry cleaning,charity,etc.

His Commision is "the big" money and is never the same. Some months I have $200-$300 more or less than the last month so I always figure it at the lowest.

I usually have a little extra to throw at these bedts and savings.

Boy I wish I did have $18,000 in my savings account but I am working on it.

**Jenna** · 08-02-2007, 11:09 PM

Originally Posted by Cricketlegs

Boy I wish I did have $18,000 in my savings account but I am working on it.

Yeah, I wish I had $1k in an e-fund.... and a few $k in a house downpayment fund.

Shoot, while we're wishin' - I wish we'd both multi-million lotteries w/the good sense/luck to spend it wisely.

**Buckeye5** · 08-03-2007, 05:07 PM

I hear you girlfriend!!! Keep up the good work!!

**sdrjeolsen** · 08-03-2007, 05:27 PM

Whoop! Whoop!

Way to go Cricketlegs! It seems to happen, when you get on a plan, extra blessings come your way to make the plan go faster, when you don't, Murphy is waiting in the wings. Congrats on being ahead of the plan! Keep up the awesome job you are doing, you are inspiring me to keep plugging along