Do you know what you owe?

[Sara Noel]

When we bought our house last April, we stared what we owed right in the face. I was happy that we had done so much hard work to get to where we are today. I'm proud of our finances. It definitely could be better, but it's manageable.

I'll be taking a close look again at our bills, so that I can set up a snowball plan on what I have left. (besides the mortgage)

When's the last time you wrote it all down and faced your debt and tried to really make any changes you could?

[sunshine]

We do a quarterly review of our finances. Budget is done each month - to the penny (and prayed over greatly)

[Michelle]

Right now just the car and mortgage...it's depressing since our car is a lease (don't even get me started on that one, and no flames please), and we'll need to start all over 18 mos from now.

So....I'm going to really put some serious cash into our savings now that our CC's are gone and we are a bit better off financially.

[homesteadmamma]

Yes I know exactly what we owe, I have it in my siggy. Its right down to the penny. Its for our van and a huge tax bill (don't get me started on that one).

We don't have a mortgage nor do we have cc debt so every penny extra we get this year is going on those 2 debts. The van payment is the largest so I want to pay that off sooner than the tax bill, even though there is no interest on the van.

Great thread Sara. Its always good to find out exactly what you owe come the first of the year.

[Mom23boys]

I wish I did. I have never sat down and looked at all the totals with the interest and all. I need to sit down and get it all together so I will know exactly what I am trying to pay off.

[doodlebug]

Yep, I know exactly what we owe. We have about 4 years left on an equity loan and around $700 on a credit card. The credit card will be paid off in the next couple months and we will never again have an unpaid balance on a credit card! The equity loan I am hoping we can pay off at least 2 years early but it will take some penny-pinching to do it. I would so much like to be debt free.

[PrairieRose]

I know exactly what we owe and it grows smaller each and every month. We've paid down a huge amount of debt in the past 3 years and in about 2 more we'll be debt free (including our home and dh's warehouse, office and carwash). I live for the day!

[lucy979]

Yes, I do. We sat down and made a plan about 2 1/2 years ago to pay everything off. We have come so far and we are never going to be that much in debt again!

[Darlene]

Yes, we owe about 3-4 tho on the house and have no car payments. All three vehicles are well used but paid for.
Do have the car, homeowners & flood insurances & utilities and reg living expences.
Good luck to all on paying down debt.

[frugalmel]

Yes I do. I have totaled it all up. We are getting ahold of our money this year. We are loosely following Mary Hunt's Debt Proof Living We are working on paying off about $8,000 in CC debt (down from $11k). I WILL NOT keep a balance again!

Good luck everyone with your goals and plans.

[AmyBoz]

We only have a debt on the van, which has two more years on it and the house, which I don't even want to think about. Other than that, debt free.

[slowtypinwoman]

Oy Vey! I'm scared to look. I know I should. It's one of those nessisary evils, Like a pap.

[melina123]

Yes, I know excatly what we owe and it is frustratiing!!!! Our car completely died on us and we couldn't claim DD last year on taxes because we were not residents yet...so yeah....ut'll be all taken care of as of april 2004 but in the mean time we are dollar stretching to the hilt! It's sad because DH makes a good salary but we are young and JUST starting out and had a baby right after marriage and moved to a different country. It all wasn't the best financail choice but soon enough we'll land on our feet. We don't have any CC's debt, no car payments. We are just saving to make our taxes this year and after that it'll be saving to fix up the car that needs repair.

It'll all be alright. We know exactly what we owe to the IRS as I'm sure they do too.

[kpnskendra]

We sorta know in our heads, but don't have it on paper. We are going to be meeting with a Financial Counselor from our church to help us figure out a GREAT budget. I am also reading Dave Ramsey's book, Financial Peace and hope to implement some of his ideas into our financial life this year. We both have Student Loans that are in deferment right now. We don't have any credit card debt or car payment and we currently rent, so no house payment! We do need to get our act going and get things on paper!!

[gkp1031]

I know exactly what we owe--down to the penny. We only have 1 car and 1 credit card to pay off. I'm putting any and all extra $$ into our emergency fund, savings account for our house and our retirement funds.