How is your debt reduction coming along?
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  1. #1
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    Question How is your debt reduction coming along?

    Slowly, very slowly.

    Man I want that debt to disappear but I guess I'll need to be patient due to finances.

    How are you doing on your debt?

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    Moderator aka AmyBob AmyBoz's Avatar
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    It's coming, but it feels like it's taking forever. We had sent up some great goals at the beginning of the year, but already, our April goal of redoing the foyer floor (which is like a deathtrap) is going to have to be moved.

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    I was blessed with some over-time (mixed blessing cuz I HATE OT!) so my debt reduction has gone way better than expected.

    In Sept '04 I had $5500 on a 0% interest till July of '05 card. This was for all the new furniture and household things I acquired since my seperation. I had planned on paying all the way till July but after this #$%^$# OT, I'm down to $500 that I hope to pay off in two more weeks.

    I have no savings mind you, but I'll have no debt and I'll be able to start saving two weeks after that.

    I'm psyched, for sure.

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  5. #4
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    It's been slow and steady for me. UGH!

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    Registered User britbunny's Avatar
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    Yeah slow and steady, but as I've said before all our debts are now fixed term (no CC's thankfully) so each month we are a step closer.

    Next month is the final payment of one debt which will be the first milestone since we started taking debt repayment seriously.

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    Its going Nowhere. I am so frustrated.

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    Registered User seadream's Avatar
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    Very slow.

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    Registered User PrairieRose's Avatar
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    Our's is going and I can see progress but not enough, quickly enough. I'm so ready to be completely debt free. Staying focused though....that's the main thing.

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    It is a slow process but I finally feel like I have a handle on it. We are actually living within our means right now. Which for me means that we can make it through the month with all the bills paid, more than the minimum being paid on the highest interest credit card, minumum on the other two and money left over at each pay cheque.

    And all this was done with the help of everyone here at FV! Thank you all

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    Registered User SCDowney's Avatar
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    Frustrating! I am meeting my goal, but hadn't taken into consideration two trips "outside" that I don't have the cash for. I can pay them off within 9 months. All my old, outstanding cc debt will still be paid off by the end of June, but I had hoped to not have anything on my cc at that point in time!

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    A little slower than I like. As I posted in another thread we've added some new debt (medical, couldn't be helped) so that's slowing things down some. DH has been working OT when he can (he's working the midnight shift tonight in fact) and it's a huge help, but I can't help but wish we could use the extra on the other debt.

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    Registered User Mom23boys's Avatar
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    It is going slow, but at least it is going. I am trying to look at the positive side instead of the negative.

    I was able to pay off one of the medical bills. I had 3, now down to 2. One doesn't like much more, but one will take more time. I also only owe 4 more payments on my car...April, May, June, and 1/2 in July!

    So it is slow, but moving right along.

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    Plodding along. We are getting ready to adjust our budget come June when dh gets more in pay. I have to figure out how to pay down the CC's and save some $ for a motorcycle for him at the same time.

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    slowly but surely...lol.... We have a small balance left on the "family" credit card. My other loan has a balance of $600 which I hope to get paid off in the next few months.

    We do have a good amount in savings though so that is good.

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    Slower than normal around here, but slow is better than nothing.

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