2009 Debt reduction challenge - Page 3
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  1. #31
    Registered User qsaver704's Avatar
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    OK. I stayed up late last night working on the basic game plan behind my payment schedule. (I of course hope to have extra along the way-taxes, rebates, gifts, but also may have unexpected set backs).

    I plan on living on my DH's pay and using mine to repay the debt. I only make $600 a month before taxes and tithes. Still it will help.

    I plan on taking 3 checks and paying credit ($415 a month) and use th other check(140ish) to pay tithes (60) and put in savings toward the roof.

    If I follow this plan I should have the credit card paid by Aug. 2009. Then I will put all my checks into savings. Along with the money already in there, this should be enough for a new roof by Jan. 2010. I will be using my tax return to accomplish both goals faster (need a new roof soon). I also plan on cutting regular expenses and doing as many online surveys as possible ($3 a month would help a little).

    Thanks!!Let's go everyone

  2. #32
    Registered User jestagrrrl's Avatar
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    I'm in on this one, my goals for debt reduction will be updated on my signature line, but they are as follows:

    Pay Day Loans 3 1/2 now - (1/2 will be paid off in two pays) then i'll tackle the other 3
    1st Credit Card - $3200.00
    2nd Credit Card - $2,100.00
    3rd Credit Card - $700.00
    Oil Bill - $1100.00 (been paying $100.00 a month so far)

    omg, it makes me sick just looking at the totals!!!

  3. #33
    McD
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    Debt Reduction is going to be one of my number one goals this year.

    I would like to eliminate all of the debt that I have listed as my 'bad debt' in my signature.

    I am hoping to get the credit card paid off this month. A friend of Zac's is interested in purchasing a weapon of his and if he does, that will bring the balance to about 200$. We can knock out 200$ in one month easily.

    After that, we would keep on snowballing to the Liberty. I am hoping to knock a lot of that out with the tax return.
    Then of course, it's on to the furnace, gto, then kia.

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  5. #34

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    Thanks to my lack of income and being unprepared for Christmas, we have a hole to dig out of.

    We are at about $5K worth of debt, plus the house.

    We hope to have a tax refund of significant size, due to my low income and a new baby this year.

    I want to be out of debt, other than the house, by May at the latest.

  6. #35
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    Thanks Homesteadmamma for starting this thread. I have 2 do-able goals for us!

    1. Pay off my student loan. I have 4500 euros left and have already made 4 extra payments for a total of 300 euros in past 2 weeks. I LLOOVVEE seeing the totals go DOWN!!!!
    2. My DH really wants to pay 5000 euros extra on the mortgage this year. The SL is our only debt left (after knocking out 8000 euros in debt for my new-to me car and a LOC last year). And seeing that my DH really would like to do this helps me out a lot.

    2008 was great, 2009 is going to be devine! (hey, that rhymes)

  7. #36
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    I love this thread! It is so exciting to make plans and goals, and to have people here to encourage and support when the going gets tough. Yay for 2009!

  8. #37
    Registered User kahne_9fan's Avatar
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    I am joining this challenge as well as me and my husband have some credit card debt that we want to pay off. Will figure the totals and post more later.

  9. #38
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    I am so in!

    My goals:

    #1: cut spending to the bone, cancel cable and get zip.ca (canadian netflix) and save lots
    #2: sort out my 2007 taxes ( my ex didn't use the education credit transfer from our son, so I need to sort it out - my son and I will split whatever I get back extra) This could be $3000 and my 2008 tax refund should be 2000. This will lower my LOC to $5000 and can use my new big raise on getting rid of the CC debt.

  10. #39
    McD
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    Making a 69$ payment to the credit card today. I made 51$ selling some clothes to Plato's Closet and I will be adding that to some money I had in my wallet. Balance in my siggy.

  11. #40
    Registered User tkn4lif's Avatar
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    I definately want to join this challenge. I just bought The Total Money Makover book and I am ready to begin. The real challenge will be getting my husband on board.

  12. #41
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    This is my #1 challenge. I just went through my ING savings and transferred $565 to my checking acct. Once that comes through, it will go straight the cc.

  13. #42
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    Quote Originally Posted by MrsMcDowell View Post
    Making a 69$ payment to the credit card today. I made 51$ selling some clothes to Plato's Closet and I will be adding that to some money I had in my wallet. Balance in my siggy.

    WTG, that's great!!

  14. #43
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    If I keep going CC debt should be paid in full before June.

    Then we plan to get serious about the car loan
    We will continue to pay extra on mortage or we will never be able to retire.

    We need to increase our income is the biggie.
    I do family childcare and I need clients I will have to take another infant if I do not get preschoolers soon.

  15. #44
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    I'm in.
    Short term: Pay off CC in Jan ($420)

    Long term for 2009: Finish house, get 10,000 in savings, pay off all other debt . . . not lose my job

    It scares me to look ahead, so I'll just go with pay off CC in Jan for now.

  16. #45

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    Talking

    I need to get rid of my debt. In last 4 months I have managed to get myself $6,000.00 in debt. Fabulous. Now, its time to buckle down and get rid of this debt. I'm willing to give to get out of debt. I can't wait to see the challenges offered! I will post in my signature, as everyone else has done.... I can't wait to see myself debt free at some point in 2009!

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