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It's time to get serious about that debt. For anyone who knows me they know that I'm mad about debt. I want others to have the freedom to do they things they've dreamt of doing, to have the freedom to do live without worrying about how they are going to make their next payment.


So everyone, I want you to get serious this year. I'm going to be cheering you on, giving encouragement and pushing you to work harder and harder. It can be done, we are living proof of it. It took us 6 long, hard and sacrificial years, however we are debt free.

So, who is serious about getting rid of debt?

How much would you like to get rid of debt?

Are you willing to make sacrifices to see that debt gone?

Who wants to join this challenge?
 

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I will be working on this as well this year .. will get back to the thread with specifics soon.
 
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I just have some medical debt that I need to finish paying off. My goal is to use my paycheck and any overtime my dh may have for three things. They would be savings, my dd's college expense account, and snowball account. I am trying to cut back on groceries expenses, cutting utilities and such to save even more. I want to get to the point where I am paying bills as soon as they come in the door and not wait for the due dates....mine aren't late now, but they aren't early either. So, I would like to join this challenge to help me get this medical stuff done and to help me stay focused.
 
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We're 6 months into our total debt elimination plan. We have every intention of making our goal. We just wish we could predict when, right now... :)
 
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I concentrating on lowering our debt this year too. I'm going into full-on frugal mode to make sure it happens too. DH's job is iffy right now, but I know we can get some of it completely paid off no matter what happens, and if things go well on the job front and I remain steadfast in keeping my eye on the outgoing money, it is possible we could be debt free other than the mortgage by the end of the year!!! So, I'm all in!
 
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I am game for this! We've had a few small debts and gotten them paid off, and only have one big debt left, about 14k in student loans. The interest rates aren't bad, and we're already making about 30% additional payment each month. Having just gotten married and still learning what our actual costs look like (as opposed to our supposed costs when first writing the budget, before the wedding), things will definitely be pushed around in January, and now that the holidays are over, things will hopefully begin to proceed as "normal."

We just began repayment on the student loans in October, and Sallie Mae is ignoring our extra payments. We don't have a payment due until March! :csign: We'll be keeping that 2-month buffer in case anything ever happens, but in the mean time, we're trying to figure out how to put more of the budget toward the debt each month. Our current projected finish date is sometime in the summer of 2016 :sigh: This date isn't that bad, it is 2 years short of Sallie Mae's plan. But I'd love to do it quicker. 14k doesn't seem like that much.

Anyway, I hereby join this challenge! As things get ironed out with the budget, every extra buck will be applied, and we'll see how much beyond the minimum payment we can go.

$13,637.45 outstanding principal
Minimum payment: $158.73/mo
Current payment: $200/mo

We're taking FPU beginning in January, and I could not be more excited! Here's to massive debt reduction in 2009!
 
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I'm with ya baby! My siggy shows the debt I will be working on this year. Besides this debt I do have a student loan debt as well as a mortgage but those are easily managed, so I want my energy to be focused on: Getting rid of the cc debt
(3,600), at least half of the van, a good chunk of the truck, and $10,000 in my EF (I am not counting the savings I do for the kids that is automatic). I am rebuilding my food storage and I'm going to be taking a class on how to do that for $5 a week. I will also be continuing on the great house selling venture and I want to do all of the projects around here WITHOUT the cc so I have written out a plan for that. So get your pom-poms out I'm gonna need 'em!
 
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My debt reduction will be aimed at three different places.

Credit card: ? Bal. it was paid off in Apr and back up since Aug. Needed to get it back down again.

2 hospital bills: I am currently paying $100.00 a month on each one .. I will keep it up as long as I can or until it is paid off.

Finally plans not finished yet.
 
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I will be trying to get our vehicle paid off as quickly as possible. That is our last non-mortgage debt. It is 24K worth. We will see.

Kellie
 
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I'm in. What I really want us to pay off is our mortgage. We don't actually have other debt. All our vehicles are paid for. We do use our CCs but we pay them in full each month. Of course we do have our regular monthly bills. But, I would like to pay extra on our mortgage and get it down.
 

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I am in!
I can't wait to get rid of my debt.
I will give specifics on January 1st!
I would like to see most of it gone before the end of the year!
 
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We are adding to our debt...well not really. We are adding to what we are going to payoff. We have been paying our dd's car payment (since we insisted on a new car due to her being so far from home). My dh asked last night if we could pay it off this year, and honestly with a little more work it could be done. So instead of our extra money being split three ways (savings, dd's college fund and medical payoff) we are splitting it into four groups which will equal an extra car payment a month. We also talked about adding any bonuses and such to the car payoff. I can't wait to see how this works out.
 
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Discussion Starter #13
Over the next 52 weeks, I'll be giving little extra challenges so that you'll be putting even more towards your debt. I'll add them to this thread so that they don't get lost. Watch for them starting January 1st and then each Monday for the next year.
 

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This is one of the main reasons I found FV..reducing my debt. We are floating along but barely. I have several cc and other bills but the ones that I have listed is what I want to focus for the time. I figure baby steps lead to bigger and better payments. Later I will focus on the other credit cards, the house and the other loans..one step at a time.
I have several Dr/hospital bills listed. Both of my children had to have emergency surgery 6 months apart..one in Sept and the other in Feb, needless to say we now owe.
I did put my daughters hospital bill that I just paid off in the list. It feels so good and I want to keep focused that I can pay off bills if I just put my mind to it!!
 

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Over the next 52 weeks, I'll be giving little extra challenges so that you'll be putting even more towards your debt. I'll add them to this thread so that they don't get lost. Watch for them starting January 1st and then each Monday for the next year.

Thank you for this! I know this will be so helpful!
 

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Over the next 52 weeks, I'll be giving little extra challenges so that you'll be putting even more towards your debt. I'll add them to this thread so that they don't get lost. Watch for them starting January 1st and then each Monday for the next year.
I'll keep my eyes open. I know you have some inspiring ideas up your sleeve!
 

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count me in 3445 in credit card debt to snowplow.
 
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I am in on this one. I am going thru my paperwork but I am aiming for 150k pay down on total debt so I can quit the second job. more specifics later
 
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I'm so in! Our MasterCard got horribly out of hand in the last 3 months. When we get back from our trip I'll post the totals and goals. As of 1/1 it will not be used until payed off.
 
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