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As of yesterday we've paid off everything but the house, woohooo!!!! Paid off $55,472.94 in 18 months and now the only thing we owe anyone is our little mortgage. Phew!!

How'd we do it? We followed the advice of Dave Ramsey (gotta give his plan kudos... you do the plan and it WORKS!). We lived on less than we brought in and everything else went to debt. We cut the lifestyle. We sold some stuff. We said 'no' more. We ate at home more. We made due more. It's no secret how you get out of debt, this is all old news, you just got to make a decision to do it. And do it.

Our next goal is to save up 3 months of expenses, hoping to have it completed by May. We've upped the retirement, got life insurance in place, we're working on a will, will be starting a freedom account next month, and will start paying extra to principal hopefully starting May. Our daughter is starting college this fall and we don't have anything saved (good reason to start this stuff early, sure wish I had known then what I know now), so we're cash flowing her tuition, will just start a sinking fund for the expense.

And since I can't stop playing with the numbers, we're hoping to have the house paid off late '09. We'll be 37 and 38 years old.

Sorry to any of those who's already read this, hehe, but I'm just too excited and had to spread around the good news: it DOES work!! We aren't rich, we didn't hit the lotto, Ed McMahon didn't visit our home, we do not have finance degrees. We DID this stuff. You do this stuff it works, you don't do this stuff it doesn't work. If we can do it, us who've fallen many times and kept getting back up, if we can do it, YOU can do it!! :cheergrl:
 

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I think you have done an awesome job of paying down your debt! Thanks for sharing your inspirational story!
 

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Pammy,

That is AMAZING!! Good job! We're hoping to have the mortgage paid off in 5 years. Debts paid off in 18mo. Wasn't sure we could do it, but now you've inspired me, that the debts are manageable. I"m commited, but dh is borderline. He's impatient with paying off the debt, but doesn't want to "sacrifice". However, I think that we can do this, and if watchful, without deprivation. We're lucky inthat our oldest is currently only 12. So we have sometime, but there are 4 of the little monkeys, 10, 8 and 3 so we need to be watchful, and budget for it.

Thanks for sharing your story!

Can I ask where you did your cutbacks?
 

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WTG Pammy! You did an awesome job and still continue to do so, such an inspiration :hugz:
 

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Very impressive. Congratulations!
 

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Ohhhhhhhhhhhh Yaaaaaaaaaaaaaaaa! :fdance:
 

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WOW! :grwave:

You are such an inspiration. Thank you for sharing this!!!!

I've just started, 1st of March officially, and I've been amazed at how little I can spend to get by. I hope I can do this in 18 months also!!!
 

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Very inspiring to me as well!!
Thanks for sharing and congratulations!!!
 

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That is so awesome! congrats!
 

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You are an inspiration to us all. Congrats!
 

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Way to go! You must feel like you are on top of the world :)
 

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OMG!!! That is such an amazing amount that you paid off in 18 months. Congratulations.
 

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WOW! That is great and VERY inspiring! CONGRATULATIONS! I bet it feels GREAT!

Again, nice job!:applause:
 
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