Dare to Eliminate Your Debt
2,378 members Daring to Eliminate Your Debt have tracked a total of 1,448 times
Eliminate debt so you can get ahead financially and avoid living check-to-check. Reaching this goal may require setting up a savings account, creating a financial plan and cutting those credit cards for good!
Member Comments
That is AWESOME!!! Congratulations, I've been working on mine for quite some time now, and seeing someone finally make it through to debt-freedom really reinvigorates me to keep going. Great job, and have fun with (some) of that new found surplus of cash!
Don't know exactly, but it feels like a ton. $800 to a loan company, $3000 for a loan from my bank, $54,000 in student loans, $1100 for one credit card and $500 for the other. I think that's it.
I don't have exact numbers right now, but I can make pretty good guesses. Student loans: $100k + (FYI: aviation is EXPENSIVE!); Credit cards: $1500; Car: $14000. I'd love to pay off some of those bills so I can afford a mortgage.
Right now my husband and I owe about $43,000 in student loans and car loans. I'm ready to get out of it. I'm ready to be debt free.
The change begins today.
Right now it breaks down like this:
$9,000 Husbands current car
$4,000 husbands last car
$12,000 my student loans
$17,000 husbands student loans
No credit card debt and no mortgage. I know we can get out of the hole - we just have to want it more than we want it now.
Alright!
I have a car loan at $17K with an interest percentage that is quite disgusting. I want to get my balance down to $7K by Dec 31. Soooo... will have to become an avid minimalist with a steele sense of frugality in all aspects of my life.
Do I really need that Redbox movie or can I rent fromthe library? Do I really need to eat meat every night for dinner or can we make it a few times a week? Do I really need to fill the water cooler at $1 a jug or couldn't I just drink it from the tap? Is it necessary to drive to the grocery store when the milk runs out or is it possible to walk?
Yup, I got the right mindset but just need to make sure I stick to it!
I totally understand. You can do it.
£25,407 (over $40k) in debt to credit cards, a loan and Inland Revenue.
Got to rid myself of this embarrassing amount so i can get married, have kids etc.
Giving myself 18 months.
30,000 in credit card debt. I want to make it go away. I have made progress using mint.com. I want it to go faster.
How do you like mint.com?
Got about 15k in debt, including all debt. Must get this down. Its just hurting my credit!
thinking about cutting my cards. They do me nothing but trouble. If I cant afford it with the money I have, then I dont get it!
Don't cut up all credit cards. Always keep one on hand for emergencies. You will need to keep one active in order to keep your credit good. As crazy as it sounds, it actually hurts your credit to not have a revolving balance. Being responsible hurting you sounds crazy but its true!
Had to buy a few plane tickets. Haven't figured out the best way to buy them. Usually we save for big items but with tickets, if we wait until we have the money, we will pay more for the flights...Didn't want to dip into savings to buy them either. Got rewards for using the card and we are committed to paying it off but I am bummed we have a balance again.
Balances aren't bad, they actually help your credit by having a revolving balance. Credit card companies will regularly lower your interest rate if you use your credit card :)
Still paying off two student loans, my car, furniture and line of credit :( Only 26 years old. Yikes!! ( I won't even bring up the mortgage)
Pick the highest interest one first and make large payments on it while making minimum payments on your lower interest. Once you pay one off, move down the list to the next highest.
Student loans are typically last because they have lower interest rates. Hope this helps.
Pay your mortgage biweekly and you will be shocked at how quickly you pay your mortgage off.
Student loan debt...Just finished Dave Ramsey's Financial Peace University in June 2011 and will be snowballing my way to financial freedom by June 2014!
Our total debt is over $355,000 that includes the mortgage and student loans. Today I had to tell a creditor I can pay nothing until March of next year. We have been trying to keep up with all our creditors but it is not working. My current focus is to become totally current on the mortgage and pay only for necessities. I don't work and have been unable to find a job. We operate at over $1000/month in the hole. I have no clue how we have been able to hold on this long
Check out daveramsey.com if you want a good kick start to getting out of debt. My wife and I are finishing up his Financial Peace University in 3 weeks and by the end of the month, we will have saved and paid off about 4,300 since starting class. It may be hard, but you can do it!
Agree with dawilson8655...I did dave ramsey and I have changed so many habits! I am currently about 69000 in debt due to student loans, but with my focus and Dave's techniques, I will be done june 2014...3 year after my start date of Financial Peace University!
February is going to be the start of getting this to zero...I'm shooting for 6 months conservatively....lets see how that works out for me.....
Intent on filling my Isa so debts have crept back up. Only 3 more weeks then I can start to repay.
By melisjoy on May 16, 2012 at 04:05 PM
I payed the last of my debt today!!! That was $17,000 in student loans. Let me tell you it is so worth every shoe I couldn't buy and trip I couldn't go on. Now all my money is simply mine to do what I will with!!! Best feeling ever. Keep it up gang, keep it up. :)