Dare to Eliminate Your Debt
2,346 members Daring to Eliminate Your Debt have tracked a total of 1,378 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
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.
House - $78000
Student loans - $25000
Credit - $31000
Consolidation Loan/Line of Credit - $27000
GRAND TOTAL $161,000
This is our total family debt. Gameplan, consolidate a few credit cards into a lower percentage mortgage (refinance) to save $800-$1000 a month..and snowball the rest away!
Not including house and car as that would be far too intimidating. Also, they are also assets, though the car less so.
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.
Still whittling away at my student loan: $9,405. I'm so tempted to take my savings and wipe it out, but I know that is the wrong approach when I'll be puting that money towards a downpayment on a house and even with interest rates so low I still won't get one as low as my student loan rate. *sigh* Just working at it SLOWLY!
I just bought a brand new car so my debt recently jumped about $25,000. I am wanting to eliminate my other forms of debt, mostly credit cards and one small loan. I am in the military and I have no kids or spouse so I believe this task will be a little easier. I also do not own any property or have any investments. I would like to have some investments and savings for a house one day soon, but I want all my current debt eliminated before I do any of that.
My current debt is $31, 405...it will be conquered
Except for the house, the above is what we owe. If all of the job situations work out, we should have it paid off by Dec. 2012.
The total is $15,548.30
Congratulations...
I know you can do it, one year will go by quicker than you think.
I am thrilled with the progress my husband and I are making. Since August, we have paid off 2 vehicles,and 2 credit cards. Holding off anything else until Christmas season is over so we only pay cash, but in January the plan is to pay off the remaining 3 creditors, past due medical bills, and then start on my school loans. Looking like a good year. Its hard, but oh so worth it.
That's awesome!
I have this one credit card taht I want to pay off. Once I pay it off (hopefully in time before I graduate with my Masters) all I'll have to worry about are my student loans from undergrad to now which may be around $15000.
The hardest part of living paycheck to paycheck and trying to make the switch is the week in between. We have already paid our bills and since we are short on money to begin with there is not much left over for those unexpected things that come around mid week. Trying to not get down and trying to use this as a tool that our budget needs to be more inclusive of such dilemmas but it is a hard process to learn. Hubby is working overtime and has on-call pay coming so I am hoping this helps. Trying to remember to be grateful for what we do have and not dwell on what we don't.
Whats a credit score that everyone is talking about. I'm in Australia. We dont have that.?
My husband and I figuered out we were 17 thousand in debt, not including home and cars. We were making the payment ok, but knowing how loooooong it would actually be to pay it all off it would be 12-14 years! So I took out a consolidation loan at a very good rate because our credit scores are 736 and mine is 777, and paid off 10,000 of them and took our tax returns and paid off most of the rest. We have to tighen out belts for 3 years to pay off the loan, but 3 years is a whole lot shorter then the alternative! and the cards are now sitting in the safe NOT being used. I have done accounting years ago, and just had to sit down and rebudget ourselves again, and stick to it. It's been since last march, and have even paid a few bucks more to the loan every month in hoped to pay it off early. It does help he has a good job, but I am currently unemployed, and feel bad that he works so hard, but, in 2.5 years a BIG relief will be gone....
I need to carry on working to pay of my overdraft debt and also the first instalment of rent come October. Need to sort out the finance of my post-grad degree
By littletiger7 on February 8, 2012 at 09:01 AM
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.