About Me

ceejay74

I'm the financial head of a three-adult household. We have great credit and income but massive debt. I've always paid bills on time but beyond that haven't planned very well. Now we have some definite goals, so we need to get serious about financial stability.

DEBT AS OF SEPT. 15, 2008:
Credit card/personal: $45,066
Home/mortgage: $299,155
Education: $74,855
($44,765 actual; $30,090 estimated future)
TOTAL HOUSEHOLD DEBT: $419,076
($388,986 actual; $30,090 estimated future)

October 2008 goal: pay off $3000 by 10/31
Progress:
$825 down, $2175 to go
Goal balance: $416,076
Balance as of 10/1: $418,251

Big-Picture Goal, begun 1/1/08:
Pay off all credit card and personal loan debt by 12/31/09
Beginning balance: $70,251
Current balance (10/1/08): $44,746

My Pages

Another small step

December 29th, 2007 at 09:51 pm

$58 to a credit card.

$2399 to go for January!

Posted in The Ad Hoc Plan | 4 Comments »

4 Responses to “Another small step”

Broken Arrow Says:
December 29th, 2007 at 11:13 pm

Congrats! Every little step helps.
Amber Says:
December 30th, 2007 at 06:48 am

Good for you, I have to make sure my cc is paid off for January as well
koppur Says:
December 30th, 2007 at 08:17 am

It just amazes me how quick you pay down your debt! Hopefully I can be like you when I grow up...
ceejay74 Says:
December 30th, 2007 at 03:53 pm

Yeah, but you should've seen how fast I built the debt up in the first place! :-)

Seriously though, I'm lucky to have 3 incomes flowing in. Before that though, when there were only two, when I decided we needed to stop going into debt and reverse the money flow, I basically just cut out pleasures that cost money for a few months. We got very little spending money, we weren't allowed to use credit cards, and that basically meant cooking at home every single meal, not going out anywhere, and finding cheap ways to entertain ourselves and keep our friends. (Hosting happy hours at our place was cheap; hosting a potluck BYOB happy hour would be even cheaper!) It was a brutal change of lifestyle, but it did it for us. Now we can breathe easier, but we still have to say "no" or "wait" to many things we want.

You are in a much hard place, koppur, so don't ask too much of yourself. Even just maintaining your current level of debt would be an amazing accomplishment! Things will change though. :-)

CJ

Ceejay74's Personal Finance Blog

A blog to help me document my journey out of debt.

Another small step

4 Responses to “Another small step”

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