Update on getting out of debt
My wife and I went through the bills and decided what all to cut and what all to keep.
By getting rid of a few things we either didn't need or no longer used, plus dropping the land line and tweeking the cell phone a little bit we were able to lower our monthly obligation by quite a bit.
How much is quite a bit?
Well, I just added up my monthly savings and it comes out to a whopping $661.79 per month that we will be saving.
Pretty cool, huh?
Also, I made an extra payment of a thousand dollars today to reduce the debt load.
Not a bad result for spending a day crunching numbers.
I guess now I need to get the HTML code from somebody to put the little "how much debt I have left" thing over on the sidebar.
posted by jagular @ 8:45 PM
6 Comments:
Congratulations on dropping your monthly commitment--that makes it easier! On adding the sidebar comment, I just went into the template settings and copied some existing code and then changed the wording. I think Leigh Ann is better at that than I am!
p.s. Thanks for the link!!
Although I have very little recurrent debt, I should do the same thing. I barely have a vague idea of what I spend every month. All I know is that it is not too much (besides the cable/Internet bill argh).
Good job! Isn't a releif to actually know where you stand? I spent the morning adding up all extra costs for next month..my medical stuff tends to hit all in one month, Co-pay's on DR visits and 3 month supplies of ALOT of medication, plus Honey has some next month too..which means, that I have to watch my spending next month. Plus the fact that our property taxes come due in Nov again.. I really should pay that quartley.. that way it doesn't deplete our home savings account..
the good news is we can pay it and not have to skimp on the things that matter..like food.. I just can't shop as much (for example I spent $600 this month on things I just wanted, but it was all cash, so no debt from it)
It's actually not as bad as I expected.
I don't really consider myself to be in any kind of jam here, because I have a pretty good income. I'm hoping to pay an extra sixteen hundred to two thousand per month until this is paid off.
The six hundred something that I reduced my monthly expenses by would actually pay it all off in just about a year even if I did nothing else different.
Holy cow, what could you have cut to equal $600?! That's crazy. But really cool.
Oh and Save Sheila: Leigh Ann is not better at code... I did it *cough*
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