Progress

iVillage Member
Registered: 11-14-2008
Progress
9
Wed, 03-20-2013 - 8:43am

You know what kind of people we have here? Determined dedicated ones thats who! It took me 6 times to try to post! LOL!

Well my ticker for the store roof is just under 10 grand. Going under that just makes you feel good. A long way to go but making progress. I took out that loan in July of 2012 for 30, then put back 7 when I didn't need the whole amount for the roof. So it was really for 23, but they gave me 30 in case I needed more. I guess that is how those things work. I suppose some would keep the whole thing but not me.

Plus I used to have truck loan ticker but it disappeared in the change over. It was at 20 and is now at 4380 in  a c ouple days after the payment has gone through . That is exciting as well. If we didn't put extra on it and just made regular payments it would be gone in a little less than year. I hope we can make extra payments on it. 

So I am happy with this phase of the debt repayment. The truck is our last consumer debt. I'm not saying we will never have another car payment but it is good to be in this position and I am proud of us.

Boy! We have paid off a lot of debt since 2008

Personal credit line of mine $30,000, Student loan of DH's 38,000, Land and Building loan for my business $35,000, a jetta 27,144, now the truck we have paid off just over $15,000, and we have bought some things and saved some money, and started retirement funds.  This is doable folks, and we are about medium income earners, not high. I guess we just lived off one income and did what we wanted to with the other. 

I say it is high time we started the next phase of our lives, getting back to work for me and saving for a house. Soon very soon.

Take care everyone. I just wanted to express a little positive here, i think we needed it, along with some spring please!

iVillage Member
Registered: 10-28-2009
In reply to: galstorelady
Wed, 03-20-2013 - 9:26am

You should be so proud! You have made fantastic progress, I know you will have that house sooner than later. Woohoo!

iVillage Member
Registered: 10-09-1999
In reply to: galstorelady
Wed, 03-20-2013 - 10:33am

Well, galstore, you've done great!  Knowing exactly where you are & where you are going is half the battle I think.  Also, being able to keep our income, many people have struggled with jobs so I am thankful for mine.  I am counting down our mortgage, it is currently just under $44,000...I think we can have it paid off in 20 mths.  That is counting on 2 bonuses coming my way.  I have worked for a company for 28 years & have to be ready for when the owners decide to retire in a few years.  I want to be free & able to do something different & not have to count on such a large income.  I would like to work 4 days a week in a nearby town, I drive there 4 days a week as it is to workout in the college gym, so I'm thinking that is where I want to go & wouldn't be adding alot to our expenses.  I am excited about being able to make a change in a few years.  Our retirement is currently at $385,000 & once our mortgage is gone we will be debt free.  My DH only works 7 mths in the spring/summer/fall, but we are doing fine & have benefits thru my job.  I'm not even going to stress about the health ins situation, if we have to pay for a major medical plan when I make a job change then that is what we will do.  I would like our EF fund to be at $20,000 when I get done working for this company, so we do have some work to do there but really concentrating on knocking the mortgage off!!  Good luck to everyone with their debt free plan, I hope there are some more positive posts heading our way!

cindylee

iVillage Member
Registered: 10-01-2008
In reply to: galstorelady
Wed, 03-20-2013 - 4:47pm

LOL, only took me twice to log in today.  I think that's a new record (evil grin) 

You have made a ton of progress over the years...including adding a new family member!  That truck loan will be gone before we know it.  Do you think it will be gone by the end of the year or is that pushing it?  

Great Progress!  Hope this continues for you!!!

iVillage Member
Registered: 10-17-2010
In reply to: galstorelady
Thu, 03-21-2013 - 6:57am

Way to go Karen!!

You'll be debt free before you know it!

iVillage Member
Registered: 11-14-2008
In reply to: galstorelady
Thu, 03-21-2013 - 7:17am

Hi Norma!

I don't think it is unrealstic. I plan to go back to work in the middle of July. I am having problems finding child care right now but will keep working on it. Of course I have a budget for us for me to go back to work with daycare. However there is some cashflow left over we can reach our goals with. I don't know if taxes will bring a refund this year but I am hoping with me not working and our cute new little deduction there will be but I just don't know. So there are possibilities here for that truck loan to be gone. I don't want to make any promises as things are so up in the air. We will see. 

I am so excited by your journey every week and can't wait to see how things turn out. I so enjoy your posts about your yard. My spring fever is so bad with the 6 feet of snow in our yard. We are supposed to have things warm up on the weekend and early next week!

iVillage Member
Registered: 04-10-2003
In reply to: galstorelady
Thu, 03-21-2013 - 12:59pm
You rock! What a great job! You are so close to the finish line!!! Keep going!!!

Bex -

Community Leader
Registered: 08-25-2006
In reply to: galstorelady
Thu, 03-21-2013 - 2:12pm
Yea! I love getting those balances down below a big increment.
Serenity
iVillage Member
Registered: 07-24-2001
In reply to: galstorelady
Thu, 03-21-2013 - 3:38pm
You really are such an inspiration on this board, and I always appreciate your straight forward advice. It's really amazing what you can accomplish when you keep to your goals. Thanks for sharing this. It's so motivational!
Avatar for mahopac
iVillage Member
Registered: 07-24-1997
In reply to: galstorelady
Fri, 03-22-2013 - 11:31am

Congratulations, those are terrific results from hard work!

We are facing a situation in our family that may require quite a lot of money related to schooling for 12yo DS, who is having a lot of emotional problems and may have learning disabilities too.  I got very discouraged for a while, and then I added up the amount of debt we paid off between 2004 and 2008, and what we've been able to save (and spend) between 2008 and now, and I realized it *is* doable - we can do what we need to help DS.

Sometimes you just need to take stock and remind yourself of what you've accomplished so you can keep pressing on.