Hello - Starting a tight budget
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| Mon, 03-05-2012 - 5:56am |
Hi! I'm Amy from Ohio. I've been married for 19.5 years. DH and I have a 19 year old daughter and a 16 year old son. We also have a 10.5 year old Pomeranian.
DH drives truck locally, so his hours range. He also scraps metal and mows a few lawns for extra money. I work full time at a pool and spa store and I'm also a part time real estate agent.
DH and I have decided to seriously buckle down and go on a tight budget to pay off debt. We don't have much debt, never really have. We have a credit card with just over $1400 (was used for Real Estate School) and we have a car payment with a balance of $14,000. Our goal is to snowball it all! The credit card will be paid off this month.
Anyway, just wanted to introduce myself a little. I'm looking forward to meeting everyone.
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First off, congratulations for not racking-up that credit card. $1400 is not too bad a balance. Was your plan to tackle the credit card before the car loan? Is that the snowball you had planned?
I'm not sure if you've done any calculations on how long it will take you, but there are a number of on-line calculators that can help. Here's the one I use:
http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp
Good luck!
Kate
You will be able to pay off the credit card at the end of this month? Great progress! That leaves you with the car loan. It sounds like you should be in good shape, unless the income/expenditures ratio is not very favorable...
Welcome to DSG!
Hi & Welcome,
Norma
"Patience is the best remedy for every trouble"- Plautus