It's over 2 months away but...

iVillage Member
Registered: 04-27-2004
It's over 2 months away but...
13
Sat, 10-23-2004 - 10:32am
I can't wait for the start of the new year!!! A fresh start, new and improved budgeting/worksheets, snowflaking, no credit cards, etc... Is anyone else with me? :o)

This year has been tough but I've came through and even though some things went wrong and I had setbacks but also feel like I've gained knowledge and strength from some of those things. I'm going to be wrapping up a few small debts and leftover interest over the next two months and then happy new year!

This morning I'm working on my 2005 Spreadsheet :o) I finally feel like I have it together, my plan is solid and goals are realistic, my ducks are in a row and they're ready to get quackin' :o)

Reflecting, how has 2004 been for you? What are you looking forward to financially in 2005?

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iVillage Member
Registered: 04-07-2003
Mon, 10-25-2004 - 4:59pm
Overall, although I had a few bumps in the road (including incurring NEW debt), 2004 has been the year I eliminated most of my debt so far. However, I'm hoping 2005 will be better still.

DBF and I are planning to move to a lower-rent apartment in the new year. That will free up some money to go towards debt and/or savings. And I am bound and determined to stop incurring more debt - we haven't got any trips planned for this year (this last one was sort of necessary), so that will help significantly.



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iVillage Member
Registered: 03-26-2003
Mon, 10-25-2004 - 11:31pm
2004 has not been too bad for us financially. My husband received a $20,000 salary increase about two months ago. We don't have the suv payments anymore. My husband's credit card has decreased to $19k from $40K at the beginning of the year.

As for 2005, I am hoping to completely get rid of the credit card debt. We are building a new house. By this time next year, we should be moved in to our new house. My husband has taken getting out of debt seriously. Therefore, God willing we will not be having anymore c/c debt. Hopefully, by the middle of the year, we should have paid off our timeshare. I am hoping that the only debt we'll have is the mortgage.

MYM


Edited 10/25/2004 11:34 pm ET ET by mymartes

iVillage Member
Registered: 10-26-2004
Tue, 10-26-2004 - 6:43pm
Hi everyone this is my first time writing on this board. I have to thank everyone for all the valuable advice I've picked up reading these boards.

Like all of you, I have 25K in debt that I've acquired since I was handed my first credit card in college. I too am also looking forward to 2005. New year, fresh start, new goals. My biggest accomplishment in 2004 was admitting I have debt and not being ashamed of it. Reading everyone else's comments and knowing I'm not alone has made me feel so much more better and more determined to get rid of this debt. I really want to get rid off all my debt so I can buy my first home.

I cut up my credit cards (except for one which I keep tucked away at home and not in my wallet). I think twice before buying something. I opened up "freedom" accounts so that I can still pay in cash for things I want to do (i.e. vacations, entertainment, clothing) w/o having to charge it. I think that was one of the hardest things to do. I put all my extra money into trying to pay off my debt that I didn't have any leftover to do things like go out and buy clothes. So of course I started charging things and the vicious cycle began all over.

Since I'm saving for other things, it may take me longer to pay off my debt. The old way didn't work; so now I'm gonna try this way. In fact when Jan 2005 rolls around, I'll get a pay raise and a bonus. I'm gonna take half that money and pay it toward my cc debt and the other half will go in my savings.

I know this letter is long but I just had to get my two cents in. Thanks for listening everyone!!!!

Eileen


*Forget the past, Live for the Present, Look Forward to the Future!"

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