How are you doing so far this year?

iVillage Member
Registered: 09-22-1999
How are you doing so far this year?
14
Sun, 01-09-2005 - 8:47pm

How are you doing so far this year on your debt reduction journey? You may be laughing and saying, "But it's only been 9 days! And she is asking already? " and that is true, but 9 days can be quite a start to anything we want to accomplish, and 9 days can give us a sense of what our journey this year could be like. Also, 9 days could be a difficult 9 days for some of us, and we may want to express how the changes we are making to reduce debt are like or to express how these changes are working.

So, please share how the last 9 days have been.

Some folks may have set themselves up with a new year resolution to reduce debt, so you may be at the beginning....and we'd like to hear what you think so far. Some of us may be somewhere towards the middle or end of our debt journey, and we'd like to know how the new year is treating you.

Thank you in advance for your stories and impressions!!!! Littlesbigs

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iVillage Member
Registered: 09-21-2004
Sun, 01-09-2005 - 11:04pm
I have a positive outlook this year. I really can't say to much on our debt reduction cause I really haven't gotten any of my "debt" bills. They will be coming this week though. My dh did get a raise though although not as much as I figured so really curious for his end of month LES to come up so I can see where my figures came out wrong. But then again, some were hearsay since I had to ask someone about it and she even said she wasn't too positive. Right now I'm just wanting to get the tax season started and over with so I can have a better idea of how my plan will work. Hope everyone else has a great debt free year.
iVillage Member
Registered: 09-25-2003
Mon, 01-10-2005 - 3:26am

I think I am doing okay. While we haven't made any snowflakes yet, we will both be bringing in a lot of money over the next couple of weeks. I am also proud of the fact that so far this year, we have not used our credit cards. In fact, other than gas, bus fare, and $7 worth of groceries, we haven't spent any money.

So other than the fact that if it keeps snowing, I can't work, and without work, there is no money, I am feeling pretty positive.

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Mon, 01-10-2005 - 10:05am
I can't complain.

All my best,
Danni

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Mon, 01-10-2005 - 10:09am

Actually, before I read your message my thought was "Geez, we just *started* the year" and then I read about the 9 days and just started laughing.


Let's see...the fact that my son's birthday is Wednesday makes for this year off to an expensive start.

iVillage Member
Registered: 05-14-1999
Mon, 01-10-2005 - 10:40am

This is the first day that I'm back and I think I'm doing pretty good so far even if it is just 10 days into the year. As far as snowflakes go, I guess I can report $1137.53.

CC: $1250
miminum due: $116

LOAN: $500
due: $497.47

Hope every one has a great year.

Avatar for klmonto
iVillage Member
Registered: 03-27-2003
Mon, 01-10-2005 - 11:04am

So far 2005 hasnt been too great.

KRISTI, mommy to:  

iVillage Member
Registered: 01-10-2005
Mon, 01-10-2005 - 12:36pm

Hi All,

This is my first time joining this discussion and I have just crafted my first debt reduction plan. I have 25,000 in cc debt at 20% and about 12,000 in student loans.
I am 28 and my goal is to buy an apartment before I turn 31 so it's time to get this done.

I have not charged in months and my plan looks like this.

My bank offered to lend me enough to pay off one CC at 15% (i have also asked my family if they are interested in loaning me the same amount at 10% and will take the better offer)

I plan to sell my stock, use my (small savings) and borrow from my 401K to pay the other card (hopefully next month)

This will leave me with 2 loans - 1 at 15% and the other at 7 but I do plan to send any and all extra funds to these to pay them off very quickly.

I would appreciate any and all feedback, advice and tips.

Nikki

iVillage Member
Registered: 11-01-2004
Mon, 01-10-2005 - 1:08pm
HA, I thought I was off to a good start then things started happening...again. One step forward and, what feels like, a million back! We can't get going on Dave Ramsey until we are current with all "important" bills...the ones we need in order to love so to speak. None the less I am freaking out. I had an interview today, I get payment from one of my clients on Wednesday and hopefully my husband gets the new job he is interviewing for. I want so much to get out of this living mess.
iVillage Member
Registered: 02-19-2004
Mon, 01-10-2005 - 1:57pm
Well, I just spent $3,000 on a down payment for a car ($2k on the credit card and $1k from savings) and I now have a $203 per month car payment that I didn't have 9 days ago. But you know what, I'm doing great! I am in more debt but it was done so intentionally and with a plan to pay it off and work it into the budget. And it was for a good reason - reliable transportion for my 50 mile roundtrip commute to work and so that dd and I aren't stranded somewhere. My other car made it to 106,000 miles and I had it 6.5 years, so I feel good about that. I also feel good that I did what I had to so that my monthly car payment was affordable. When I bought my previous car I financed it for 6 years at 12% interest with nothing down, and the car payment killed me every month (although I did pay it off one year early). This car is for 5 years at 2.9% financing because my credit has improved so drastically, and I know I made a good personal and financial decision in buying it.

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Avatar for mquin73
iVillage Member
Registered: 03-27-2003
Mon, 01-10-2005 - 3:49pm

I know it's only been 10 days into the New Year, but so far things are going pretty well.


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