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: 07-26-2004
Mon, 01-10-2005 - 5:08pm

For 10 days, not too bad. We have incurred no new debt, which is *huge* for me lately, and although we haven't paid any snowflakes on the cc, we only get paid once a month, so that's not up for a couple of weeks.

We have the water bill (once every three months) coming due on the 20th, and I told dh we'd take the ebay sales for this couple of weeks to help us cover it. In past months, we've put money aside monthly to pay for this expense, but in the fall months before the holidays, we spent it. All of it. Good grief. But the ebay sales are going well this week (I put up exercise videos I don't use...it's a good month for those...) :) - we're already at $70 and they don't end until tonight, so that will cover over 1/2 of the bill.

I am bound and determined not to add to the cc. Bound and determined. Bound and determined. Bound and... well, you get the idea. :)

Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Mon, 01-10-2005 - 10:52pm

So far we are doing ok. I haven't made the mortgage payment yet and we are still trying to get DH's disability checks straightened out. Other than that things are good. We lightened our Expenses by trading in our 2 vehicles for less expensive ones. So that's really good. (Dealing with the insurance company, that's another story for another time) I was told I would be getting a 20% increase. I'll wait until the 21st to see if it really happens before I put that in the budget. I definately think 2005 will be a much better year!

Susan

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iVillage Member
Registered: 05-30-2003
Tue, 01-11-2005 - 12:50am

Doing pretty well, I think. We've paid off 1.5 bills, chucked some in the emergency fund, sold some books on half.com(but bought others, lol), and were able to increase our tithing to 5%.

I'm feeling optomistic, but it's early days yet! I defintely want the emergency fund rebuilt ASAP yesterday.

Brown Bagging it isn't killing me, and it's probably keeping me more on track. Recommitting ourselves to doing it Dave Ramsey's way is probably what's giving us the most success. We're back on the envelopes (I enjoy that almost as much as the Brown Bagging...yes, that was a tad sarcastic!) and it has been interesting to see what we've overfunded vs. what was underfunded.

I have yet to incur a library fine this year-always a good thing!

Overall, I'd say we're poised for FREEDOM this year!!!
~Lisa (who's hoping that Murphy didn't hear that, LOL)

iVillage Member
Registered: 12-05-2004
Wed, 01-12-2005 - 11:34am


So far, so good! We paid off our car on December 31st, so no more car payments. We had a few unexpected expenses, but with me not spending like I used to, we were able to pay them with cash, which was wonderful. Basically, we changed karate schools for our son after his former teacher went a little nuts and started threatening the kids with physical harm (what a loon he was!), and we didn't think they would ask him to test for his next belt so soon...but they felt he was ready, so that was $50. Also, Ds decided he wants to compete in a competition this weekend (15th/16th), his first since joining his new school, so that was $35 to register him for forms/sparring and $25 to register him for weapons competition. Luckily, though, we caught a break on hotel by using Dh's hotel points he's accumulated through his work travel, and since it's only a five hour drive, I plan to pack a cooler of food, on ice, to put in the hotel room refrigerator once we arrive so we won't have to eat out. So it could have been much worse.

Our target bill is our 2nd mortgage because it has a higher interest rate than our CC. So on our next paycheck, I'll be making that payment, adding our former car payment amount to it, and all of my little snowflakes I've found along the way. It's a 20 year 2nd mortgage loan, but we're hoping to have it paid off in four years or less if we really work at it.

We have our tax information ready to go....just need to wait on statments from banks, loan companies, W-2's, etc. Originally, we had planned to put our tax refund towards our debt, but we are considering taking part of it and having Dh undergo laser surgery for his eyes. He wears contacts, and they have become such a bother for him that surgery seems like it would be a blessing.

So 2005 is shaping up to be a great year so far. All our debt is out in the open, we are working as a team, enjoying life not spending like we/I used to, and I feel much calmer about the future.

Pat

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