Feeling Much Better Today

iVillage Member
Registered: 03-29-2003
Feeling Much Better Today
2
Mon, 01-09-2006 - 10:28am
My DH and I talked about it almost all night Saturday. We came up with a very good plan for getting out of the debt. The other night I had hit rock bottom and felt hopeless. NOW that has turned into determination. I feel so much better! We sat down and took our bills from the necesities to the luxaries. Then we went down from there. Sometimes when you write it out on paper you see that things aren't as bleak as they seem. If we keep to our very do-able budget we should be fine. We should be completely out of debt with in 2 years. That's where the patience part comes in. Just wanted to thank you all for the support. It is so nice to not feel hopeless!
Mimi
Avatar for endomagazine
iVillage Member
Registered: 11-09-2004
Mon, 01-09-2006 - 10:51am

Hello Mimi,

Sometimes it really helps to just talk things out and come up with a plan. Even if the plan has to change occasionally due to real life, I find it soothing to have an idea of where I'm heading, rather than flailing in different directions. =)

Actually, two years will really fly by. Especially if you snowball any extra money, which will really speed up your debt payoff. I switched to a "twice a month" mortgage payment, which will knock 12 years of interest off without changing my total monthly payment amount. Do you know how much money that will save us? $30,000 in interest! That doesn't even count any extra principal payments we may send. Having a plan will help you find opportunities to speed up that debt payoff date.

I am jealous of your two year plan. After all, it might take 5 years for me to pay off our debt completely!

Sincerely,
Lindsey Schocke

Got Dot? Why Not? It Pays!
http://www.website.ws/runsamok/show

Sincerely,
Lindsey Schocke

Geeks on Tap: Mission Accomplished

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Mon, 01-09-2006 - 12:37pm

Mimi - congrats.

All my best,
Danni