Holy Snowball!

Avatar for mclsp7
iVillage Member
Registered: 03-27-2003
Holy Snowball!
4
Mon, 04-03-2006 - 9:39am

I have just snowballed $1,290 onto my loan. This means that we will be able to pay off our loan 2 months faster than we thought. Our last payment should be April 28th. I can't wait. This will free up $600 per month for us to pay down our credit card which is the last the our debt ($7,141).

M
Total Start Debt: $46,000
Total Debt Remaning: $7,717
Goal: Debt free January 2007!

Avatar for aerandel
iVillage Member
Registered: 03-25-2003
In reply to: mclsp7
Mon, 04-03-2006 - 10:06am

Wow!

                          

             

iVillage Member
Registered: 05-09-2005
In reply to: mclsp7
Mon, 04-03-2006 - 10:17am

That so wonderful!
You have made amazing progress on your debt!

May I ask when you started? I noticed your totals and you have come so far!

Stacy

Avatar for mclsp7
iVillage Member
Registered: 03-27-2003
In reply to: mclsp7
Mon, 04-03-2006 - 10:33am

We were able to snowball so much by getting money from various sources. Though the amount was definately not typical of what we can snowball. Some was our income tax return, some was part of the government child support we receive (Canada) and some was just us cutting back on unecessary things that we used to buy. (magazines, junk food, going out for lunch, and dinner...). Every bit of extra money we have goes to pay the debt. We have been at it pretty seriously for over 4 years and can finally see the end. A lot of our debt was credit card debt, so we took out a loan from our bank and consolidated most of our debt (at 6% interest instead of the 18%-23% our credit cards were).
I cant wait until it is all over and we can start to live again... without credit cards.

M

iVillage Member
Registered: 04-08-2003
In reply to: mclsp7
Mon, 04-03-2006 - 12:30pm
YOU SHOULD BE SO PROUD OF YOURSELVES. WHAT A JOURNEY. GIVE YOURSELF A PAT ON THE BACK!