Ostriches Can Miss Out

iVillage Member
Registered: 11-14-2008
Ostriches Can Miss Out
2
Thu, 01-21-2010 - 2:46pm

I read an article on MSN and this is a portion of it:

"Denial is not a financial plan. And neither is fear, confusion, a government bailout or a lottery ticket. Many people, perhaps believing themselves powerless or that the goal is too far away, simply give up. And in doing so, they give up control of their financial destinies."

I am so glad I confronted my debt when I did and now have a plan for the future. I also believe it is important to have many mini goals, or a mulit step plan to keep motivated. If you don't have a plan how is it possible to succeed and how would you know if you did or not?

Just as a side note: A quote from Gail Vaz-Oxlade "Asking your parents for money is not a financial plan!"

So I suppose I am asking....What is your plan and how do you know if you have succeeded?


Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Thu, 01-21-2010 - 3:21pm

The first in our list of goals is to get our monthly obligation total LOWER than DH's paychecks. We obviously do a lot of side work, but we don't want to have to depend on it anymore. We're attacking the lowest balances first to get rid of monthly payments. He's also considering a new job that would come with a raise plus fewer hours to work which translates into more time for side work.

Long term goal, of course, is to be debt free including the mortgage - and that's after we build the new house. The mortgage payoff is a ten year plan, leaving DH at 46 and me at 42.

We've got realistic plans in place to make it happen, but that's far more than I'll get into here!

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FLINGING DEBT:
Sarah
iVillage Member
Registered: 08-24-2007
Thu, 01-21-2010 - 5:36pm

Good quotes.

Kate


empty purse