Coming out of lurkdom :)
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|Sat, 01-30-2010 - 9:30am|
I've lurked on the board for quite a few months now, hoping that things would fall into place and I'd be able to start going after my debt.
We bought our house about a year and a half ago and we unable to sell our other house. So for a year we had renters in it, the rent covered the payments for our new house. When DH got full time at work, we decided to put the house back on market. That was in September. So we paid the mortgage, heat, electricity, water and insurance on two houses for almost half a year. Needless to say we couldn't attack our debt during that time, thankfully we didn't go backwards. But the house has sold, and now we can really go after our debt.
We've cut out most extras already, and we're about to switch to connectico for our phone as well which will save another $30 a month. We only have 1 vehicle which we own outright, and though we budget about $200 a month for gas, we use that whole amount as DH travels about an hour to work each way. We don't have cell phones, cable or daycare. Dh works full time and brings in $2242 avg every two weeks. I work pt and usually bring in $100 every week avg (sometimes more, sometimes less). We have 4 credit cards between the two of us, and owe approximately $15,000, we also have a line of credit which is at $8,000. By selling the other house we've freed up about $1600 every month that will mostly be going to debt. We're going to go after 1 credit card at a time (highest % first) and get those paid off. We should be able to get the credit cards paid off this year, and the line of credit by June of next year.
Just wanted to say that as a former lurker, that all your inspirational stories really helped out. Knowing that there is a light at the end of the tunnel is huge. Thanks