Finances Friday...
One of the goals Ceci and I had for this month was to clarify our debt reduction plan. For the past 2 1/2 years we have been attacking our debt. OK, attacking is an overstatement, but we have been focused on reducing our debt. We started reducing our debt in Feb. 2006 when we cut up our credit cards. We had enough. We read "Total Money Makeover" by Dave Ramsey, and decided enough was enough. Well, after two years of attacking the debt we now have a balance of $11,056 in debt. Yes, that much. But it's a lot less than it was... a lot less!!!
Today, Ceci and I sat down and figured out a way to reduce our debt to $0 by next year at this time. We are going to hit it hard and really attack this thing. Starting Monday, we will take a huge step towards our goal and we will reduce our balance to $9,556. Yes, a $1,500 reduction. This payment is thanks to Ceci, who sold the couch she recovered.
So, the plan is in place... we even signed it, so when one of us is having a weak moment, we can pull out the paper we signed. It's great to be on the same page!
Also, here is our goal. Once this thing is colored in we will have a balance of $0. It's nice to already have some squares colored in. Each square is worth $36.85.
Here's me in attack mode. I'm ready to be finished with my "debt-filled" life. I'm tired of being in debt. It's time to take care of this!
3 comments:
Congrats on the progress, guys! That's huge, and to be free in one year is incredible. We've got a few more years before that can be in the picture, but we need to get aggressive, too.
Dave, do you normally attack your finances without a shirt on? Is it a Braveheart thing?
I LOVE it! You inspire me!
Actually, I ripped my shirt off when we decided to attack our finances.
By posting this, I'm hoping for some accountability. It's easy to say your are going to do something. It's another to carry it out. I'm hoping that in one year I can post a blog that says, "Free from Debt Friday".
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