Getting there, debt is now down to $17,350. Not bad considering we recently had to pay for some house repairs. I really feel like we're getting closer to freedom from debt!
The smallest card is gone. We have 3 debts left now, the smallest is currently $1,440. I actually almost have the cash to pay it off right now but I have a few bills to pay I am waiting for to see what the costs are first (car repairs etc) so we can fund those in cash if we need to.
I also have the emergency fund up to $1,800 instead of the basic $1,000 so I feel much happier having that as a back up if we need it.
Our net worth was -$7000 when I began this blog, it is now $37,000 in the positive!
Tuesday, September 15, 2009
Friday, June 12, 2009
The smallest card I was paying off is at 0%. I decided that I am disciplined and gazelle enough to attack my highest interest debt right now. This month I paid $785 so far to a loan which is at 17% interest. That brings it down to $8500. I will pay around $700 more during June. I'm really inspired right now. I know that we can be debt free in under a year now and I'm determined to make sure that it happens. The budget is tight but not too tight. I'm doing it!
Saturday, May 30, 2009
Still progressing
I have that smallest credit card down to $1,100 now. I have also just applied for a debit card so that we can cut up our credit cards for good. No, we haven't done that yet hence our slow progress to date.
Looking at the bright side, that small card will be gone by the end of June and then closed down. That will be a phone call for DH to enjoy. Then onto the next one!
Looking at the bright side, that small card will be gone by the end of June and then closed down. That will be a phone call for DH to enjoy. Then onto the next one!
Thursday, May 14, 2009
The debt I'm currently paying is down to $1974 with more money to follow soon. They just raised our limit too so I've asked them to reduce it back to what it was.
Friday, May 8, 2009
$300 in medical bills and $400 in car repairs in the last two weeks - all unbudgeted. I have had to cashflow these and it has put a dent in our debt repayments.
Still onwards and upwards!
It just reinforces my need to get some sinking funds set up for these things.
Our smallest debt is a credit card with a balance of $2,304. I'm aiming to pay $850 off it in May to bring us down to $1,454. Its currently interest free so I'm going to get rid of it before the interest kicks in later this year.
I contacted our highest credit card provider and they agreed to halve our interest rate. I was excited about that, it will save us around $75 a month in interest.
Still onwards and upwards!
It just reinforces my need to get some sinking funds set up for these things.
Our smallest debt is a credit card with a balance of $2,304. I'm aiming to pay $850 off it in May to bring us down to $1,454. Its currently interest free so I'm going to get rid of it before the interest kicks in later this year.
I contacted our highest credit card provider and they agreed to halve our interest rate. I was excited about that, it will save us around $75 a month in interest.
Friday, May 1, 2009
Thursday, April 30, 2009
Wednesday, April 29, 2009
Gazelle coming back
I spent about 2 hours last night re-doing our budget and psyching myself up to get gazelle again.
I have a good feeling that nothing will go wrong for a while and we can make some good progress. Cross fingers!
I'm excited about focussing on this again. I just hope nothing breaks :)
I even went to our cheapest supermarket this week (that I hate) so that I could get better value for money. I left DH behind so that he couldn't complain about that supermarket and put me off it (plus its cheaper shopping with him)!
I think I posted a while ago about a friend of mine who is in a lot of debt. When I told her I was going to follow the Dave Ramsey program and I would be debt free in a couple of years she said "jeez girl how much debt are you in". Well she confessed to me the other day she owes over $130,000k now due to a couple of failed business ventures. She's on one small income and next to no assets. Heck! Don't think I'll be taking any money advice or letting her make me feel bad about mine in future. She's got her head in the sand thinking one of her business ventures will win big someday. I hope for her sake it happens or she's in a lot of trouble.
I have a good feeling that nothing will go wrong for a while and we can make some good progress. Cross fingers!
I'm excited about focussing on this again. I just hope nothing breaks :)
I even went to our cheapest supermarket this week (that I hate) so that I could get better value for money. I left DH behind so that he couldn't complain about that supermarket and put me off it (plus its cheaper shopping with him)!
I think I posted a while ago about a friend of mine who is in a lot of debt. When I told her I was going to follow the Dave Ramsey program and I would be debt free in a couple of years she said "jeez girl how much debt are you in". Well she confessed to me the other day she owes over $130,000k now due to a couple of failed business ventures. She's on one small income and next to no assets. Heck! Don't think I'll be taking any money advice or letting her make me feel bad about mine in future. She's got her head in the sand thinking one of her business ventures will win big someday. I hope for her sake it happens or she's in a lot of trouble.
Tuesday, March 24, 2009
Back
Sorry it has been a while since I posted. I've been feeling disillusioned. While we haven't gained debt we haven't lost any either. After Christmas we've had expenses pop up, clothes we needed to buy, family trips we needed to take and it really feels we haven't gotten anywhere. I guess in a nutshell I felt like we've been failing the past few months.
However, having said that, we are now getting back on the wagon and focusing on debt payoff again. We're hoping now that we have made these trips (3 since Christmas), replaced the mower which finally kicked the bucket for good, paid medical bills that we unexpected, etc etc we are finally on track and won't have anymore unbudgeted costs to pay for. Fingers crossed!
However, having said that, we are now getting back on the wagon and focusing on debt payoff again. We're hoping now that we have made these trips (3 since Christmas), replaced the mower which finally kicked the bucket for good, paid medical bills that we unexpected, etc etc we are finally on track and won't have anymore unbudgeted costs to pay for. Fingers crossed!
Friday, December 12, 2008
Getting motivated again
Thanks for your supportive comments. Although it's almost Christmas, I'm feeling the motivation levels build up again. I've paid down the debt to $18,550 so I'm feeling better about my situation. I should be able to get this down to $18,000 by the end of December.
We only buy Christmas gifts for about 10 close relatives and most of that is done except for some the people we won't see until January but that is all budgeted for -so I feel good that we've managed to cover off most of Christmas and still pay down debt.
I got the balance lowered by $500 on my Visa, it's my goal to keep doing that as I pay it down.
We have a holiday coming up which we will be covering out of our snowball by keeping some money aside out of the snowball over the next 2 months. It's a must-attend wedding and we'll reduce costs as much as we can. We'll still manage to pay down debt during that period but a lesser amount. Then it's fully gazelle for the rest of the year with an aim to be debt free except for the mortgage by end of 2009. I think it's more likely to be early 2010 but I'm aiming for end of 2009 anyway to try and keep myself motivated, 2010 sounds too far away!
I like looking through my blog to see where I what I was up to a year ago. This time last year I was aiming to hit the level of $25,000 of debt by year end. This year is $18k. That's down $7k in one year. That doesn't sound like enough but I'm trying not to be too disappointed, it's still a win and we did buy our house this time last year which increased our outgoings a lot. I guess it makes my goal for 2009 of $18k seem a bit ridiculous but hey, I'll still give it a try!
We only buy Christmas gifts for about 10 close relatives and most of that is done except for some the people we won't see until January but that is all budgeted for -so I feel good that we've managed to cover off most of Christmas and still pay down debt.
I got the balance lowered by $500 on my Visa, it's my goal to keep doing that as I pay it down.
We have a holiday coming up which we will be covering out of our snowball by keeping some money aside out of the snowball over the next 2 months. It's a must-attend wedding and we'll reduce costs as much as we can. We'll still manage to pay down debt during that period but a lesser amount. Then it's fully gazelle for the rest of the year with an aim to be debt free except for the mortgage by end of 2009. I think it's more likely to be early 2010 but I'm aiming for end of 2009 anyway to try and keep myself motivated, 2010 sounds too far away!
I like looking through my blog to see where I what I was up to a year ago. This time last year I was aiming to hit the level of $25,000 of debt by year end. This year is $18k. That's down $7k in one year. That doesn't sound like enough but I'm trying not to be too disappointed, it's still a win and we did buy our house this time last year which increased our outgoings a lot. I guess it makes my goal for 2009 of $18k seem a bit ridiculous but hey, I'll still give it a try!
Tuesday, November 18, 2008
A step backwards
Unfortunately our debt has gone up a little to the $19k mark. We had dental bills, car repairs and, well, life just happened. I suppose we should have been using our baby emergency fund but I just couldn't bring myself to touch it so we used the cards instead.
Anyway, we're back gazelle again now and still determined to get that debt down. One step back two steps forward right?
Anyway, we're back gazelle again now and still determined to get that debt down. One step back two steps forward right?
Wednesday, October 15, 2008
Progress being made but oh so tired of it
Debt is now down to about $18,300 and the TV is paid off. We're doing really well. Unfortunately we have a dental bill coming and a car bill so until I know how much those will be I'm not sure how much our emergency fund will be effected. Our car needs servicing badly as it's running a little rough and being such an old car we need to take care of it.
Still, we're making progress. I need to update my page more with the figures on the left and the little piggy above. I'm so busy lately that it's hard to find the time. The good news is that my job changed and I received a salary increase. That is going to help more. DH got some overtime earlier in the month too so that helped with some of our debt payoff.
I'm excited that our debt is coming down so much faster now but I'm getting a little tired of it at the same time. We're sticking to it, we haven't gone out shopping or anything but it's just getting a little draining always watching our pennies. I keep reminding myself that we might be done in a year or so if we keep at it.
Still, we're making progress. I need to update my page more with the figures on the left and the little piggy above. I'm so busy lately that it's hard to find the time. The good news is that my job changed and I received a salary increase. That is going to help more. DH got some overtime earlier in the month too so that helped with some of our debt payoff.
I'm excited that our debt is coming down so much faster now but I'm getting a little tired of it at the same time. We're sticking to it, we haven't gone out shopping or anything but it's just getting a little draining always watching our pennies. I keep reminding myself that we might be done in a year or so if we keep at it.
Wednesday, October 1, 2008
September goal review
A review of my goals for September:
1. Finish paying off the small loan done
2. Don't use credit cards used for one online purchase which will be covered when I get my bonus
3. Keep the garden going have done a lot of this
4. Top up the emergency fund a little more didn't do this, will aim to do it in October
5. Stick to the budget have done well with the budget
OCTOBER GOALS
1. Finish paying off our tv (current balance $918)
2. Use balance to top up baby emergency fund and to pay down next debt
3. Keep garden going to save us on groceries
4. Keep hunting for bargain christmas gifts at sales
5. Start menu planning more (I've not been doing this lately)
1. Finish paying off the small loan done
2. Don't use credit cards used for one online purchase which will be covered when I get my bonus
3. Keep the garden going have done a lot of this
4. Top up the emergency fund a little more didn't do this, will aim to do it in October
5. Stick to the budget have done well with the budget
OCTOBER GOALS
1. Finish paying off our tv (current balance $918)
2. Use balance to top up baby emergency fund and to pay down next debt
3. Keep garden going to save us on groceries
4. Keep hunting for bargain christmas gifts at sales
5. Start menu planning more (I've not been doing this lately)
Wednesday, September 17, 2008
Under the $20,000 mark
I am now under the $20k mark and it feels good. My goal earlier in the year was to get under $20k by the end of 2008 and I've done it in September. It's a good feeling. Now I want to see how low I can get by the end of the year. I have a bonus coming in October so that will help although it may not be very big.
Saturday, September 13, 2008
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