I was listening to a Dave Ramsey Show podcast on my way home from work yesterday, and Dave was ranting about how much debt the "normal" American has. He also said that "normal is stupid!" I couldnt agree more.
Since January 1, 2010, Todd and I have paid off $23,000 and change in debt. We have been in debt since the very moment we met in 2005. As of today, we only owe $2098 on our very last debt and I couldnt be happier. The light at the end of the tunnel is definitely coming closer and closer. I never thought we'd get this far, but day-dreamed of a time when we would.
By July 1st, we should be completely debt free (except the house). We have been able to "snow ball" over $850/month to go toward this last debt by paying off the other debts we had. Those included $375 for the property we bought next door, $227 for a car loan, Home Depot card (0% financing for a year), and $200+ for the credit card we are currently paying off. We were paying nearly half of my take home income on revolving debt payments! No more!
We killed it this month by living so tight we squeaked! I think Todd is sick of hearing me say how broke we are and then in the next sentence, how much less our credit card balance is. Even this week, we have only $95 to live off of. This month, we both had extra pay due to 5 Friday's as well as Todd getting paid a little more money for training a new guy at work.
I told Todd that if we squeak through the month of April, we could breathe a little bit in May and June to pay off the rest of the debt. May is going to be an expensive month for us due to a vacation the first weekend of May, our puppy getting fixed mid-May, and hubby's birthday the end of May (he's turning 40, so I am doing something nice for him!)
Do you have debt?
Are you working Dave Ramsey's Total Money Makeover?
How is the process going for you?