Sunday, January 1, 2012

New Year Debt Update

Just a quick New Year's Day debt update. As predicted, we didn't do much more than pay minimums on loans in December. But, we did pay cash for all of Christmas (including gifts, gasoline, baking ingredients & gift packaging, postage, etc.), cash for much-needed car repairs, and cash for Eli's trip to Scotland to see his best friend.

First 10K Chunk, started 10/1/11
fundraising ideas
Fundraising Thermometer

And we have a revised plan for debt repayment. I'm bound and determined to be debt-free except for the house before I'm 35 or before Elsie starts kindergarten. That's the same year--2014--just different parts of the year. That's under three years.


I've looked at our budget and trimmed some fat. Without really stretching we can put double our minimum payment every month toward debt reduction by cutting some things that are luxuries. It just awaits final approval from the husband when he returns from his overseas adventure at the end of the week.

My general philosophy on this type of thing is that anyone can do anything for a limited amount of time. Two years really isn't a long time. I mean, the four years since we took FPU have flown by, so what's two more?

And based on this plan, we can blow this thermometer out of the water by the end of April. Something to look forward to!

1 comment:

Craig-Jen said...

been keeping up with your blog, but not commenting. I saw the debt thermometer inch upward again!!!

Keep on keeping on!