Tuesday, May 1, 2012

Debt Update, May 2012

As some readers have noticed, April was a great month for us in that we paid off our first of five debt thermometers.  It took us seven months to pay off $10,000. We are 20% of the way to being debt free since the reassessment in October (which, all things considered, is actually 60% of the way there from where we started in February of 2008).

 First 10K Chunk, started 10/1/11, FINISHED 4/28/2012!!

  fundraising ideas
Fundraising Thermometer

It's exciting and depressing both.  On the one hand, we're $10,000 closer to being debt-free.  On the other hand, we still have $40,000+ to go.  At the same pace, it will take us slightly more than 28 months to finish it out.

This kind of reminds me of an anecdote about a 40-year-old who wanted to go to medical school, but was hesitant because she thought she might be too old.  A friend and wise counsel advised, "Look at it this way:  In four years, you will be four years older, whether or not you get the degree.  Age doesn't matter.  Just set your goals and tackle them."  Or something like that.

Obviously this is a different situation, but I was thinking along the lines of this: I could complain about how long it's taking and give up and in 28 months we would still be around $40k in debt minus minimum payments, or I complain about how long it's taking, but still keep plugging away, and in 28 months we'll be debt free (God willing).  Either way, 28 months will pass, whether or not we pay down our debt.  I think I would really like to come out on the other side debt-free with a new outlook on life, no matter how long it takes, just like the woman who undoubtedly went back to medical school and came out on the other side with a medical degree, residency, and new occupation.  You know what I'm saying?

The journey of a thousand miles begins with a single step.  And all that.  Yes, it's going to take a while, but it's going to take even longer if you don't even start.  Unless of course you win the HGTV Green Home Giveaway (enter twice a day!) and take the cash option to pay off your debt and make your tithe to the church and its new building fund.  But I don't know anyone who's entering twice a day just in case, even though the odds are slim.  Nope.  Don't know a soul.  ::whistling::

On that note, we start fresh this month with a new thermometer and a depressing number 0.  But it's okay.  We'll knock it out, one buckaroo at a time.


1 comment:

Craig-Jen said...

I saw the thermometer! Congrats! I don't think it's depressing at all (easy to say since it's not my thermometer), but I do think it's inspiring actually. You know how fast Elsie has seemed to grow? Well, she's older than the 28 months it'll take to tackle the debt. You have a wonderful attitude, Erin :-)