Comments on: Keeping Motivated to Become Debt-Free http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/ Our Journey to a Debt-Free Life Sat, 21 Nov 2009 08:35:00 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: ValMakingProgress http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-396807 ValMakingProgress Thu, 21 Feb 2008 03:13:35 +0000 http://www.bloggingawaydebt.com/?p=122#comment-396807 Hi - This Weekend I will be making my final payment to one of my cc - it is the lowest. Back last fall - I thought I was "doing" the debt snowball. In actuality however, I was not making any progress. I had been "using my house like an ATM" by using the line of credit attached to my checking accnt from my HEL (home equity line of credit) and racking up debt on that... to cover monthly expenses. I was tired of "feeling like" I was making progress but not actually getting anywhere. SO Last month I went online and used a calculator for the debt snowball. I included this debt: Our cars (x2) $22.5K and $12K HEL ($19K) CC x 2 ($13K + $1.5K) This added up to... $68.5K If I include $800-900 with the minimum payment and continue to snowball the minimums into the next payment - amazingly all this debt will be GONE in 26 months. SO last month was my first month - so I paid $989 on the smallest credit card.. This month - I will pay off the smallest card. And start rolling extra money onto the $13K card. I feel like I am getting ready to run a marathon or something. Or like I am a little tiny mouse in front of a BIIIG mountain! I have been in debt for SO long and made so many bad decisions - but honestly by just paying off this one card I can see that there is a way out. There is a log cabin in my area where I live on 5 acres for $325K - of course at this point we are in no financial position to buy a house like this which is our dream house BUT the thought that if we keep on track in 7 or 8 years we CAN buy our dream house - possibly mostly in cash. I am so excited for my future and really just ready to let go of the debt...which is serving no purpose... Thanks for having this blog!!! Hi – This Weekend I will be making my final payment to one of my cc – it is the lowest. Back last fall – I thought I was “doing” the debt snowball. In actuality however, I was not making any progress. I had been “using my house like an ATM” by using the line of credit attached to my checking accnt from my HEL (home equity line of credit) and racking up debt on that… to cover monthly expenses.

I was tired of “feeling like” I was making progress but not actually getting anywhere.

SO Last month I went online and used a calculator for the debt snowball. I included this debt:
Our cars (x2) $22.5K and $12K
HEL ($19K)
CC x 2 ($13K + $1.5K)
This added up to… $68.5K
If I include $800-900 with the minimum payment and continue to snowball the minimums into the next payment – amazingly all this debt will be GONE in 26 months. SO last month was my first month – so I paid $989 on the smallest credit card..

This month – I will pay off the smallest card. And start rolling extra money onto the $13K card.

I feel like I am getting ready to run a marathon or something. Or like I am a little tiny mouse in front of a BIIIG mountain! I have been in debt for SO long and made so many bad decisions – but honestly by just paying off this one card I can see that there is a way out.

There is a log cabin in my area where I live on 5 acres for $325K – of course at this point we are in no financial position to buy a house like this which is our dream house BUT the thought that if we keep on track in 7 or 8 years we CAN buy our dream house – possibly mostly in cash.

I am so excited for my future and really just ready to let go of the debt…which is serving no purpose…

Thanks for having this blog!!!

]]> By: How To: Motivate Yourself Into Financial Responsibility « Bourgeois and Broke http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-75589 How To: Motivate Yourself Into Financial Responsibility « Bourgeois and Broke Wed, 27 Jun 2007 12:16:51 +0000 http://www.bloggingawaydebt.com/?p=122#comment-75589 [...] Get committed. Make yourself a promise to do this and give yourself milestones along the way so you know you’re getting to your destination. [...] [...] Get committed. Make yourself a promise to do this and give yourself milestones along the way so you know you’re getting to your destination. [...]

]]> By: Staying motivated to pay your debt | Foximus Internet Business Blog http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-54182 Staying motivated to pay your debt | Foximus Internet Business Blog Tue, 29 May 2007 03:01:43 +0000 http://www.bloggingawaydebt.com/?p=122#comment-54182 [...] motivation for this venture began when she wrote a list of 10 ways to keep herself on track. I especially agree with number 6: “Add Up All of Your Monthly [...] [...] motivation for this venture began when she wrote a list of 10 ways to keep herself on track. I especially agree with number 6: “Add Up All of Your Monthly [...]

]]> By: Brush With Extinction » Blog Archive » Week 1 – What is this all about? http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-50090 Brush With Extinction » Blog Archive » Week 1 – What is this all about? Tue, 22 May 2007 08:26:55 +0000 http://www.bloggingawaydebt.com/?p=122#comment-50090 [...] same time I was reading some personal finance blogs that talked about the utility of a blog to keep focused on a goal and I had another epiphany (naked Greek mathematicians have nothing on me!). I would set up a blog [...] [...] same time I was reading some personal finance blogs that talked about the utility of a blog to keep focused on a goal and I had another epiphany (naked Greek mathematicians have nothing on me!). I would set up a blog [...]

]]> By: What’s Keeping Me Motivated to Pay Off Our Debt : Blogging Away Debt http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-26755 What’s Keeping Me Motivated to Pay Off Our Debt : Blogging Away Debt Sun, 11 Mar 2007 16:20:21 +0000 http://www.bloggingawaydebt.com/?p=122#comment-26755 [...] in April of last year, I sat down and wrote a list of 10 things that keep me motivated to become debt-free. I still do all of those, but as the days are turning into years I am finding that I zero in on [...] [...] in April of last year, I sat down and wrote a list of 10 things that keep me motivated to become debt-free. I still do all of those, but as the days are turning into years I am finding that I zero in on [...]

]]> By: Tricia http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-664 Tricia Wed, 09 Aug 2006 02:57:42 +0000 http://www.bloggingawaydebt.com/?p=122#comment-664 Hi Tony & Kate, Yes, I do live in the UP. We love it here too, and that's why we stay living here. It's just a beautful place to raise our son and we love the slower pace of life. We left for a little bit and came right back. We love the lake :) Hi Tony & Kate,

Yes, I do live in the UP. We love it here too, and that’s why we stay living here. It’s just a beautful place to raise our son and we love the slower pace of life. We left for a little bit and came right back. We love the lake :)

]]> By: Tony & Kate Manos http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-662 Tony & Kate Manos Wed, 09 Aug 2006 00:24:07 +0000 http://www.bloggingawaydebt.com/?p=122#comment-662 I read Scott Burns article today and I have a question: Do you live in the UP and where? My wife was stationed in Marquette years ago and we love it there. Congratulations on your productive way to live debt free! I read Scott Burns article today and I have a question: Do you live in the UP and where? My wife was stationed in Marquette years ago and we love it there. Congratulations on your productive way to live debt free!

]]> By: Tricia http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-612 Tricia Sun, 06 Aug 2006 15:36:29 +0000 http://www.bloggingawaydebt.com/?p=122#comment-612 Hi Latashia, I just wrote a post that should help you get started. You can find it here: <a href="http://www.bloggingawaydebt.com/2006/08/in-debt-and-want-to-start-a-blog-heres-how/" rel="nofollow">http://www.bloggingawaydebt.com/2006/08/in-debt-and-want-to-start-a-blog-heres-how/</a>. I found that blogging keeps me on track. If you do start your blog, please let me know. Support can mean so much. If you have more questions, feel free to send me an email. Hi Latashia,

I just wrote a post that should help you get started. You can find it here:

http://www.bloggingawaydebt.com/2006/08/in-debt-and-want-to-start-a-blog-heres-how/.

I found that blogging keeps me on track. If you do start your blog, please let me know. Support can mean so much. If you have more questions, feel free to send me an email.

]]> By: Latashia http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-605 Latashia Sun, 06 Aug 2006 13:18:15 +0000 http://www.bloggingawaydebt.com/?p=122#comment-605 You made a lot of good points. I just started trying to get out of debt, but starting a blog is not such a bad idea. I just do not know how to do that. It would be highly appreciated if you could tell me how. You made a lot of good points. I just started trying to get out of debt, but starting a blog is not such a bad idea. I just do not know how to do that. It would be highly appreciated if you could tell me how.

]]> By: Blogging Away Debt » Blog Archive » Carnival of Debt Reduction #32 is Up! http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-465 Blogging Away Debt » Blog Archive » Carnival of Debt Reduction #32 is Up! Fri, 21 Jul 2006 02:49:59 +0000 http://www.bloggingawaydebt.com/?p=122#comment-465 [...] For all of those fighting debt, the weekly carnival of debt reduction is a must-read. My contribution this week is my post on Keeping Motivated to Become Debt-Free. [...] [...] For all of those fighting debt, the weekly carnival of debt reduction is a must-read. My contribution this week is my post on Keeping Motivated to Become Debt-Free. [...]

]]> By: Blogging Away Debt » Blog Archive » I’ve Joined the No Credit Needed Network http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-460 Blogging Away Debt » Blog Archive » I’ve Joined the No Credit Needed Network Fri, 21 Jul 2006 02:23:36 +0000 http://www.bloggingawaydebt.com/?p=122#comment-460 [...] I believe a big part of keeping motivated to become debt-free is to find others in similar situations and to stick together and support each other. It turns out, there is a great website out there offering such a place and I have recently joined the No Credit Needed Network. [...] [...] I believe a big part of keeping motivated to become debt-free is to find others in similar situations and to stick together and support each other. It turns out, there is a great website out there offering such a place and I have recently joined the No Credit Needed Network. [...]

]]> By: Blogging Away Debt » Blog Archive » April Monthly Debt Payments http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-448 Blogging Away Debt » Blog Archive » April Monthly Debt Payments Fri, 21 Jul 2006 00:28:18 +0000 http://www.bloggingawaydebt.com/?p=122#comment-448 [...] I’ve mentioned before how it can be a motivator to add up all of your minimum monthly payments to debt. For me, seeing that number helps me realize how much money could be available for other things in life, like saving for retirement. That’s something I hope to be able to start soon. [...] [...] I’ve mentioned before how it can be a motivator to add up all of your minimum monthly payments to debt. For me, seeing that number helps me realize how much money could be available for other things in life, like saving for retirement. That’s something I hope to be able to start soon. [...]

]]> By: Blogging Away Debt » Blog Archive » I Wish Those LCD HDTVs Would Quit Calling My Name http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-399 Blogging Away Debt » Blog Archive » I Wish Those LCD HDTVs Would Quit Calling My Name Sun, 16 Jul 2006 15:45:26 +0000 http://www.bloggingawaydebt.com/?p=122#comment-399 [...] I briefly mentioned how HDTVs are tempting in my Keeping Motivated to Become Debt Free post. I mentioned that back in April and here it is July. They are still so tempting. [...] [...] I briefly mentioned how HDTVs are tempting in my Keeping Motivated to Become Debt Free post. I mentioned that back in April and here it is July. They are still so tempting. [...]

]]> By: Doug Pedersen http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-96 Doug Pedersen Sat, 03 Jun 2006 15:05:00 +0000 http://www.bloggingawaydebt.com/?p=122#comment-96 Awesome post! I got out of debt, but I started my blog to force myself to maintain the discipline of investing. Awesome post! I got out of debt, but I started my blog to force myself to maintain the discipline of investing.

]]> By: Chitown http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-95 Chitown Mon, 24 Apr 2006 20:45:00 +0000 http://www.bloggingawaydebt.com/?p=122#comment-95 Great post!!! Great post!!!

]]> By: pfblogs.org http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-94 pfblogs.org Mon, 24 Apr 2006 10:12:00 +0000 http://www.bloggingawaydebt.com/?p=122#comment-94 Great suggestions, and thanks for mentioning pfblogs.org! Great suggestions, and thanks for mentioning pfblogs.org!

]]> By: Mountain Girl http://www.bloggingawaydebt.com/2006/04/keeping-motivated-to-become-debt-free/comment-page-1/#comment-93 Mountain Girl Sun, 23 Apr 2006 19:53:00 +0000 http://www.bloggingawaydebt.com/?p=122#comment-93 You are so right! I started my blog to get and keep myself motivated and it has done wonders. Blogging daily forces me to focus on my finances daily, too. You are so right! I started my blog to get and keep myself motivated and it has done wonders. Blogging daily forces me to focus on my finances daily, too.

]]>