Since I’ve started blogging in February, my credit card debt has been reduced by $3,544 (the credit card report has been updated as well in my progress to date). Thanks everyone for helping to keep me motivated!! I am seeing a change in my debt situation and I like it 
Things were made even better yesterday when my husband’s mom called. She just got the $1,775 check in the mail for the loan they gave us when we purchased our home. I guess she really didn’t need the money and she said she wrote all over the check voiding it and will be sending it back. I guess her bringing up the loan didn’t mean they needed it. We were also told it was officially a gift.
If you happened to stop by late last night you would have noticed that my net worth actually increased even further to $-50,240. I went in and updated the numbers. I’m only $240 away from reaching the $-50,000 mark. Woohoo!
Overall, April was a great month and May is off to a great start as well. My tax returns have been a great “booster” to paying down some debt. Going forward, it’s all going to be about cutting costs, being frugal and living simple. I have to devote a large chunk of my income to debt if I want to reach my goal. I also may be looking into ways to consolidating my debt to obtain lower interest rates.
Stay tuned
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About This Site
My Debt
- Original Debt: $38,495.86
- Added Debt: $1,781.50
- Total Debt: $40,277.36
- Paid: $36,084.36
- Remaining: $4,193.00
- Broken Down
- Auto Loan 1: $0.00
- Credit Card: $0.00
- Student Loan: $4,193.00
- Auto Loan 2: $0.00
- Vet Loan: $0.00
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Posted: May 4th, 2006 at 12:36 pm
You are making good progress! Keep up the hard work and I bet you reach your goal by your target date!
Posted: May 4th, 2006 at 7:58 pm
Glad to hear the news about the loan. I am sure that made your day. Keep up the good work!
Posted: May 6th, 2006 at 9:19 pm
Thanks you two for your words of support!
Posted: July 20th, 2006 at 9:17 pm
[...] Thanks to the loan from the in-laws that turned into a gift last week – Credit Card #2 has received an extra $1,775 and the balance is now under $20,000! [...]
Posted: August 6th, 2006 at 10:07 pm
[...] NOTE: Since originally publishing this post, I had to update my net worth. Something I thought was a loan (and I paid) ended up being a gift. For the new net worth as of 4/30/06, please see my post here. Thanks [...]