Total Credit Card Debt Paid Off – Over $30K

Take that big bad credit card debt! We finally reached a big milestone. Two years and 9 months after starting our debt reduction journey – we have paid off over $30,000 of our debt.

That brings us to a debt total of $7,299. I’m thinking we may be able to get under the $7K mark by the end of this month. We do have some bills that can arrive at any time (medical-related). If we have extra money and those haven’t come yet, that extra money is going towards our debt. We have our savings account to pull from if needed to pay those bills when they finally arrive.

I do still have weaknesses in spending and one of them is Christmas. I love giving gifts and buying for Toys for Tots. We have a budget in place, but if they money isn’t in our account – there is no way I can spend it. That’s my safety net during Christmas.

I’m not sure what the next milestone will be. Maybe it’ll be when it’s completely paid off

Posted by Tricia on November 16, 2008 at 11:48 PM in Debt Updates | 15 Comments »
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Andy @ Retire at 40 responded:
Posted: November 17th, 2008 at 12:49 am
That’s amazing! You’ve done so well to do it less than three years. Have a big party once the whole lot is paid off, after all $37,299 is not much after $35k so you might as well wait until the end. By then you’ll be absolutely thrilled to no longer have that debt.

Top marks.
C.C. responded:
Posted: November 17th, 2008 at 2:53 am
Wow that is crazy! You must be so proud!
Kev responded:
Posted: November 17th, 2008 at 8:36 am
Wow! Your accomplishment is nothing short of amazing. You should be very proud of yourself and your family.

I reached an awesome milestone this week also! I finally paid down my debt to the point where the remaining balance is less than the amount I have in savings. Its such a great feeling knowing that I can pull the trigger any time I want to and be done with it all.
DebtFree2009 responded:
Posted: November 17th, 2008 at 9:32 am
I am so amazed that at the persistence. I’m having a hard time working on becoming debt free for just one year and here you are still motivated after 3 years. Good Job.
Craig responded:
Posted: November 17th, 2008 at 11:46 am
Hey Tricia. Congrats on all the success with eliminating debt. Of course holiday season is tough and there are so many items on everyone’s wishlist. Here is a list of resources that may help out with black Friday. Enjoy! http://www.readwriteweb.com/archives/online_resources_to_prepare_yo.php

Craig
http://www.budgetpulse.com
Budget Mama responded:
Posted: November 17th, 2008 at 3:12 pm
A big congratulations for paying that debt!! That is fantastic and that 7K will be gone in no time.
Jana responded:
Posted: November 17th, 2008 at 8:45 pm
Awesome Job! Continue on the path to $0…
Another Reader responded:
Posted: November 17th, 2008 at 10:22 pm
That’s what a second full-time income, even at minimum wage in retail can do. Imagine where you would be if your husband had worked even part time doing this over the past few years and you had thrown his earnings at the debt.

In your shoes, I would hold onto his job as long as I could and attack the debt with a vengence, just like you are doing. Don’t forget to pad that emergency fund as well, in anticipation of tougher times ahead.

Once the business starts producing a steady income, you will be in a much better position to decide who works at what and when. In the meantime, full speed ahead!
A Fool And His Money responded:
Posted: November 17th, 2008 at 10:23 pm
Excellent job!

I’ve been reading for a while now, and have found your blog very helpful in my own battle with debt and out of control spending!
Danielle responded:
Posted: November 18th, 2008 at 6:58 am
I am so happy for you! I think you could have achieved this milestone a long time ago, but I am happy for you none theless. Keep at it!
Ian responded:
Posted: November 18th, 2008 at 12:58 pm
Tricia:

That is so awesome. I can only wish for those days.
JW Thornhill responded:
Posted: November 18th, 2008 at 3:56 pm
That is AMAZING!!

You are so inspirational for me. Thanks
Nancy responded:
Posted: November 19th, 2008 at 2:55 pm
Good for you!!!!
My Crazy Debt responded:
Posted: November 19th, 2008 at 6:56 pm
You have come so far! I can’t wait to be in your shoes. Congrats and keep up the great job!

Go easy with the Christmas spending, its not worth it. What counts is the time you spend with loved ones. I know my kids always tend to remember the fun they had with cousins and the food they ate. LOL
futurich responded:
Posted: November 19th, 2008 at 7:05 pm
nicely done on that. keeep it up! ur almost there.