Monday, April 11, 2011

Mark the calendar and save the date

Now that I've spent a few weeks crunching the ugly numbers and seriously paying attention to the pennies, I'm ready to set The Goal. The date when I want to be totally free of the chain of credit card debt around our necks. Jane over at Life Doesn't Begin at Retirement says I am now an official member of the "geeky money people" club. So I must be doing something right!

We owe an enormous amount of money to 11 credit cards. The total seems insurmountable. But five of those are in BLPs and slated to be paid off in five years. So I'm going to use them as the benchmark. I have every intention of beating the others into the ground before that. So here goes:

My credit card debt free date: March 31, 2016

It sounds like a long way off. But at my age, five years isn't really that long. And I am going to make it my goal to beat that date. I know we can do it.

Thanks to all of you for inspiring and encouraging me. I'm going to beat this, one spoonful at a time.



  1. Having a goal date is so much better than just thinking, "Oh, I'll get it paid off someday.". Know you have a timeframe, you can attack it with all you have in you! Keep your chin up, and remember your new friends are here for those tough times, which WILL happen.

  2. Amazing! A Goal Date is so liberating during those times when you are sitting in the trenches thinking it'll never be over. It's a great day. I"m not sure if you have a calendar that goes that far ahead but the next thing to do is to grab the calendar you use everyday, the one you have posted on the fridge, and your work calendar and start putting little numbers in bright colours to count yourself down.

    And I wouldn't necessarily say geek, but savvy money people! sEriously thoough, who am I kidding! Welcome to the GEEK CLUB FOR MONEY! Welcome aboard! The exits are...nowhere!! You don't get off this ride until it's over.

    My Goal date is DECEMBER 31, 2011. I know you can do this. Mine felt insurmountable when I started with everything 5 years ago, but the date is no longer negotiable for me.

    Can' wait to see where the journey takes you!!

  3. Im jealous that you have a goal date! I don't. Mind you there are good reason's for that every time I put in my student debt numbers the system crashes because until Sept I am only paying interest. Then I will have my number. Once I get the number in hand I will systematically reduce it!!! So your a step of me you have your number now its time to reduce it!

  4. Great job. I think that is half the battle. It was for me anyway, not liking the whole goal setting thing. Now with something to work towards it seems more tangible. Darn you debt! You will be gone!

  5. Good for you for the "Save the Date" Ha! Love it!!

    Make sure that you give yourself credit for every milestone that you reach and each day that you do not incur debt. It gets tough sometimes.

    I have to echo the advice to read Gail Vaz Oxlade's book(s). Watching her t.v. show "Til Debt do us Part" is a huge reason that I am almost debt free forever. Her Blog is also filled with very practical advice.

    Good Luck and I will enjoy following you on your journey!

  6. Nothing like having a target date for the debt. I just found your blog and truly enjoy it. I will be adding you to my blog list


  7. Targets really work! I have set an exercise goal to pedal my stationary bike to PEI and I am almost there. Begin able to move a pin in the map each time i ride my bike is motivating.
    Watching your debt decrease one day at a time, one payment at a time (you decrease the amount of interest you owe with each and every payment) is also very motivating. I guess you could say we're on a debt slammin' high!
    P S - I found your comments in my spam - thanks for the tip!

  8. Sounds like a good date! My target date is March 31, 2015. Maybe sooner. I have to crunch a few numbers.