Monday, August 3, 2015

Still here!

I haven't been around much this summer. Just didn't have a lot to say. Things are plugging along. Still in debt. Still making payments and headway. I updated my numbers this morning. Only shaved off a little over $1,000 in July. Not our best month, for sure. We ate out more than we should and celebrated a couple of birthdays. I also had a stack of medical bills from my unexpected round of biopsies and tests etc. Those really ate into the budget.

But as I sit here looking at the numbers, I'm OK with where we are. Back in 2011, when I started this blog, the two Chase credit cards were at $22,000 and $24,000. Seriously. They kept me up at night. I remember someone from Chase offering to take $15,000 to settle the larger one in full. I actually laughed at her. I mean, if I had $15,000 sitting around, I probably wouldn't be in this predicament. So Chase offered a 5-year fixed repayment plan and we agreed. What choice did we have? We took it and began paying $789 a month just for those two debts. Our mortgage payment is $825, just to put that in perspective. But we scrimped and pinched pennies until they were bleeding. At first, it didn't seem possible, especially on top of all the other payments. The stress wasn't any better because I still didn't know where the money would come from. But as time went on and we made dents in other debts, even paying off a few, it got a little better. Pay raises and some extra work for me helped. And now here we are, having paid off more than $40,000 of those two debts. We will make our last payments in March 2016. That's eight months away. Can. Not. Wait.

Dave Ramsey likes to say it is possible to get out of debt in less than two years. I wish. But I sure will be glad to kiss Chase goodbye!

Sarah

14 comments:

  1. I am still here 6 years later....albeit we have added debt along the way. But progress is progress and I think you are amazing.

    ReplyDelete
    Replies
    1. At least we're going in the right direction, Mysti ... we will get there one day!

      Delete
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  2. You keep me going, I just want to give up sometimes.

    ReplyDelete
    Replies
    1. I want to give up every day, but it's not an option. I just want some of your energy.

      Delete
  3. So pleased for you. It seemed monumental to begin with but you just kept plugging away month after month. You've come a long way!!

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  4. You have made amazing progress! Every month, your ticker moves to the right and I cheer for you.

    ReplyDelete
    Replies
    1. Thanks, April! The encouragement here has been so incredible.

      Delete
  5. You've got this. I've been in and out of debt for 9 years. You can do this. You've made HUGE progress already. Just think, after March, you'll be able to snowball a good chunk of that $789 into your other debts and start really making headway on them. Not to mention, give yourself a little breathing room after 6 years as well.

    You've got this! Hang in there! You are getting there!!!

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  6. Being able to pay down over $1000 in one month seems like a great step in the right direction to me. I assume that before you started on this focused journey that would have seemed an impossibility. Whatever was spent on the medical bills was a necessity - health is important. And what's really awesome is that you were in a position to be able to pay those bills rather than adding them to a credit card.

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  7. Wow man that's pretty tough. Im glad your still positive about the situation though. Very few people have the dedication and drive to overcome debt that your showing. I hope it keeps going well!

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  8. That is correct. You may not be able to pay a lot every month, but it's the dollars and pennies that you bring out that matters, no matter the amount. Just make it a habit; press on, and eventually that debt will be wiped out. Good luck!

    Naomi Cruz @ 4 Pillars

    ReplyDelete

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