Let's talk about my debt.
I owe roughly $6,800 in consumer debt. That's a big chunk of change, but certainly not insurmountable. Especially since I've just been promoted (with a nice raise) and I can actually start to pay it off.
Ideally, I'd like to be completely out of consumer debt by the end of 2010. That's 14 months away, so that would be an average of $485 a month. "Not a problem," I'd say. I just threw $300 at my debt with the first fortnightly paycheck that showed my raise.
But life happens. On Saturday, my dog Lucy Fur cut one of her paw pads. $190 and one cone-headed dog later, I see why I can't count on smooth sailing from here on out. I think that the end of 2010 is a very reasonable timeframe for paying off my debts without never spending another dime, ever.
I'll update on the Debt tag once every two weeks, when I pay off another chunk. I'm going to be paying them off from highest interest to lowest (sorry Mom and Dad, your no-interest loan gets paid back last!) with the exception of a few little store cards that I can knock out with this first and my next paychecks.
10/21/09: Starting point
Seven cards for a total of $6,887.96.
10/24/09: Paycheck #1
Five cards for a total of $6,597.63.
Total spent towards debt repayment: $290.33.
PS - we'll talk about my student loan debt, uh...later.
Debt Debt Debt
October 27th, 2009 at 03:16 am
October 27th, 2009 at 01:47 pm 1256651221
Truer words were never said! Planning and presaving for these types of needs will get you down the road with fewer bumps ahead.
Hope Lucy Fur heals quickly.
You have landed in a good place here at Saving Advice to help keep you focused on your goals. Glad you found us.
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