$10,000 Down!

Just excited and wanted to share.
We have been following our own little modified version of Dave Ramsey's advice on debt. (Can't talk the wife into fully committing to the plan, Lord I've tried!)
We set up our emergency fund and just over the weekend payed off $10k in credit card debt. We've got around $5,000 left but now that the largest part is gone the rest should be easier. Then we'll move to killing our car payments.

Just getting rid of the credit cards will free up $400 a mo.

Congratulations!!

Thanks Nanci!

Holy cow, well done! How are you doing it?

That's amazing! Well done

Good for you. We finally got out house paid off last fall. It is a good feeling.

Congrats! I hope you knock the rest of that debt out quickly! We have also been reevaluating our lifestyle. Directv ($120 mo.) GONE. Switching car insurance ($150 mo. savings). Smartphones, completely unnecessary, will be gone come September with $90 mo. saving on data charges. It's long past the time for us to start cutting some unnecessary spending. Good Luck!

Originally Posted by Myca

Good for you. We finally got out house paid off last fall. It is a good feeling.

Awesome job!

Originally Posted by LMS68

Holy cow, well done! How are you doing it?

We consolidated most into one payment using a third party and made it easier for us. They charged $16 a month as a fee though. That was the just over $10k we paid off. We were also making larger than the required payment.
While doing all this we were also setting aside $75 bi-weekly to build up a "emergency" fund of $1,000. This was important because if something were to happen (and it did) we would have cash on hand rather then needing to use credit for said emergency. (wife had to go to the hospital while on vacation with her mom).

Originally Posted by Joba

Congrats! I hope you knock the rest of that debt out quickly! We have also been reevaluating our lifestyle. Directv ($120 mo.) GONE. Switching car insurance ($150 mo. savings). Smartphones, completely unnecessary, will be gone come September with $90 mo. saving on data charges. It's long past the time for us to start cutting some unnecessary spending. Good Luck!

I would LOVE to do away with cable. I never even had cable when I was single then for a couple years with the wife but she finally bugged me enough to get it.

Phone plans are a tough one. She's the one that wants to cut them but I LOVE having the internet at my finger tips, lol.

Also, one thing that has helped is budgets and sticking to them.

Thanks again to all for the congrats. And congrats to Myca! That is awesome.