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Debt Count Down!

post #1 of 26
Thread Starter 
If you are currently working at paying off a specific debt post it and your "count down progress" here each time you pay some of it off and we can help you celebrate.

For instance ours would be our Credit Card right now. It's at $1500.00 I'm getting ready to pay $550.00 on it due to tax return. So I'll be at $950.

So:
$1500
-$550
_____
Only $950 to go!!!! woohoo!

This might be a good one to have as a "Sticky" at the top, I'm guessing a moderator has to do that?

Brenda
post #2 of 26
This is a great idea to have stickied. Way to go on your debt too!
post #3 of 26
Good job!! I have to compile a list, and get our taxes finished, and keep up with the house.... hmmm, I will have to get back to you!
post #4 of 26
Great idea. I would have to say ours is our truck payment. I do NOT like having a vehicle payment and will NEVER have one again!!! We have been working so hard to pay it off. I will have to check the exact amount left and repost later. I think it is 9800.00 left, down from 23000.00 so we have made it a long way in 2 years but, I want it GONE!!! Next time we need a new vehicle we will have saved for it prior to buying it. NO MORE LOANS for us!!
If we can't afford it then we don't get it.
post #5 of 26
Oh! We are putting 3000 towards our mastercard this month!!!! Hurray!
post #6 of 26
The debt we are working at is hubbies car loan. In January I paid an extra 1000.00. Now we owe 1472.62. Not sure how much extra I can pay this month. But will post when I can. This is a great idea. Its wonderful to see accomplisment in writing.
post #7 of 26
I'm trying to pay off a ton! As we pay one off we add the old minimum payment onto another debt so we can slash through interest as fast as possible! It's called the accelerated method:

2nd Mortgage: 17, 560.22
Student Loan 1: 13,966.22
Credit Card: 6,411.92
Car: 5,259.60
Loan from Parents (no interest): 4,593.00
Student Loan (no interest): 2,944.00
Furnature Loan: 1,245.00

(Just finished paying off the medical bills and a smaller credit card!)
We are now putting the extra money on the furnature to free up an extra 150$ a month that can go towards the car (skipping up to the interest loans and only doing min on the non interest for now)

By adding 150$ a month to the car payment we're going to save a ton of money and knock over a year off the loan!
post #8 of 26
We are trying to pay off dh's car loan. Once we get that paid off it will free up an extra $500 a month to put towards our house fund. It was 8600 just this morning and we put 1100 on it and now we are at 7500. We will pay it off by June/July (almost 1.5 yr early) by making huge payments on it. The 1100 we just put on it today is the smallest payment we'll be making on it. The next few months we will be making closer to 2000 payments. After it's paid off, all of the money we are putting into paying that off will be free to go towards savings, which we are so excited about.

I really wish we had started getting serious about all of this stuff sooner.
post #9 of 26
What a great idea! I'll have to talk to dh & pick one of our debts to work specifically on.
post #10 of 26
I like this idea! I may have to look at our finances and pick one specific debt to work on.
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