OMG the things we have learned in the past 6 months! How I wish I had learned them so many years sooner. How I wish I had been a better teacher of these things to our older kids!
All I can do now is show them a new way and hope they learn more quickly than I did.
So June 30 was the last day of the first six months of our new way of life. Today I tallied up our results and I am blown away by all we have accomplished!
When I did our very first debt snowball calculation on January 1,2008 things looked pretty bad. The expected payoff for all our debt (except our mortgage) was 49 months. Ugh! 49 months! Doesn't that sound like an eternity?
But sooner begun, sooner done!
So we dug in and started squeezing the life out of every penny we could get our hands on. We cancelled gym and video memberships. We switched utility companies and plans to get better rates. We finally got a GREAT mortgage rate. We put ourselves on a tight budget while still allowing for living.
I am proud to say that 6 months into this thing we have shaved
$14, 954.61 and TWELVE months off our debts!
We will now be debt free in 37 months!
And we have savings for things that used to be considered crises.
I am so proud of us!
And we're both pumped up to see what we can accomplish in the next 6 months.
Our goal is to be debt free by 1/1/11 (8 months ahead of the current snowball) but at the rate we're going we might have to bump it up even more!
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2 comments:
Holy crap woman, teach me the way!!
Wow, you guys are doing so great! I am very motivated by your successes!
We haven't really figured out the living part of the budget yet, It's hard to say I will spend x amount of money on my hair, or on boating, or on plane tickets this year... Too many decisions, it's a work in progress.
You have the tight budget and the cash envelopes and are selling things to make money and everything! And it's nice to see you are able to go and do things for fun as well!
BE the gazelle! Run, Run, RUN!!!
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