Wow, November is going by SO fast!!If you have been reading our financial updates (HERE, HERE), you know we started our debt snowball in September. Here are some of our goals:
Baby Step #2 – Debt Snowball
Credit Card #1 – September 2009 - DONE-9/11
Credit Card #2 – December 2009 - DONE-11/23
Car Loan – September 2010
Student Loans – March 2011
Our goal was to have CC#2 paid off by December. Well, luckily, we were able to pay this completely off in November. So Brian and I officially have no more credit card debt!! Yay!! It is such a great feeling to not owe any CC companies money! And with the debt snowball, all that money can go to paying off other things.
The beauty of the "debt snowball" is to start with your smallest debt, and once that is paid off, the money you were using to pay that off can now go to the next biggest thing. So all we have left is 1)Car Loan & 2)Student/School Loans. Actually our school loans aren't that much, but we don't have to start paying these off for a year or so, so we decided to start on the car...get that paid off, then start on the school loans. It's going to be a great feeling paying a HUGE chunk off on our car each month!
Total Debt Paid Off: 30.53%
That is AWESOME! Good job!!!
ReplyDeletehi Leah,
ReplyDeletethis id diana Delira
This is great but how are you doing this?
we have25,000.00 in debt and im going crazy
and late on our home payment for 1 month... Please give advice