Hey y'all. So, here's my story. I am 32 years old and have had a few different careers before settling on the one that I will keep for the next 24 years. So, last year I was in an emotionally and financially draining relationship. I was making approximately $3,000 a month, but always had more month at the end of my money (reference to Dave Ramsey.....If you don't know of him, or haven't ever heard of Dave Ramsey, check him out). My bills far outweighed my salary and I was truly living paycheck to paycheck.
It wasn't until the beginning of Augut 2010 that I heard Dave Ramsey on the radio and just had to do some research as to why these "crazy" people were calling in and screaming, "WE'RE DEBT FREE!!!!"
Forward a few weeks and some research on the internet. I purchased one of his books and will be following his plan fully starting this month (October 2010).
Here is a breakdown of all of my debt:
Medical/Dental: $100.00
CreditOne Bank(CC): $119.71
Family Loan: $200.00
CareCredit(CC): $475.12
Verizon: $674.19
Aaron's(TV): $687.17
Citibank(SL): $2,819.98
CNAC(CarLoan): $2,829.33
RMS(Collection): $5,630.00
Judgement: $17,000.00
NelNet(SL): $21,556.91
SallieMae(SL): $55,776.91
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So, yeah...there you have it: A complete breakdown of my financial situation (or lack thereof). These are only my outstanding debts and does not include my household operating costs associated with mortgage payment, utilities, etc. CC means a debt associated with Credit Cards and SL is a debt associated with a Student Loan. So, all in all my outstanding debt is a WHOPPING $107,869.32. Wow, that shocks me even having to look at it on paper (and on screen).
I am hoping that, even if I do not receive any visitors to my posts, this blog will keep me accountable for paying down my debt following the Dave Ramsey Method.
Please check in and I will update you all as my debt dwindles down and down.
Introduction
September 30th, 2010 at 08:18 pm
September 30th, 2010 at 08:43 pm 1285879405
September 30th, 2010 at 08:47 pm 1285879626
Welcome! I look forward to following your journey to debt eradication. I've been here for several years, starting out with my financial irresponsibilities (living paycheck to paycheck and trying to stretch one income for a family of seven). Through the process of blogging, I've uncovered some of my deeper ambivalence about money and feeling that I was the sole responsible one in my marriage, but we've made great strides (as a couple have better communication) and are no longer paycheck to paycheck. Point of my ramble ... you'll get a lot more than you think if you continue to blog your way through your money journey. Plus you'll enjoy the great atmosphere here amongst your fellow SA bloggers. WELCOME!
September 30th, 2010 at 09:04 pm 1285880641
September 30th, 2010 at 09:22 pm 1285881728
September 30th, 2010 at 09:39 pm 1285882782
September 30th, 2010 at 09:42 pm 1285882948
October 1st, 2010 at 12:21 am 1285892475
October 1st, 2010 at 12:50 pm 1285937422
And, it is very sobering when you add up all your debt. I have a great calculator on my sidebar that I use for my debts and it shows that I can be debt free in 27 months if I stick to the plan. The link is:
http://www.whatsthecost.com/snowball.aspx
in case your interested.
October 1st, 2010 at 01:22 pm 1285939363
Good Luck!
October 1st, 2010 at 02:34 pm 1285943662
October 1st, 2010 at 06:21 pm 1285957314
I even went to one of his live events in Houston one time. Awesome!
I look forward to reading about your progress.
October 1st, 2010 at 07:14 pm 1285960471
I'm also starting the DR program as of Oct 1.
October 1st, 2010 at 08:16 pm 1285964218
Jerry
November 2nd, 2010 at 05:53 pm 1288720438