Friday, March 20, 2009

2009 Financial Round Up progress note

I've been meaning to update the blog about my debt reduction for awhile. My family is on what we call the "Debt Reduction Plan 2009". This amounts to using a cash envelope system, buying with coupons and calling it quits with buying things we don't need.

Here is what we have accomplished in 2009 so far! We have paid off a small loan to family and paid off the credit card which had the new washing machine on it. (Our washer died for good on Christmas Eve or Day~can't remember which). My hubby loves to show visitors his 'snow blower' next to the dryer. Hey, we could live without the snow blower, but not a washing machine:)

We are currently throwing all our extra money at Dave's car loan to pay that off. My goal is to be done before the end of June, which I think is positive. We used most of our tax refund paying down debt.

Once his car is paid off, then it's on to the van loan and my student loan. We have got to get rid of these bills. It has gone on way too long!

Overall, we are right on track with our payments. I had planned to own the car by June and that is possible. I estimate it will be another 1 1/2 years to pay off the rest, especially once I looked up the payoff values on both outstanding loans. Yikes.

How are your goals doing? I know Julie is on track, she let me know she is on her own debt reduction plan. Way to go! Leave me a comment!

1 comment:

  1. When you are done-how about paying my bills??? Your loving mother.