My wife and I sat down this week and decided rather than hoping we could end our debt snowball sometime in February that we should just bust it and complete it by the end of January. The problem is after this months extra payments and what not we need to come up with $8572.91 to make that happen or $190.51 a day. That’s a lofty goal but we’re up for the challenge. We’ve done quite well since January of 2009 when we began our financial reckoning, paying down our outstanding debt from a starting point of $63,535.65. Yeah that’s right $54,962.74 taken care of in just under a year! I’m proud of us for that considering where we where just a year ago it’s all been worth it. You really can’t go wrong paying down your debt. I’ll save the recount of how we got this far in my victory post in January. That’s right I’m claiming it, January 31st Debt free. Except for the house.
Where will the Money Come From?
That’s an excellent question that I hope we can answer. We’ll be able to squeeze approximately $3000 from my paychecks in January so we’ll need to find alternate sources to raise the $5500 and change. I haven’t done our full January budget yet, but we may be eating a lot of Top Ramen and Mac and Cheese. I have a motorcycle that I’ve decided to try and sell at arguably the worst time of year but it’s worth a shot to get this done. That does hurt a little but it’s part of the reason we had so much debt, I love toys. I also have a utility trailer that I’m going to sell as well. After that it’s an Ebay extravaganza closing out various items we have left around the house. It’s going to be tight but as we come towards the finish line of this particular race. It’s going to take some serious hustle but I believe in us. The most important part is that we’re in this together, we have a plan and we’ll execute. It’s so important that you and your significant other are on the same page with these goals. But I digress. I’ll document how we’re doing along the way but wanted to share with my readers our plan of attack. Have any ideas or tips you’ve got I’d love to hear them.