This couple is THROUGH with debt! It has now been four months since they announced to their debt that they are breaking up with it!
Here's this month's update!
What went well this month …
This month was a good month. We planned ahead for things that were going to cost us money (2 weddings, a birthday and a baby shower). We also worked on our Christmas shopping this month…started early…and paid in CASH!! It was GREAT!!
Another great thing about this month is we didn't even realize it was pay day until we saw the money deposited in our bank account. Planning ahead and scheduling all of our bills at the beginning of the month frees us from worrying about when the next check is coming in. In other words, we are not living pay check to pay check anymore.
Oh yeah, I almost forgot, we paid off another credit card…3 down, 1 to go!!
Challenges and struggles for this month …
Just like the past couple of months we have struggled with making our cash envelopes stretch until the end of the month. But, it helps us practice saying NO!!
We overspent on our gas this month by about $60. When we planned the trips to the two weddings we did not incorporate the cost of gas; one was in NC and the other in Tenn. And we had Thanksgiving in Georgia. I did not think about the extra gas we would need this month. We have to go to Florida for Christmas and we are going to budget gas money for the trip. I won't forget about the extra gas money from now on, that's for sure!!!
Here is their updated Debt Freedom Date calculation …
Month By Month Progress …
Sangl says …
Couple #2 discovered that they owed less on vehicle 2 and that reduced their debt owed by nearly $3,000, but they still were able to reduce actual debt by nearly $1,800! I am FIRED up to see that the Providian card has left! Another CC bites the dust!
The challenge now is to pay off the Disover card. If they pay $325/month, it will take over a year to pay off this debt! That is a long time and it could really challenge Couple 2 to stick with their plan. I would really like to see Discover leave sooner because regular victories are so key to sticking with this plan!
Here's to hoping that a Christmas bonus or Tax Refund is in their future!
I am also PUMPED up to hear that Couple 2 is no longer living paycheck-to-paycheck! I remember the day that I stopped living paycheck-to-paycheck. I still have that feeling of relief and stress reduction.
Way to go!
Couple 2 has made great progress! How is YOUR debt freedom plan going?
Would you share with Couple 2 your thoughts on how their willingness to "put it all out there for the world to see" is inspiring you to embark on your own Debt Freedom March?