Couple #1

Marching To Debt Freedom – Couple #1 – Month 05

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now five months into their march.  Here is this month's update.

What went well this month …

Well, it's January, and we are back on track.  I am jacked because this year we are putting a lot of debt in our rear view mirror.  Look for next month's update, big things are going to happen.  Thank you, Joe, and thanks to all with encouraging words!  It is great to do something really meaningful.  Now if I can shed about 20 lbs along with my debt.

Challenges and struggles for this month …

The challenge is being impatient.  I want to pay everything all at once.  I must remember that I did not get here overnight, and I won't be paid up overnight.  I'm Not Broke is big medicine, share it with your friends! 

Updated Debt Freedom Date …

Month By Month Progress …

Sangl says …

Couple #1 PAID OFF ANOTHER CREDIT CARD!  Couple #1 is making excellent progress.  Based upon their update this month, I suspect that they are going to be receiving a tax refund or bonus!  They also gained 1.5 months toward debt freedom!  This couple are beginning to emerge from the toughest months – the beginning months.  Pretty soon this is going to be second nature and this debt will start dropping like flies!

Think about it – Couple #1 has paid off $4,802 in just FIVE months!  That is nearly one thousand per month!  It is amazing what you can do when you have had your IHHE Moment

Readers …

Are you receiving a tax refund this year?  You might want to read the series "Best Utilize Your Tax Refund" before you spend it!

Also, take a moment to consider your own personal finance situation.  What would it be like to share it with the world like Couple #1 is?  Will you take a moment to thank them and encourage them on their journey? 

Read Previous Monthly Updates For Couple #1 HERE

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Marching To Debt Freedom – Couple #1 – Month 04

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now four months into their march.  Here is this month's update.

What went well this month …

We paid cash for Christmas, and we didn't spend as much this year.  Our kids are older, and it is not so much about the gift as it is about showing your family how much they mean to you.

Challenges and struggles for this month …

Only minimum payments were paid this month.  That means wasted interest and delayed freedom but our day will come.  2008 will be a watershed year, or should I say a debt shedding year.  I am jacked up about it.  I plan on sleeping better because I don't have to worry who I am going to pay tomorrow. 

Updated Debt Freedom Date …

Month By Month Progress …

Sangl says …

This month Couple #1 has experienced something that every single person who attempts to pay off debt WILL EXPERIENCE – They encountered a Budget-Busting Expense.  They chose (rightly) to AVOID MORE DEBT by paying the minimum payments.  This allowed them to PAY CASH for Christmas!

Think about it this way.  How demoralizing would it be for you to be attacking your debt and then have to turn back to debt because you do not have money for a budget-busting expense?  It has derailed many attempts at achieving debt freedom.  Don't let this happen to you!  Choose to do what Couple #1 did – slow down enough on the debt freedom march to have the cash on hand for your budget-busting expenses!

Way to go Couple #1!  I am FIRED UP by your progress!  You guys are inspiring THOUSANDS to take control of their finances!  I can't WAIT for your Debt Freedom Party!

Readers …

You too can PAY CASH for next Christmas!  Read the series "Save Money For Next Christmas" to avoid debt during Christmas 2008!

You can receive each post from www.JosephSangl.com FREE via E-MAIL by clicking HERE!

Marching To Debt Freedom – Couple #1 – Month 03

Introduction

Couple #1 has HAD IT with debt!  They have been married for many years and have two children.

It has now been three full months since they embarked on their Debt Freedom March!  That means that the hardest months are behind them!

On to the update for this month!

What went well this month …

I can see improvement not just in the numbers but in the actions of me and my family. The kids are starting not to hound me for things that cost so much.

Challenges and struggles for this month …

Christmas is LOOMING and I have not planned ahead.  I think what I have decided to do is to pay cash for Christmas and to pay the minimums on the debt just for this month and resume the march in Jan. This will be the last year of a Christmas not planned ahead.

Updated Debt Freedom Date …

 

 Month By Month Progress …

Sangl says …

I am FIRED UP by the progress that Couple 1 has made!  In just three short months, they have made two debts leave and paid off over $3,000 in debt!

Even more important, the family is getting on board!  The children are realizing how huge of a lifestyle change this is and are jumping on board!  There is NOTHING like a united family attacking debt.

I am thrilled to see that Couple 1 is going to start saving for Christmas 2008 in January!  It is SO MUCH EASIER to save for known, upcoming expenses over the course of months instead of absorbing the entire budget-crushing expense in a single month.

While they are going to pay less on debt, I am PUMPED to see that they are avoiding Christmas debt by paying cash!  This is so important!  As you attack debt, you will encounter expenses that threaten your ability to avoid debt.  You have to make the decision that NOTHING is important enough to go get debt.  Way to go!

Readers …

You can save for Christmas (and property taxes, annual insurance premiums, and other known, upcoming expenses) in advance as well with your own monthly escrow account.  THIS ARTICLE shows you exactly how to do it!

It is encouragement time for Couple 1.  Would you take a moment to share your thoughts with Couple 1?

You can receive each article FREE via E-MAIL by clicking HERE! 

Marching To Debt Freedom – Couple #1

Introduction

Couple #1 has HAD IT with debt!  They have been married for many years and have two children.

It has now been two full months since they embarked on their Debt Freedom March!

Here's the update for this month!

What went well this month …

The budget is in effect and being cursed daily.Smile  The debt is being taken out 1 by 1.  Two Cards are ZERO and a 3rd will fall this month The emergency fund is funded.

Challenges and struggles for this month …

It is hard because Christmas is coming ,and I have obviously not looked at a calendar.  I am going to do the best I can to go without in other areas and cut back on total Chistmas spending. This time next year I will have Christmas already funded.

Here is what their updated Debt Freedom Date calculation looks like.

You can calculate your own Debt Freedom Date by clicking HERE!
 
Sangl says …
The first three months of budgeting are the most difficult.  You are changing your spending behavior and that takes a lot of effort!  I am proud of Couple #1 for sticking to the plan!  The plan will work if Couple #1 works the plan!
 
Couple #1 gained 0.20 months toward their debt freedom over the past month, but don't miss the HUGE accomplishments!  Two of their credit cards have left AND they now have an emergency fund!  Take a lesson from Couple #1 – BEFORE you go attack debt, make sure that you save up at least $1,000 in a beginner emergency fund.  If you have kids or a house, I recommend at least $2,500!
 
A note to Couple #1 – You don't have to incur debt for Christmas!  This is THE YEAR and THE TIME that you are changing your spending behavior!  The best Christmas in the world is the one that is a blessing to you and your family.  Avoiding debt will bless your family! 
 
Way to go Couple #1, you are on your way!
 
Readers …
Would you write Couple #1 a note of encouragement – especially as to how you have avoided Christmas debt?
 
 

Marching To Debt Freedom – Couple #1

You may remember reading a few weeks ago that www.JosephSangl.com will be featuring inspiring stories of people who are marching their way out of debt.

Today, www.JosephSangl.com welcomes the first couple.

Introduction

This first couple has HAD IT with debt and are just starting out on their path toward Debt Freedom!  This couple has been married for many years and have two children.

Here is what their Debt Freedom Date Calculation looks like.

What went well this month …

Just the very act of looking where every single penny comes and goes is beneficial. We are pumped about doing this for our family.We are using cash envelopes for groceries and implementing the budget.

Challenges and struggles for this month … 

I am in one of those months where money is tight because I have not planned ahead. I am cutting spending by carving some fat out of the things we thought we needed but really don't. I am setting aside money in an ING savings account for the escrow fund. I am getting to my 2500 emergency fund ASAP. I am then going to whale away at the debt.

Sangl Says …

This is the FIRST MONTH that couple #1 has a detailed plan for every single dollar they earn.  INCOME – OUTGO = EXACTLY ZERO!!!  Couple #1 – I am proud of you, and I can't WAIT to celebrate your achievement of securing Debt Freedom!

The AWESOME thing is that TWO of your debts will be leaving THIS MONTH!!!!  Next month, you will be able to apply those payments to the Wells Fargo Credit Card! 

Readers – Would you write some notes of encouragement for this couple as they step out of debt together?

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