Well not only am I trying to limit the groceries which we purchase and try to spend a lot smarter during the course of a month – as you may know I’m also trying desperately to reduce my debt – this debt being my line of credit, and any credit cards.
My first update was back in June 2009 and at that time I told myself that I was 12.07 months from being out of debt (keep in mind this is line of credit and credit cards – obviously not mortgage). As with most things, there are obstacles along the way – and with my budget there certainly were some obstacles (Hunters surgeries being two fairly large ones!).
My next update was in July 2009 and at that time I was 9.85 months from being out of debt. Pretty darn good,I can’t quite remember what I was able to do to decrease the amount of debt as quickly in a month – but obviously I had a very inexpensive month.
In September of 2009 I posted another debt repayment update and although I didn’t post how many months were left on my debt, I did post that I had paid off over $3700 of my debt. It’s funny how you accumulate debt by buying things that you want or need to have or purchase, but it’s always such a pain in the neck trying to pay it off eh? In September I had 7.5 months or so left – so I was right on track.
Then came January 2010, which was my last update I’ve posted on my debt repayment. At that time I had paid off $6118 of debt which (at the current pay-off schedule) left me with 6.18 months left to try to get myself out of debt. This was after one of Hunters surgeries (he needed two) and the reason that I mention this is that each surgery was well over $1000 to perform.
This bring me to my update today.. I will call this the May 2010 update since it really doesn’t include June yet.
I am absolutely elated to report that I have paid off almost 82% of my debt since I started almost last year to the day!
Yes, you read that right – Now having said that, I did have a few ‘extra’ payments in there on my debt which I hadn’t originally put in the budget – namely my tax refund which I posted about.
I am so close to being out of consumer or “bad debt” that it’s starting to get exciting. According to my budget schedule – I’m 2 months from getting rid of it. Wow.. what a year!
I can’t wait to write up a wrap up post on how long it took me, how I did it, what changed, what I’m going to do now, etc.. All I know is that whatever the hell I’m doing – it seems like it’s working.