Yes – it is already Week 7 of our challenge. This week there is no new lesson I’m going to share. Just checking in to tell you to keep on keepin’ on! I know many of you will be getting those tax refunds soon (if you haven’t already). Make sure that you think twice about what to do with yours when it arrives. Just think of how GREAT it would feel to knock out some of your debts with your small windfall! Of course – I’m not a financial advisor, this is just one mom’s opinion – so do what you feel is best. After all, it is still YOUR money!
I’m still keeping track of our eliminated debts. So, as you pay off a debt, please share with us. This form is done completely anonymously – there is not any way I can track it back to any individual person. This is of course completely optional, but I think it would be incredible to see how much debt is eliminated just by all of YOU by December 31, 2011!! Head HERE to fill out the form.
I know that this is challenging – I’ve been in your shoes before. It is a lot of work and you may feel like just throwing in the towel time and again. Please DON’T! You have come so far and I know you can do it. We will be visiting with our own reader who has joined CommunityAmerica Credit Union’s Financial Makeover. They will share what they are going through and hopefully, help inspire everyone to stay the course. I also hope that maybe they can provide some new information that perhaps wasn’t already shared with all of you.
So, keep on keepin’ on! You can do it! Before you know it, you will be able to shout “WE’RE DEBT FREE!!!!!!!!!!!!!”
(I am not a financial advisor and the information listed within these Debt Challenge posts is not to be construed a financial advice. This is knowledge we gained through our own personal experiences and information as outlined in Dave Ramsey’s Financial Makeover — and is being shared as such. Participants are not required to follow any steps listed if they do not wish to do so. Financial concerns/issues should be addressed with a professional in order to receive advice and assistance.)
Valerie says
We are 3 months away from having knocked out $90000 in car and student loan debt. It feels so good!!
Tracie says
IMPRESSIVE!!!!!!!!!!!!!!!!!!!!
Julie says
Once we get our tax refund, we will be able to pay off our adoption loan. We are so excited about this. It means that our “extra” money can go towards the car payment.
jessica says
The majority of my tax refund will go towards my car loan. This large payment will cut it in almost half. The remainder of the refund will go towards paying cash for an operation for my dog.
Jen says
I am 7 weeks behind but I’m printing off all the previous week’s pages and will start working on it tonight. I’ve tried something similar but I always seem to hit a (very expensive) road block whether it’s a car or a kid expense and it always forces me to use a credit card – I am now $90K in student loans and $30K in credit card debt with a single income of $40K a year. I know it will take FOREVER but once I get going and start saving it will be fine, until then it will be hard work but I’m willing to do all that I can to get to zero balances.
Anyway, I do have one question, what do you (any of you) think about those debt cancellation options for credit cards? I have a $700 balance at Best Buy and pay $7/month for this extra protection. Luckily for me there is very little chance I will lose my job, so is it the waste of money I think it is? Honestly, I don’t even remember agreeing to that option but I’m horrible about looking at statements and, after 5 months, I just noticed it. So embarrassing.
Carissa Schmitz says
Did I miss Week 6?
Tracie says
Last week we talked about cutting up credit cards (I will be adding this post to the main Debt Free Challenge link later tonight);.
Kimberli says
We just paid off my student loan and our NFM card, thanks to our tax return!! 2 bills knocked out on our debt snowball, only 4 left to go – this feels AWESOME!!
happycouponkatie says
I was wondering…i am trying the 7 day free trial for the totalmoneymakeover website and was wondering, is it worth it? I have read the book and can spew info on steps one and two in direct quotes, and i have a longggg way to go on my step 2, i have budget sheets and all that so should i pay $90 for the computer stuff? checked out the forums and they are ok but idk what i would learn from them @ this point. i have cut all the corners i can (we are lucky we still have internet!) and am strict on envelopes, etc. just wondering if anyone else is using it and what they think 🙂