for our final credit card payment. Once it's cashed by the CC Co. WE'RE DEBT FREE!!!!! After 10 months of following Dave Ramsey's plan, we've payed off $25,000.00. The only thing we owe on now is our mortgage and I'm hoping to remedy that pretty quick too. LOL
We really were blessed to be able to do it so fast, because it didn't work out on paper.
I am so happy, Debt has always stressed me so badly and it is such a relief to be out from under it. I hope never to go into debt again!!!
Aileen
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Happy wife to Keith for 20 years and amazingly blessed mama to 10 sweet munchkins.
Wow! That's FANTASTIC!!!!!!! Good for you guys. What a victory.
Kerri
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Mama to Cole (9), Naomi (8), Adam (7), and Noah (4)
All adopted - All breastfed
Wife to David for 12 years!
Breastfeeding Counsellor and Doula
Accepted into midwifery school for February 2009!
We are moving to New Zealand on January 29th
Yikes, there is TONS to do before then. Gulp.
Congratulations!!! I am so happy and inspired by your post!
This is just HUGE!!!!!
I am amazed at $25K in less than a year! Wow!!
I am inspired too. My new teaching job will be going 100% to debt and I hope I can be posting a similar post to yours in a year to eighteen months from now.
Ok, you said it did not work out on paper....so share some of the blessings and some of how this happened??!!! I think you have many eyes looking and many of us would love more inspiration from one who has reached this point.
Holy smokes lady! You are like a goddess to me, in so many ways. If you ever feel like you could re-hash how you made it happen, I'd love to hear about the journey.
Well, it began w/ reading Dave's book The Total Money Makeover. I had been wanting to get out of debt for a long time, and we had tried, but never really got anywhere. You know how it is.. one step forward, two back. Reading his book is what finally gave me the determination/encouragement to get it done. I cannot reccomend it highly enough. I've read his other books, but this one is the best IMO.
We started in October 2005 w/ $25,000.00 in auto and CC debt. Basically we decided that we would not put anything else on CC's. It was cash from there on out. That made a huge difference. Like dave says "If you can't pay cash for it, you can't afford it".
October was one of those months where we got an *extra* paycheck and we put it all on debt. I also ebayed and sold quite a few things, putting that money on debt and then Keith got an unexpectedly big bonus (first time that's happened) and that payed off our van. Within 6 weeks we had payed off our van and our first CC. That was a great boost, especially since it was so unexpected.
We did without, made do, stayed home, quit eating out, and just cut our expenses back to the bone. Any extra $$ went to debt, like tiny checks, our tax return, small money gifts for BD's etc... We made our gifts, bartered for bigger needs (traded a working freezer for a dryer after mine died), shopped at thrift stores for items we couldn't do without, sold lots of extra items etc... We would trade in books for credit to give the kids something fun and inexpensive to do etc... We used the library for more books and movies, sought out free entertainments and ate cheaply. I stopped buying organic for the most part and shopped at local discount grocery stores. I hated doing that, but felt it was worthwhile temporarily. I looked at every single expense and tried to figure out if it was possible to eliminate it or at least reduce it and we did. We had no cell phones, no TV (just a VCR screen), no extra bills other than water, electricity, phone, mortgage etc... I also did quite a bit of trading/swaps here on Amity's for fabrics and other needs. I sewed things we needed and we did without too. I bought almost nothing for this baby. I got most of what I needed through swaps and made the rest. Thankfully babies need very little and I had things left over from previous babies too, like diapers. Speaking of diapers, we use cloth dipes, pads, wipes etc... I cook mostly from scratch and we have a huge garden. We sold some extra animals. I cleaned house for a friend for a couple of months to make some extra $$ too, until I got pregnant. When we needed something and couldn't buy new, we posted at my dh's jobs bulletin board and here at Amity's looking to buy or trade. Many times we got offers of the item for free. Amity mamas here were very generous and kind to us. I credit those mamas with having a hand in our getting out of debt and am very thankful to them. I talked to my midwife about only doing my birth and letting me handle my own prenatal care. She knows me well enough to be comfortable with that and we shaved off probably $1,000.00 of our bill that way. My kids were great about making do with clothes and shoes etc... too.
We're all looking forward to having a little more money now to buy some things we need, but it will still be several weeks because we put off everything we could too and both vehicles are up for work etc...
My sis and her family were doing the same thing and it was very helpful to have their support during the hard times. I would reccomend that if possible, even if it is an online buddy. We got together a lot for a meal/movie or just a visit and that was our entertainment many weekends. They are out of debt now too.
Our kids knew what we were doing and were for the most part very supportive. It was a great experience for them. They are all very wise about debt now and I really don't expect them to get into the same situation themselves because of it.
Well this turned out to be very rambly (is that a word? LOL), but hopefully it gives you an idea. I'd be happy to answer any questions...
wife to toby 
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