Just taking an informal survey of members who have that as a goal in the New Year. If you have any suggestions of how Mommysavers can help out with tips and encouragement, post them here!

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I know that there is no way we will be debt free in 2008, but I do intend to do away with a big chunk of that debt!!

My first tip is to look at what you spend. Is it really necessary (this is different for everyone). I know one person mentioned HAVING to have her 2 dogs groomed. I would never considerthat a necessity. I have had dogs for many years and have never once had them groomed. We just do the bathing, brushing, nails, etc ourselves. For us, satelite tv and internet are a necessity. Dh uses the internet for work and the tv is our major form of entertainment (we rarely go out). So, any way, what I am trying to say, is determine what is really necessary for you and your family and cut the unnecessary spending!

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~Happiness is a large family~

I suggest making a plan even before you start. STart each month with a budget, be conservative with your income. I take a base amount, meaning what dh and I would make before OT, bonuses, ect. The rest is gravy, and goes into the savings at the end of the month. I also save all my reciepts, so that I can see at the end of each month how much I have spent. It also helps when planning your budget so that you don't go over what you are allowed to spend each month.

Baby steps, it took years to accumulate that debt, it won't be gone in a few weeks. Be patient and vigilant, things will happen. You may not see them right away, but you'll see it eventually.

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~Missy~Mommy
Meghan8.Samantha7,Cameron4

If by debt free, you mean ALLLLLL debts gone, then no, that's not realistic for us. But as far as credit cards go, those are gone. So, this year we will build our emergency fund and pay down our vehicles.
Necessities are different for all of us, like happymom said. Our dogs are labs, no grooming needed, and even if they were very high maintenance, there are ways around paying outrageous prices for such. DIY for example. We too "need" the internet and cable, as we rarely spend money out other than the occasional dinner. I'm sure having both saves us ton on movies out and the like.
Is it necessary to have your hair professionally colored, or can you and a girlfriend split a bottle of wine in the bathroom and have some fun with bottled hair dye? My sister has a similar hairstyle as mine, and although she's no pro at cutting hair, she does a jam up job with ours. FOR FREE.
Is it necessary to buy that awesome sweater at full price, or can you wait til the end of sweater season and catch it on sale, or do you realllly NEED this sweater this season to survive?
It's all about choices. Debt re-payment is a choice too. Whether you FIND (meaning taking a part time second job, or whatnot) the money to make it happen faster, or are fine with paying the minimums for 20 years. It's all up to you.
I know that went way off topic, but yes, we'd LOVE to be debt free by the end of 08, but really, it'll take a tad longer than a year to be COMPLETELY debt free....but hey, we're only 26.

Our goal for debt free in 08 involves all credit cards and car loans. We will then work on the house in the coming years.

Danielle

I know we will not pay off 2 vehicles and a house by the end of the year as we've 4 children and the like, but I would like to see us having an emergency fund and a college fund started for the 3 youngest children. Those are my goals for the year, meager as they may be...a girl's gotta start somewhere.

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We should be debt free by April 2008 - with exception of the house.

We have been following dave ramsey's baby steps and it's helped us alot.

I plan on being debt free in 08! I really don't have much, a couple credit cards to pay off and the car.Hopefully that will get done. I also want to get the savings up to 15 thousand!
Soo , it starts with really asking yourself if you really NEED it before you buy it!That's where I might have TROUBLE!! So I can use the support here too, as well as giving some to other's. Together WE CAN do it!!

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http://mommysavers.com/boards/journa...wjournal&j=110


If you tell your secrets to the wind... Don't be mad if it tell's the trees.

We would like to have all our credit card debt paid off by the end of the year. We are really trying to make that happen. I am trying to get a couple kids in my daycare and if i do all that income will go toward paying it off. If i don't hurry up and get some kids then i will need to seriously think of doing something outside the home. I don't want to but we really want to get out from under the credit card debt.

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Jodie....Wife to Andrew (1995)
Mommy to Riley (2000) and Wyatt (2003)

I definitely want to pay the debt down, but unless I win the lottery it would be impossible to be debt-free in '08. My plan is to stick with what I started last year, but stopped doing for whatever reason. I'm going to keep a spending diary that way we can track exactly how much we are spending on what. Then we can look at the montly budget and adjust it if we were unreasonable in our expectations in one section. I want to have at least $750 in our savings account for emergencies.