I spent several hours last night coming up with my debt elimination plan. I even added a ticker. Not this is unsecured debt does not include the car and such. I figured I would start with it. Things such as cc, loan, and medical bills. Anyway When I was budgeting I couldnt even start making payments until the begining of November and then it was only 70 a month until feb. After my husband graduates school January 19th I will be paying 200 a month plus a huge chunk of income tax to debt but I feel like that is a long ways away. Its just that I am the only one working right now at least until he finishes school and I make only 2.50 over minimum wage. But the plan has be being debt free in Febuary 2011. A little under 2 1/2 years away. Is that a good start? Anyway just wanted to know what everyone thought, cant wait to see that ticker moving!!!

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good start! I love the ticker, thinking of doing one myself. I think its a good idea to start w/ the unsecured debt first, you might not feel as overwhelmed. 2011, that's only 2 1/2 yrs., not bad.

Good luck Lauren! 2 1/2 years really isn't a long time!

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Life isn't about waiting for the storm to pass~ It's about learning to dance in the Rain

really? 2 1/2 years seems like a long time to me!!

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It's a fantastic realistic goal. Just think how much your life will change in the next 30 months.

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I also agree with KH - That sounds like a great, realistic plan! Also - don't feel bad about not being able to contribute "that" much before January - It's good that you're getting started on it, and I think it's better to get started and pay whatever you can! Good luck!!! (I like your ticker btw! )

thanks for all of the support. I am so glad I found this website!!

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You are doing great. Once you get it rolling, you will be amazed at how gazelle you get and will scrimp and save and add to your snowball. Just remember...no new debt and stick to a written budget. Those two things will have you getting to your goal qucker than the ticker -lol.

You can do it!

I JUST got rid of all my debt to the tune of $29K, so I too am living proof that if you work a plan and plan your work it can be done.

Once you get that snowball rolling it's all down hill from there. Baby steps, baby steps.

best of luck to you!

I highly recommend reading "Your Money or Your Life: Transforming Your Relationship With Money and Achieving Financial Independence" by Joe Dominguez and Vicki Robin. It is a plan for becoming financially independent - ie not having to work for money anymore, and stories of people who have done it. Basically, they paid off all debt, then calculated how much money they needed for expenses (utilities, insurance, hobbies, maintenance, etc.) and saved enough of a nest egg that the interest paid for these expenses.

It is so motivating! These people were like little worker bees, working methodically and slowly toward a huge goal. And, even though I don't think DH and I will ever be motivated to do that (DH loves his work and I'm looking forward to the day when I can find something equally fullfilling), it reminds me how much lighter and freer our lives would be without the debt that so many of us consider normal!

What could you do without a mortgage, car payment, credit card payments, and student loans?

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