| T O P I C R E V I E W |
| catscharm74 |
Posted - Jul 20 2009 : 3:59:04 PM
HAVE NO FEAR!! You can...
I was doing our finances today, making my new chart for the second half of the year. In less than 2.5 years, we have paid down over...drum roll please........$30,000 in debt....yep you read that right $30,000 big smackeroos... We were in debt of over $70,000 and my total today is just a hair over $38,000. That is still a lot but we have paid off 1 personal loan, 5 cc's and paid down on our car loans.
I just want to inspire others who may have gotten in over their heads and keep feeling like they are drowning. You can do it...just get organized and keep it in check. We haven't used our CC's in over 1.5 years. Anytime we come into a little extra cash, we save 10% and put the rest towards debt. It is working and now, I only have 3 more cc's to pay off and the vehicles.
We both came into our marriage heavily in debt and prioritizing what we REALLY want in life is helping us stop the mad spending and using the cc's. We don't have much to fall back on right now but the idea of NOT having to pay someone else for my own stupidity is a great feeling. We thought we would never get to the point of even thinking about buying a little home or being able to live on our paychecks AND put money away, but it is slowly coming to fruitation. Just keep swimming..just keep swimming...
Heather
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| 25 L A T E S T R E P L I E S (Newest First) |
| Alee |
Posted - Oct 12 2009 : 6:56:13 PM
Heather- I think you are doing great! You are so very aware of the dangers of the CC merry-go-round and you make sure you AREN'T on it! Way to go! You rock!
Alee
Farmgirl Sister #8
www.awarmheart.com
www.farmgirlalee.blogspot.com
www.allergyjourneys.blogspot.com
Put your pin on the farmgirl map! www.farmgirlmap.blogspot.com |
| catscharm74 |
Posted - Oct 12 2009 : 5:53:29 PM
That is the catch 22...When you don't spend on CC's or have them, that is considered a credit risk too. SO stupid, I know!! UGGHHH!!!
We had to actually use our's because we needed tires for our truck BUT I was able to send in a double payment already...so I feel it is a little set back but isn't killing us like it used to. YEE HAW!!!! : )
Heather
"Hitch your wagon to a star"
http://somewheredownintexas-heather.blogspot.com |
| lilwing |
Posted - Oct 12 2009 : 5:28:59 PM
What I don't understand is that my husband and I have managed to stay debt-free (mostly) and have excellent credit. I pay everything off and on time. I applied for a credit card (keep in mind I once had a gold cardbut shut it down when I felt we needed to).... and they denied us both saying we were "high-risk"! When I closed the gold card account, the guy on the phone applauded me for having such good credit and was trying to get me to stay with them. I don't get it?! Is it just THAT much
harder to get credit lately...even if you have excellent credit??
~~~~
http://nightbirdtrading.etsy.com
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| Bonnie Ellis |
Posted - Oct 12 2009 : 4:45:27 PM
Heather and Cheryl: We are all in this together. We're retired so there is no more money coming in. You have encouraging advice for us all to do more than tighten the belt. You're hitting this thing head on and what strong girls you are. It's tough for seemingly an endless time but wow, look at the results. Bless you and any other sisters out there in the same situation.
My grandmother and great grandmother had the same advice as MJ: "use it up, wear it out, make it do or do without"
Bonnie
grandmother and orphan farmgirl |
| therusticcottage |
Posted - Oct 12 2009 : 4:06:49 PM
Heather - good for you! That is quite an accomplishment. You are an encouragement to me and lots of others. Keep up the good work!
Handmade Soap, Lotion Bars & More! http://therusticcottage.etsy.com
The Rustic Cottage Blog http://therusticcottage.blogspot.com
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| chaddsgirl |
Posted - Oct 12 2009 : 3:00:21 PM
I have been searching for this thread and finally FOUND IT!! I just wanted to continue to encourage everyone who is trying to get out of debt to stick with it. On Thursday of this week I will be making the FINAL payment on DH's truck. I'm SOOOOOO excited. It has been a huge burden the last two years and there were times I wasn't sure it was going to happen. But the payoff comes THIS WEEK and I'm so excited I had to share my good news.
To any farmgirl struggling with debt, or just struggling with being "financially challenged" hang in there and keep chipping away at what you owe. It took what seemed like an eternity, but I've finally made signifigant headway and it's feels wonderful. Cash for everything from this day forward!!
A person is a success if they get up in the morning and get to bed at night and in between does what they want to do. Bob Dylan |
| peapicker |
Posted - Jul 31 2009 : 06:03:29 AM
I heard on the news that the elderly are one on the largest growing groups to be getting into credit card debt. They may have a harder time getting out of it with limited incomes. I'm a big Dave Ramsey fan. Congratulations to everyone getting out of debt. |
| NikkiBeaumont |
Posted - Jul 31 2009 : 04:03:07 AM
Way to go, Heather! You are doing an awesome thing and I know that it is such hard work, but look at you go girl!
Farmgirl Sister #554
http://leedsalabama.blogspot.com/
http://alabamaheartofdixie.blogspot.com/ |
| Old Spirit |
Posted - Jul 27 2009 : 12:21:58 PM
Yeah it stinks doesn't it. We could easily live on one income without the nonsense debt so..... no more for this farm girl. You are all an inspiration to me!!
Rae
Farm Girl #647
...those who hope in the Lord will renew their strength. They will soar on wings like eagles:...
Isaiah 40:31
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| moxieblossom |
Posted - Jul 27 2009 : 09:06:09 AM
YAY! Congrats Heather!!! You are an inspiration!!! :D
My hubby and I are paying our debts down as well... as of this time last year we had no savings, no retirement, and were about $70,000 in debt. We've been making some lifestyle changes, sold one of the cars, started sticking to a strict budget, and the debt is FINALLY coming down and our savings is going up. We've paid off one card entirely, are almost halfway on another, and will have one more CC + whats left on the car to pay off after that. We're estimating at least 2 more years until we're debt-free, and sometimes it seems so long away! But it'll be soooooo worth it in the end.
The really scary part, the moment of truth, happened when we realized that for all our debt and for being a dual-income household, we really had nothing to show for it. It was all just frittered away, and that was both embarrassing and sobering for both of us.
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort.
Farmgirl Sister #242
http://vintage-moxie.blogspot.com |
| paradiseplantation |
Posted - Jul 21 2009 : 09:36:41 AM
Heather!!!! I'm so proud of you! I know how that feels. We struggled with the same thing, and finally about two years ago, we paid off everything but the mortgage. And we're working hard on that! I know you are feeling a lot lighter right now. Keep up the good work!!!!!!
from the hearts of paradise... |
| catscharm74 |
Posted - Jul 21 2009 : 09:21:22 AM
Thanks Laurie. I figure IF I ever became homeless again, at leat I wouldn't owe anyone a monthly bill. It is my goal and I will BE a high level hospital adminitrator, but it is NOT about the money or a certain lifestyle, it is about an achievement for me. I know too many people who are in debt but LOOK like they are living the high life. My brother is a perfect example and he has told me (back when we talked) he goes to bed every night worried about all the debt in his life but his wife is a CC spender and does not plan on stopping. They have the latest greatest and now are building a new, BIGGER home, mortgaged on their current home. She doesn't believe in coupons or cash. Yes, my brother makes over $120,000 a year and she works part time but they are barely surviving. I don't want to be that. It is my goal, at 40, to be completely out of debt and have xxx amount in the bank. 5 years to do that is doable and I am on my way.
Good tips Lauri. Thanks.
Heather
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| LauriP |
Posted - Jul 21 2009 : 08:59:02 AM
 ~~ Heather, I am so darn proud of you!!
Back in '94 we quit the credit card %&**^(), and it's only cash for everything. Yup -- the companies were sending me the letters saying "For only 0% Interest..." -- Blah. The companies don't need my money, and the miles tom drives dont equal the greed those CEO's want for their girlfriends. The main thing to remember is that its You Money -- don't let other people have it, don't let them try to convince you that you need to go in debt, and do not let the impulse shopping overwhelm you. Been There, Done That.
The goal is to keep yourself solvent -- we've been thru the mill with no work, or selling firewood to make ends meet..making a whopping $45.00 one week, and we felt like we were doing really good. And still facing debt. Never, Evah Again!! Keep yourself ahead of the corporations, and they eventually realize you're not going to be someone they will snare.
When we bought this house we made sure that part of our documents stated that we would have no contact with any of the umbrella companies that the mortgage company owns/has interest in. If any of you can, make sure to find that portion of any credit card statements you have, and make doubly sure that you contact the company and tell then to stop sending additional letters/forms/garbage to have you get an additional credit card, or any other offers from them. It may take up to 60 days, but not having those offers is such a wonderful thing.
Also -- make sure to have your home phone, cell phones, and if possible, work phones on the Do Not CallRegistry -- it is a huge fine if the credit card companies call you to bellyache about any debt you owe -- the registry makes sure you do not get harrased by them. You can go online to register, it takes maybe 5 minutes to do, and the Quiet from no ringing telephone is well worth the effort. I don't have our home # with our mortgage company, and it drives them nuts. It's not necessary, and it's my phone, not theirs.
Keep on doin the work your doin' Heather, an' we will be cheering you on all the way!!
Laurianne |
| Bellepepper |
Posted - Jul 21 2009 : 08:33:11 AM
We have one credit card that we use for mail/internet/phone orders. I never order anything that I don't have the money to pay for. We pay the full amt every month. I love it when we get the phone calls that tell us they can lower our credit card interest. I tell them, if it got any lower, they would have to pay me. OH, they DO! We have a Cabela's card and get $ points that we can spend at Cabela's.
I'm proud of your gals for getting the job done. I have been there, more than once. It becomes easier to make the hard decisions on what to buy or not to buy as you see the balances go down.
It seems that no one "saves up" for anything. We are so spoiled and want everything now. We have to be real careful not to overspend since we are in the retired/fixed income crowd. I think things are going to go downhill financially with all the stuff going on in D.C. Being out of debt will put us all ahead of the game.
Belle |
| catscharm74 |
Posted - Jul 21 2009 : 08:00:30 AM
Yep...could have owned a NICE house by now...but these are the lemons I was given...so here I am... : )
Heather
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| Amie C. |
Posted - Jul 21 2009 : 07:34:31 AM
And congratulations, Heather! That's a ton of debt erased in such a short time! |
| Amie C. |
Posted - Jul 21 2009 : 07:29:28 AM
We've got only our mortgage and student loans, so the terms are better than a cc. But that's still plenty of debt and I don't like it. I'd like to pay down the house faster, but it's hard when you have an old house because they always need something fixed.
Right now, we're trying to fix as many things as we can think of while I'm still working. That way when my job ends next April, we (hopefully, fingers crossed) won't have any big emergency expenses while I'm looking for another one. |
| chaddsgirl |
Posted - Jul 21 2009 : 06:54:30 AM
Congratulations Heather! Isn't it a wonderful feeling to be able to slowly start paying things off? It's like a weight is being lifted off your shoulders. Keep fighting the good fight, I'm sure now that you realize how much progress you've made you're probably more determined than ever to keep at it until all your debt is completely wiped out.
I have been working along dilligently to pay off debt as well. I paid off all my credit cards about 2 years ago and paid off my truck a couple of months ago. I'm just thiiiisss close to having HD's truck paid off. After that we have the house and DH's student loans then we'll be debt free! DH quit his job to farm about 2 years ago and we've been living solely off my income for the last two years. In spite of that, I've managed to scrimp and save and pay off debt. Just like Heather said, it can be done! And it is such a relief.
A person is a success if they get up in the morning and get to bed at night and in between does what they want to do. Bob Dylan |
| catscharm74 |
Posted - Jul 21 2009 : 06:31:08 AM
I am proud of all ya'll for just keeping swimming!!!; )
What motivated me was we have a Bank of America card and we had paid down about $1500 on it. Since we didn't use it, they dropped out credit line by $1000, so it screwed up our credit score because it looked like we owed more than what we had paid. That, first made me mad, then it lit a fire under my backside. They also got mad, because since the debt incurred while in the military, they HAVE to give up 5% on the interest, nothing higher. So, they still make money, just not as much. I will NEVER been in debt, as far as cc's, again, ever. I will go without, make do, find a coupon, scrimp, save or just be. I have a pretty good credit score and Scott's is slowly coming back up (his ex has made sure to keep it low...grrrrrr...)
Heather
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| kristin sherrill |
Posted - Jul 21 2009 : 06:03:25 AM
Yeah, Heather! Way to go, girl! Keep it up. I am proud of ya'll.
Kris
Happiness is simple. |
| RubyJunes |
Posted - Jul 21 2009 : 06:00:56 AM
Thank you for sharing your progress, Heather! It definitely encourages me, as we struggle like so many others.
Still swimming,
--June
Farmgirl #545
www.RubyJunes.com |
| Old Spirit |
Posted - Jul 21 2009 : 05:50:53 AM
Way to go Heather and I agree with the idea of sharing on a blog things you did. We are in process of downsizing as well. Life hits you with things you don't expect and sometimes debt just sneaks up and takes over. I am taking smallest bill and paying extra on it as it feels good to see them end. One at a time. Also just not going places helps and the good thing is we have so much to do at home and enjoy being home it isn't a sacrifice.
We have a couple gift cards for gifts to go out and eat which is really nice as then we don't feel bad not being able to do things.
But...way to go Heather!!!!!
Rae
...those who hope in the Lord will renew their strength. They will soar on wings like eagles:...
Isaiah 40:31 |
| FebruaryViolet |
Posted - Jul 21 2009 : 05:50:01 AM
Great job, Heather. I like your dedication...and it can be very difficult during these tough times to not rely on credit--I know that I just simply don't carry them anymore. You can't "close" the accounts, because that looks bad on your credit, but so does debt! Aye yay yaye!!!
Congratulations!
Musings from our family in the Bluegrass http://sweetvioletmae.blogspot.com/ |
| prariehawk |
Posted - Jul 21 2009 : 05:22:54 AM
That's great,Heather.In the past year, I've cancelled two of my cc's and am trying to get them paid off. Now I just have one. Wish I didn't have any,but I don't make much. almost have my house paid off (with my parents help) so that'll be a relief when I no longer owe any on my mortgage. I'm going to have a garden next year and I've started making things like my own laundry soap and even my own dog food to help the packaged stuff go further. It's almost (well, it is) a trap the way the cc companies lure you in. I'm inspired that you've been able to pay off so much in such a short period of time. I have ongoing medical expenses, which never seem to end. Thank God I have good insurance or I'd probably be homeless. It's like a vicious circle--I need the insurance that comes with my job to pay for my medical bills cause if I wasn't on meds., I couldn't work. And if I couldn't work, I couldn't pay for my meds. It never ends. I've though of going back to school but not sure what I want to study. But i love the academic environment. Anyway, congrats on being so financially savvy and best of luck with your schooling.
"Dog is my co-pilot"
Visit my blog at http://www.farmerinthebelle.blogspot.com/ |
| junkjunkie |
Posted - Jul 21 2009 : 01:33:20 AM
That's terrific, Heather! That is inspirational....funny that I read this post after just setting up my bill payments electronically, feeling am I every going to get this all paid off?? I try to pay extra if I can. Right now, I'm up to my nose in debt...but will keep on swimming! :)
"To have life in focus, we must have death in our field of vision." Benedictine monk John Main |
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