The current status of our “Debt Free by 40” goal. We are following Dave Ramsey’s 7 Baby Steps to Financial Peace. We are working on baby step two: pay all off debt but the house.
Debts as of November 2017
- Doctor Bill – 381.90
- Credit Card – 958.06
- Orthodontist – 2061
- Personal Loan – 2810
- Car Payment – 3814.26
- Student Loan – 21139.44
- Total – 31,164,66 (which excludes our mortgage)
Each month I write our total up on a white board so we can see how much remaining debt we have. I also keep up our beginning number, 45,158, so we can see how far we have come!!
We only have 380 dollars on our lowest debt. So close!! When it’s paid off we will be tackling a credit card where the balance never seems to go down because of high interest and fees. We will totally be having a drink to celebrate paying that sucker off!!
Our debt doesn’t seem so overwhelming when you consider 21,000 of it is student loan debt.
I’m so happy with the car we paid for with CASH this spring. It was a bit of a chore for my husband but not seeing an additional car payment in our debt breakdown makes it totally worth it.