Debt Update

Hello, people.

Since last we spoke, I mentioned that Corina and I would be implementing a new debt-paying strategy...after the wedding in June.  Until then, there won't be a drastic change in the debt amount.  However, here's the newest update:

Previous Debt Amount: $4,425.95

Total Debt: $4,331.93

Debt Reduction: 2.17% (hey, it's a change for the better!)

2% may not seem like a vast difference, but it's promising to me.  I lowered my overall debt by that much and I just paid the minimum payments.  As the overall debt decreases, comparable payments should make a bigger difference.  Once the wedding comes and goes, there should be little problem erasing my debt.

Until next time...

An Update That's Not Much of an Update

Hi, all.

Not much has changed in the past week in terms of my debt, but as we all know, the fight to erase significant amounts of debt is a long, slow, arduous one. What's more, with - let's just call it a sizeable chunk - of money going toward my wedding budget, there isn't likely to be much change for the time being.

Although it is a result of saving for the wedding that my debt amount will not decrease by much, it was the engagement that prompted us to be more disciplined in our savings and it was the engagement that will eventually lead to my climbing out of debt. In short, we plan to continue saving the same amount of money ($600 per month) and apply that money to our credit cards on a rotating basis each month. In between, all other cards will receive the minimum payment.

So that's it. My update that's not much of an update.

I'm in Debt, Welcome to my Blog

I seem to be afraid of money. Every time I get my hands on it, I can't seem to get rid of it fast enough. I also seem to be fond of spending more money than I have, which is the reason I've decided to create this blog. I need a place to vent when I get depressed about my situation, a place to share with you any strides I've made toward a debt-free life, and a place to interact with others in the same situation.

For now, here are the facts.

Total debt: $4,425.95
Goal: Debt Free by 2009


I've tried to escape my financial situation solo, and now I think it's time to try the support group approach. Who knows? Maybe together, you, my future faithful readers, and I can help each other reach the goal and freedom of a debt-free life.