Wednesday, July 23, 2014

Target Date - July 2016

I first decided to pay off debt exactly last year 7/2013 since I got a new job with better pay - I was at $27,500 in debt at the time. I was so determined and calculated that I can be done by the end of this year (2014). Then life happened... trips, birthdays, holidays etc. that put my determination and motivation aside. I still continued paying my debt, but at the same time I still used my credit cards. It has been a year and I have only paid off $4,922 - which is not bad, but not as intense as I thought I could be. I think I also was aiming too high to try to get the debt paid off in 1 1/2 years.

Now my goal is to pay off my entire debt by July 2016 - 2 years! I'll be doing this by sticking to my monthly goals - which can be found here for July 2014.

To reiterate:
  • Target debt payment amount will be $500 bi-weekly
  • Keep the weekly spending to $150 - try to get it down to $100
  • Do not use credit cards
  • Track my daily spending
  • Have at least ONE day of no spending per week
  • *Aim to pay this off in less than two years!


    1. Two years to pay down $27,500 is still a great goal. You can do it!!! :)

    2. Though you may not have paid off as much as you'd like as fast as you originally wanted, your progress is still something to be proud of! Implementing no spend days/weeks is something I'd like to do eventually, too. Good luck on the new goal!

      1. Thanks Lisa! You're right ... i'll just keep on focusing on the progress :)