Hi there everyone,
After joining MMM in the beginning of the summer, having been introduced to the site and the community by my dad (who else but Hybrid), I set my first 3 MMM goals:
1. Pay off credit card (10.99% interest rate) - $1,200.
2. Save $1,000 emergency fund.
3. Pay off highest interest rate student loan at 6.55% - $1,200.
Today, as a fitting start to my new year, having already achieved the first two goals, I completed my third goal by making an $800 payment to pay off that student loan.
I'll admit the first goal was practically achieved for me as my boyfriend owed me some money which about equaled my credit card balance. After introducing him to MMM and going over his spending habits and finances with him, he was able to get his finances on track and pay me back in a few short months. Coupled with some overtime and higher paying consulting work I did at my job and a big end of year bonus, I have now completed all of my first three goals!
When I first started this journey, I was super excited and perused MMM on a daily basis. But in realizing just how long (or so I thought) it would take me to achieve even the first of these goals, my enthusiasm soon waned and I stopped visiting MMM. It's hard to get excited over the prospect of an MMM life when you're still stuck on phase 1 of paying off debt (and despite my first three goals, I'm still in that phase). But through some hard work and fortunate circumstances, I am now beginning to see the light at the end of the tunnel and that enthusiasm has returned.
As yet another fitting start to my new year, I present to you my next 3 MMM goals:
1. Pay off student loan with 4.5% interest rate - $1,830.
2. Pay off company stock loan with 0% interest rate - $600. (this one will end on its own while I'm still on #1.)
3. Pay off car with 5.59% interest rate - $11,000.
Assuming I don't incur any further debt, after the completion of these next three goals, I will be officially debt free!