Author Topic: Cutting Debt By 40%!  (Read 3503 times)

olivia

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Cutting Debt By 40%!
« on: May 24, 2013, 09:55:33 AM »
I just pulled the trigger on selling restricted stock units that recently vested, and I realized that it's enough to cut our debt by 40%.  (We have a combo of credit card and car loan debt.)  I'm applying it to the credit cards =and then will do the snowball method and throw the extra money freed up by not having those credit card payments at the other credit cards.  The last thing we'll tackle is the car loan because it's at a low rate.  Also, I recently sold something for $1k, and am getting paid when I deliver it next week.  (I sold to a friend and I know they're good for it!)  That will go straight to the debt as well!

I'm super stoked, I think we could conceivably pay off all our debt within 6 months if we continue to get more mustachian.  (I've already cancelled cable and lowered our car, renter's and personal property insurance, and am trying HARD to stop eating out.) 

I'm so glad I found this site-I'm learning so much from Mr. MM and the rest of the posters.  I currently read this forum more than any other site!  (I have a program that tracks my internet time, so this is a verified fact.  :P)

MorningCoffee

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Re: Cutting Debt By 40%!
« Reply #1 on: May 24, 2013, 10:13:11 AM »
Congrats! Keep it up!
:)

TrulyStashin

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Re: Cutting Debt By 40%!
« Reply #2 on: May 24, 2013, 10:50:11 AM »
I'm right there with you Olivia!   I'm currently buried in debt but my eyes are on Horizon of Freedom.  Just keep pedaling.

olivia

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Re: Cutting Debt By 40%!
« Reply #3 on: May 24, 2013, 02:42:59 PM »

olivia

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Re: Cutting Debt By 40%!
« Reply #4 on: May 24, 2013, 02:46:20 PM »
I'm right there with you Olivia!   I'm currently buried in debt but my eyes are on Horizon of Freedom.  Just keep pedaling.

Thank you!  I just keep reminding myself that small changes will add up to a big difference in the long term.  Changing our habits is key so we won't have to use the next round of RSUs to pay down debt.

footenote

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Re: Cutting Debt By 40%!
« Reply #5 on: May 24, 2013, 03:32:16 PM »
Congratulations Olivia! You are so smart to realize that changing habits long-term is the key to retiring the debt ... and then continuing to save so you can retire!

olivia

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Re: Cutting Debt By 40%!
« Reply #6 on: May 25, 2013, 11:23:05 AM »
Congratulations Olivia! You are so smart to realize that changing habits long-term is the key to retiring the debt ... and then continuing to save so you can retire!

Thank you!  It's a challenge for sure-plus I'm still getting my husband on board, when I'm barely on board myself!  :P  But I'm starting to really change my thought processes, and I've been able to catch myself several times before I mindless buy something! 

 

Wow, a phone plan for fifteen bucks!