Author Topic: Destroy Debt by December!  (Read 945 times)

magnet18

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Destroy Debt by December!
« on: November 02, 2018, 12:34:56 PM »
Whatever goal IT is for you!
Debt, savings, fitness, etc.

For us it's debt, today we crossed the threshold of owing less than 10K on our home! (We owe $9,999.99)
Given that it's a used RV with a 7% (!!!) Loan, we are officially attacking it hard, and set a goal to destroy it by January

My mapped out burn down is something like this

11/09 - 847.43
11/16 - 970.88
11/23 - 847.43
11/30 - 970.88
12/07 - 847.43
12/14 - 970.88
12/21 - 847.43
12/28 - 970.88

For those good at math, that leaves $2726.75, which will be covered by the cash freed up selling my Jeep (bundling two goals into one here!)


Who else has goals they want to destroy in the next 8 weeks‽

EDIT - changed title for some better alliteration
« Last Edit: November 03, 2018, 07:10:55 AM by magnet18 »

lexde

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Re: Destroy it by the end of the year!
« Reply #1 on: November 02, 2018, 02:31:12 PM »
I want to kill my student loan debt. I’m at $6.1k right now and just want to be done with it. So hopefully dumping $1k each paycheck and then using my eFund to kill it on 12/26/18 (so it posts before EOY).

Also want to kill my extra weight. Shifting back to low-carb starting right now. Goal is to complete 20 workouts (45-60 hour HIIT) in November and 20 in December.

Let’s do this.

magnet18

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Re: Destroy it by the end of the year!
« Reply #2 on: November 02, 2018, 02:40:18 PM »
I want to kill my student loan debt. Iím at $6.1k right now and just want to be done with it. So hopefully dumping $1k each paycheck and then using my eFund to kill it on 12/26/18 (so it posts before EOY).

Also want to kill my extra weight. Shifting back to low-carb starting right now. Goal is to complete 20 workouts (45-60 hour HIIT) in November and 20 in December.

Letís do this.

Do it!
I think I'm gonna go full mustache and print out a chart for the fridge!

lexde

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Re: Destroy it by the end of the year!
« Reply #3 on: November 02, 2018, 02:41:25 PM »
I want to kill my student loan debt. I’m at $6.1k right now and just want to be done with it. So hopefully dumping $1k each paycheck and then using my eFund to kill it on 12/26/18 (so it posts before EOY).

Also want to kill my extra weight. Shifting back to low-carb starting right now. Goal is to complete 20 workouts (45-60 hour HIIT) in November and 20 in December.

Let’s do this.

Do it!
I think I'm gonna go full mustache and print out a chart for the fridge!
I’ve done that before! It’s very encouraging.

magnet18

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Re: Destroy Debt by December!
« Reply #4 on: November 08, 2018, 11:26:41 AM »
11/09 - 847.43  paid 521/847 remaining $9489.90
wife was sick last week and therefore made less money
11/16 - 970.88
11/23 - 847.43
11/30 - 970.88
12/07 - 847.43
12/14 - 970.88
12/21 - 847.43
12/28 - 970.88

Amount from jeep now $3052.6 to keep schedule

We spent
45/50 budgeted for gas for the week
121/200 budgeted for food/misc for the week
607/987 budgeted for the rest of the year
Things aren't looking too bad!


Angelhair

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Re: Destroy Debt by December!
« Reply #5 on: November 09, 2018, 05:11:55 AM »
So the following will be paid off
 
House has $418.00 left - paid off in December
Car has $1,122.00 left - paid off in January

Next to be worked on
Personal loan for son's wedding has $6,812.00 left
CC has $7,200.00 left

RWD

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Re: Destroy Debt by December!
« Reply #6 on: November 09, 2018, 07:06:18 AM »
So the following will be paid off
 
House has $418.00 left - paid off in December
Car has $1,122.00 left - paid off in January

Next to be worked on
Personal loan for son's wedding has $6,812.00 left
CC has $7,200.00 left

You're paying off your house before your credit card? Is the credit card like a promotional 0% rate or something?

lexde

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Re: Destroy Debt by December!
« Reply #7 on: November 09, 2018, 08:18:57 AM »
I want to kill my student loan debt. I’m at $6.1k right now and just want to be done with it. So hopefully dumping $1k each paycheck and then using my eFund to kill it on 12/26/18 (so it posts before EOY).

Also want to kill my extra weight. Shifting back to low-carb starting right now. Goal is to complete 20 workouts (45-60 hour HIIT) in November and 20 in December.

Let’s do this.
$5,531.30 left with 52 days left to kill this debt. That’s $106.37 per day, so I’d better hustle!

Angelhair

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Re: Destroy Debt by December!
« Reply #8 on: November 14, 2018, 09:05:19 AM »
So the following will be paid off
 
House has $418.00 left - paid off in December
Car has $1,122.00 left - paid off in January

Next to be worked on
Personal loan for son's wedding has $6,812.00 left
CC has $7,200.00 left

You're paying off your house before your credit card? Is the credit card like a promotional 0% rate or something?

Yes you are correct, cc is 0% for the next 15 months

magnet18

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Re: Destroy Debt by December!
« Reply #9 on: November 14, 2018, 09:47:01 AM »
A change to my plan
We've decided to pay off our $3,733 in cc debt before finishing the Motorhome.  It's our only card we use for everything, and recent home improvement spending has driven it up lately past the "easily paid off at any given instant" range.  I'm frustrated with it in general, so all spending with it is stopped until it's paid off, hopefully before statement close on the 25th.

Friday I will update the tables, this might push things out by a couple weeks for the Motorhome.
I also plan to list the jeep for sale in the very immediate future.  Anybody selling a beater minivan?

lexde

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Re: Destroy Debt by December!
« Reply #10 on: November 21, 2018, 07:13:27 PM »


Pulled the trigger and just paid off my student loans. Didn’t want to wait another month and a half to kill it!