Where Are You Getting the Money?

A good question posted by "anonymous."

I work part-time as a test proctor, and the large chunk that I paid recently was the result of stockpiling my checks in savings and then making one big payment. The final payment was made thanks to a sweet and unexpected gift sent to me from my grandparents.

Also, the more debts that I pay off, the more money that is available in the monthly budget to put towards the next debt.

For example, the Home Improvement Loan was almost $200 a month.
The car payment I dropped this year was $225.
And, we dropped a child's tuition that was $350/mo.

Right there is an additional $775/mo. to throw at debt in addition to what I am earning in my part-time work.

It truly is a "Debt Snowball" as Dave Ramsey refers to it. The more you pay off, the more money you have to pay off more.

Try it. You'll see.


Blessings!

PAID OFF HI Loan (Final $809.19 pmnt)

I'm doing a dance!! The home improvement loan is G-O-N-E! Buh--bye!

What's left:

Credit Card
Student Loan

May seem like a lot, but it's far less than we had before this process started.

$1,320 down...Less than $1,000 to go!!!

I put one more chunk on the home improvement loan. And, it's almost down to 0. Then, we're kicking VISA out of the house next!!

Another $510 down

Made another payment to the home improvement loan. Now, we've got about $2,000 left. I cannot wait to report on this account being paid off and closed.