Tuesday, December 8, 2009

DEBT BEAT DOWN!!!

When I graduated from school, I knew that I had a ton of debt that was going to be dropped on us within 6 months and I wasn't to happy about it then. Being nearly a year and a half since I finished school, it has been the biggest hit to our finances since. We have a few other debt items that are holding us back from really being able to live the way we feel like God has called us to. Sara got out of school with no debt, we have a small credit debt from making it through the past couple of months during our move, and a few medical bills, and we will have a car payment coming here in the next two months from an extremely generous gift that was given to Sara by her parents. I'm going to be extremely transparent so that others can hold us accountable to this and also see that no matter what hole you are in, you can make it out. We are currently in a position that we have right now just over $33,500 in debt(and remember, that's about 70% school loans) and those are split into 7 different bills. With the budget that we have set up, we will be able to pay off with just our income 3 and possibly 4 of those bills in the next year. Getting the snowball rolling as Joe Sangl says! The other bills that we have will be payed off through time, the last being obviously my school loans. Financially, God has finally blessed us with the stable income to make the decisions to we have to get out of this debt we have. I am also planning on selling my car, getting something cheaper, using that money to put down on the debt, and then also putting nearly every bit of our next income tax return on the debt outside of creating an emergency account. So, be praying for us, because I'm sick of this debt that feels like a weight on our shoulders and I want to get rid of it ASAP!!!

1 comment:

  1. you guys are awesome!! i am so impressed with your desire to get out of debt! i will be praying for you guys! know that if you live now like no one else, later you can live like no one else!! love you guys!!

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