I just want to pat myself on the back a little

[badger]

awesome! so envious!

for a very short time in the summer, I was actually in the black. Had everything paid off, then I decided it's time to upgrade my car and back in the red I went. It ended up sucking up more money than I thought, then I needed this and that and I'm back where I started...

[Aggie_Ama]

Awesome! DH and I are starting to look at ways to climb out of our own hole.

[Irulan]

Awesome! DH and I are starting to look at ways to climb out of our own hole.

www.daveramsey.com

great program, advice tips, etc for reducing debt and living debt free.

[blackhillsbiker]

Hurray for you!! That's a great feeling! Happy 2010!

Deb

[KnottedYet]

Congratulations, Nono!

What a wonderful thing to do! You deserve the pats!
I paid off my credit card this year, finally. Man, what a feeling! I still have a student loan and a car loan to go, but those should be done in a little over a year.

Congratulations, and Happy New Year!

[NoNo]

Awesome! DH and I are starting to look at ways to climb out of our own hole.

I didn't follow any particular system, but I took some tips here and there from various articles I read. The first thing I did was create a spreadsheet and track every single penny spent during the month. Things were color-coded so I could see if it was for a utility, gas, groceries, miscellaneous, etc. Miscellaneous was colored bright red so it really stood out when I was spending money I probably shouldn't have been. I tried to set a budget of sorts to kind of cap off how much I would spend on gas or groceries. I also figured out how much "free" money I had in a month after expenses and earmarked half of that for paying off debt. Then it was a matter of figuring out where to start, which was quite daunting at first. It felt like I owed money everywhere and it was so hard to figure out what should get attacked first. I think I started with my highest rate credit card, paying the minimum on the other card until this one was paid off. When I got money either through a refund or one of my side jobs, I'd put it toward the loan from my family. That one weighed on me heavily and I was eager to pay it off quickly. If there's a small debt you can tackle quickly, do it, because it's a big boost to feel like you've accomplished something and actually see something crossed off the list. And as things get paid off, more and more money can go toward the remaining debts.

That's the approach I took, but different things work for different people. I hope you find something helpful out of all that and I wish you luck on your journey. When I figured out how much I could put towards debt per month, I estimated how long it would take me to pay everything off. That prepared me mentally that this was a long-term event. As much as I wished it would disappear overnight, I knew it wouldn't I had to be prepared to stick with it. Things like new tires and a computer popped up and delayed the process, but that's life. I always kept the long-term goal in mind, and I think that will be important to you so that you don't give up when those things happen. MSN has a forum in their money section dedicated to women trying to pay off their debts. Maybe you'll find some inspiration there. Good luck!

[lph]

Wow, that's really impressive. Good for you for persevering, and congratulations!

[Bike Chick]

Great job NoNo. That took a lot of hard work and sacrifice. You must feel like a giant weight has been lifted.

[Chicken Little]

Nicely done!