We've never paid off $10,000 worth of debt in a single year before. My husband and I started our lives together in 2002. For the next SEVEN years we treated credit cards like free money and we had GOOD credit so we got A LOT of free money. 2010 was the first year of our lives that the debt started to go down. I guess you could say I grew up in 2010. I was on a mission in 2010 to not buy ANYTHING except for food. I paid off $6943 in 2010.
Our highest debt payoff year was in 2011 when I started this blog. We paid off $9167 in 2011. I was still working full time then. Little Abe was just a twinkle in my eye (until later in the year when he made his surprise debut in my tummy). My husband was even less on board with the debt payoff dream then, then he is now (he's come a long way). We were learning to kick a horrible eating out habit. I was learning to kick a horrible drive thru coffee habit (Starbucks). 2011 was A LOT of growing and a lot of work!
We went further into debt in 2012 (upon welcoming the little one into the world/ unpaid maternity leave and hospital bills).
2013 sort of just made up for 2012 with a little extra paid.
I'm not sure what happened in 2014 but our debt didn't really go anywhere, we did buy a newer car and I hurt my back quite badly and spent A LOT of money at the chiropractor.
This year as of right now, September 6th with three months left we have paid off over $10,000 in total debt. I type that fully realizing that this is the very first time in my life I can say that. Our total debt is now under $120,000 (every penny we owe to anyone for anything). Many of you have been reading along and watch all my spending posts, all the "Numbers are in" posts, and see me constantly going back and forth on if I should buy this, when I should budget that in, and darn it I need dog food again. This year has felt REALLY tight financially but for this very moment it's all been worth it. We did it. We hit a milestone and as much as I'm a little in shock half in denial that we really did it I am happy. $10,000 of total debt pay off in nine months... yep, we did it!!! To put that into perspective (because I've seen other people pay that much off in just two months time) we're on track to having every single penny of my entire income for the year going to debt payoff. In other words, we are actually living off of one income. I like the way that sounds.
:)
Spending rundown today: $8.65 on milk, juice, & hot sauce (essential for hubby).
My budget for the month is $513.62 which leaves $383.93
Average daily spending for 2015: $18.08
Congratulations! Still a way to go, but you will get there.
ReplyDeleteKaren
Thank-you! Every inch closer is better than before. Yep, we're getting there :)
DeleteFantastic!! Congratulations. It feels really great to see progress & know that your hard work is paying off. Keep it up
ReplyDeleteThank-you :)
DeleteThat is awesome and a lot to be proud of! :-) This world is not easy financially and paying off that much debt is incredible! Keep up the good work ;-) Hope you are having a great weekend!!
ReplyDeleteBlessings,
Jill
Thank-you. We're having a pretty nice weekend, yummy at least, haha.
DeleteI would have to say that finances are the most difficult part of life for me. I'm definitely dreaming of the day that we're debt free. Debt is such an awful burden. But we are getting there!
I am doing a happy dance for you right now :) You have been doing unbelievably well - be VERY proud of yourself!!! Now you have set a precedent....you can't do less next year :)
ReplyDeleteThank-you :)
DeleteI second that vote! We should hit $13,000 paid off this year. SOOO next year should at least be $15,000, right? Since this is the highest pay off year to date for us, maybe I should just try to keep it over $10,000 again. HAHA!
Honestly though I'm kind of in shock. It just doesn't even seem real. It's a pretty astounding reality for me right now. That is for sure!
Fantastic. You are achieving this while living a full life.
ReplyDeleteIt's hard but you got that right!
DeleteThat is absolutely incredible. I've just replied ton your comment on my own blog saying that it had been lovely to be greeted by you comment on a MOnda morning but this is even better. Fantastic!
ReplyDeleteAnd quite apart from the fact that $10,000 is marvellous, your perseverance in this determination is wonderful You've been doing it for a long time and still you are resolved. Congratulations.
Thank-you! A lot of the continued resolve is due to the accountability that I have from all the wonderful people who stop by and read my story here on a regular basis. You are part of the perseverance and I'm thankful to all of you for that.
DeleteWow! Congratulations! Is that including a mortgage payment? Would love to see more blogs about what is left on each debt and how soon you are to paying off the next one and how much is consumer debt, student loans and mortgage. Great job! Love reading your blog!
ReplyDeleteYes, every debt which for us is the Mortgage, equity line, and credit cards. We currently do not have any debt on the cars and we don't have student loan debt. My husband has a bachelors degree but he worked his way thru college and had bonds from his dad that he used to pay for a lot of his schooling.
DeleteWow, what a huge amount to pay off in 9 months! You obviously are learning and getting better at it each year. Plus each year the amount of interest you pay is lower so more of your money is going to the principal. Getting out of debt is one of the absolute hardest things to do - you are certainly on your way!!
ReplyDeleteYou called that right, on the interest front. This finally reaching over $10,000 paid off in one year is really exciting because it SHOULD definitely only go up and up from here making the pay off happen faster and faster.
DeleteAwesome work! Give yourself a pat on the back. Are you doing anything special to celebrate? At least a special desert or something.
ReplyDeleteThanks. I hadn't thought of any sort of reward but now that you mention it, we have a $15 Olive Garden gift card from Christmas (I just need to find it). I haven't used it because we can't really get a dinner for both of us for $15 but we certainly could use it for celebratory desserts :)
DeleteWow! :) Congratulations! 10,000 dollars is A LOT! :)
ReplyDeleteThanks! I'm really excited to see what the final number for the whole year will be.
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