Debt Story

Current Debt Situation

Here is a summary of my current debt situation… Auto 1: 2,656.33 Auto 2: 3,255.23 Credit Card: 5,598.66 Total Debt: 11510.22 dollars I am trying to pay off all my debts by 10-10-2005, just 7 months from now. I will need to dedicate roughly 1700 dollars a month towards debt payments. I am excited about the idea of having no debt by October, and almost certainly by December. We live in a house provided to us by my job, so no rent or mortgage. My goals, after saving up my emergency fund and funding retirement accounts, are to save enough money to replace our cars every 5-6 years, send our 2 children to college (ages 1 and 5, right now),…

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Debt Story

Welcome, AKA, The very first post…

Hi All, this is my first post to my new blog. I will update this blog with information about my journey to get out of debt, stay out of debt, and stockpile tons and tons of cash. I am following the “baby steps” program suggested by Dave Ramsey. If you would like info about him or his 3 hour daily talk show, click here… www.daveramsey.com …I LOVE Dave’s stuff. My wife and I are on step 2. There are a total of 7 steps. I will outline the first 3 today, and go over a little about them for you. Step 1… Create a “baby” emergency fund of 1000 dollars. Put this 1000 dollars in a savings account or a…

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