Several years ago, my wife and I paid off our credit card debt. Here’s how we did it – We changed our spending habits. We stopped using our credit cards and started using the envelope system. We started to have weekly budget meetings and created a zero-based budget. We reduced or eliminated non-essential monthly expenses. We created a debt reduction…
Category: Debt Reduction
We Have Paid Off 20% Of Our Mortgage – October Update
My wife and I continue to work hard to payoff our home mortgage. As of the end of October 2013, my wife and I will have lived in our home for 3 years and 8 months. We have paid off more than 20% of our mortgage balance! We have a conventional, fixed-rate, 15-year mortgage and our goal is to pay…
Put That First Debt Balance In The Rear-View
After establishing an emergency fund, my wife and I began to eliminate our debt. Here’s what we did. We made minimum payments to all of our creditors. We never missed a payment and all payments were made on-time. We listed our creditors in order, by balance owed, smallest to largest. We attacked the first balance on our list, by sending…