The side bar reflects the current numbers, and there is a summary chart on the "Finest Geekery" page. Anyone who has been around for awhile will know that
- I have always stated that we were not "gazelle intense." I do think that Dave Ramsey has alot of good ideas, but we will not be as intense as he prescribes. In a general sense, we are following the Baby Steps. We do have an EF (and a savings account that is separate), although we are more comfortable with a higher number than his $1000 EF number. So right now, we are on Step 2....snowballing debt.
- I started this blog in August 2009 with $76,649 of debt, that did not include a roof loan (again, I have talked about this before). We were paying things down, and in 2011, we took a major back slide due to personal issues and car issues. We "undid" all the paying off we had done in 2 years, plus $4k more. By May 2011, we were at $80k.
- I had estimated that by the end of 2013....we would be at about $62k of debt. Had G-man's car not died, and one other thing that is explained in the CC section tomorrow....we would have been right there.
- By the way that we worked several things, 2016 will be the year that ALOT of debt is paid off, and our cash flow will change considerably (Retirement, Mysti Car, and PMI will all be paid off!) We don't have to do anything but pay the monthly amount, and this stuff will be gone, irregardless of anything else that happens.
If a crisis happens or we choose to buy something...and we choose to use our credit card, it affects the bottom line. We are well aware of that. You don't have to agree with us. I don't always agree with all of you and your choices either....but that is your money. And this is ours. I don't mind people questioning things....I can't always explain every little detail that goes into a post. But the antagonistic comments will not be published....I am not going to turn this into a feeding frenzy. There are several things we would like to do....and are holding off. There are several things that we are hoping we can put off....but we might not be able to.
What's the Cost is putting a payoff date of September 2017 as of right now. Of course, this is all subject to change, and does not account for tax refunds, the additional money that we will have once PMI is gone ($136), or other fluctuation. If something goes up, like our oil bill....then it effects what we can pay "extra."
In tomorrow's post, I have outlined the terms of each debt, when it will be paid off, and any other information that some people are interested in.
One thing that I will be changing as of February (per the program) is that I have my "extra" money going toward G-man's car instead of the CC. The program is showing that this is the better choice, based on interest rate snowballing. This will require a little more effort as because the credit union is not where we do our main banking and I can't just transfer the money. But I will just build it into the routine.
I know some of you think we don't have a plan. Or that it isn't getting paid off fast enough. Or if we didn't do XYZ then we could pay it off faster. I direct you back to the top of the post. I am laying it out there. This is what WE are comfortable with. You don't have to be comfortable with it....it doesn't impact you.
There is a plan. It could all change if something happens, for the good or bad. But there is a plan. I know that stuff is going to happen, and I am not going to say that this plan is not malleable. We may decide something else is the priority. We may decide that we don't want to go in this order. We may decide to say "screw it!" and do something that would be deemed as irresponsible. In the end, the only ones we have to be accountable to are ourselves.
Stay tuned for the nitty gritty details, if you are interested....if not....see ya in another post!