Monday, November 16, 2009


That is all I need to make by the end of this month in order to pay off one of my smaller debts....

Not the smallest debt, though. That one is 0% interest until March. As long as I make MY minimum payment to that debt, it will be gone before the interest kicks in.

And, I would really rather take the money and use it to pay off an interest charging account, even if it is minimal (9% a month at $880 balance)

I should be able to make this goal while still paying $180 more towards the 0% debt for the month of December.

All while still making Thanksgiving and Christmas happen!

Getting back on the getridofdebt bandwagon feels good. Really good. Seeing that I can make progress even with a tighter pursestring does wonders for my spirit.

For a while there I was thinking that there was again, no way out of the mess. But I am starting to see a twinkling of light at the end of the (very long) road.

Of course, one of the reasons why I will be able to make such progress in December will be because I do not have to withhold any of my income towards tuition. So, before I get ahead of myself, let me state that every month will not be able to have these kinds of results, which I am very well aware of. January starts having to withhold $500 a month for three months towards tuition.

Because I only need 8 credits to graduate, I will not be going to school full time. Which means that I will receive less GI Bill money each month. But it also means that my GI Bill will last until I graduate, instead of ending in March. So, although I will get a couple hundred less each month, I will receive payments until graduation which means I receive funds for a couple more months. (Actually, I come out getting a few hundred more)

I am also estimating about $4,000 back in taxes (hey, don't blame for the tax laws!) which should take care of the next two debts in line.

And then here is the kicker - I am thinking about selling my house. If I can sell it for $60,000 (property values are pretty low in this area - that is a decent estimate of what I could get for it) I will be able to pay off the mortgage, pay realtor fees, the last three debts and still have almost ten grand left over to start the Fully Funded Emergency Fund!

Which would be timely, since the projected date between selling the house and graduating would be right about the same time. So, even if it takes a while to get a job in my field of study, or even if I do get an entry level position (which is NOT going to be a high paying gig!) it really won't matter because I will be debt free!

But, before I get too far ahead of myself in this quest, I need to come up with $430 by the end of this month.

I am pretty sure that I will be able to get it, since I should make $400 just in paychecks alone, not counting tips!

How is that for awesome!?!?!?

1 comment:

  1. I hope you don't stop writing again. I enjoy reading your blog. Very inspiring.