Debt and Loans

$37,000 Success: September Debt Reduction Progress

We did it! We’ve paid off $37,787 in debt in ten months. As I said last month, August was an awesome month for debt reduction. We eliminated one student loan and cut another one in half. Despite that, we thought we wouldn’t get the balanced paid off before the end of the year. Fortunately, luck was on our side in September. Debt Reduction Progress in September Done! On September 22,…
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Pay Off Debt or Save for a House

One of the search terms used to reach this blog was “pay off debt or save for house,” which got me to thinking. If you don’t have someone to help you with the down payment, is it better to pay off debt or save for a house?I think it depends on the type of debt, the amount of debt you have, your income, and your target home price.…
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May Debt Reduction Progress

We’re about of a month ahead of my debt reduction plan. If you’re just joining the blog, one of my 2008 financial resolutions is to pay off $40,000 in debt. April was a good month for debt reduction, but May was much better. I’m still hopeful that we can pay off the full $40,000 by November. Debt Reduction Successes in May This month we paid off the second credit card, with…
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June Debt Reduction Progress

After making such great progress in May, we took a break from debt reduction in June. We were hoping to get one more debt paid off, but it was not to be. That said, we will be able to pay off one more debt in July and will get back on track. My husband also added up all the debts included my goal and discovered it’s a hare over $35,000,…
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Finally, a Debt Breakthrough!

My husband isn’t a profligate spender, but he hasn’t been fully on-board with my plan to pay off $40,000 in debt this year. Don’t get me wrong, he was thrilled with our February debt reduction progress. He’s equally determined to get rid of the credit cards and at least one student loan, but he wasn’t convinced we could pay off two of them and the medical debt so quickly.…
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