Tuesday, September 20, 2011

Debt Pay off

So as i mentioned before my husband and I have a lot of debt due to bad usage of credit card. Currently we are working on getting them paid off using student loans. While we are using peter to pay paul we have found that this will work with us because once i am done with my MSW we will only have student loans and the house payment that we will be paying on. This next school year we are focused on getting all of our credo card debt paid down and off. Next school year we are going to focus on our cars which will be paid off by the end of 2014 however we don't want the payments after 2013.

This is currently the debt that we have

capital one-1919
ge money-1305
car 9791

Ge money-684
capital one-3864
best buy-1504

I got a refund of 3800 in my student loan. We are also going to putting money aside because this year we ran into several huge emergency and did not ahem the money for them. We are trying to keep 2000 in savings and are hoping to build up to 10k by the end of 2013.

This is what will be paid off

capital one-200
ge money-none currently as it has no interest rate
car- none

ge money-684
capital one-300
best buy-200

We paid off a total of 1852 of our debt. Woo Hoo

In January I will also get 2500 from my job as they are assisting me. Plus another 3800 from student loans. After we get that money we will sit down and look at what needs to be paid next and how much.

The good thing is that since some of these things are paid off and down we can add more money to the big capital one bill.

I am looking forward to being debt free.