7 days ago, my husband and I became graduates of Dave Ramsey's Financial Peace University. We have been eyeing a home in Palmdale...actually here she is:
7 bedrooms 3757 square feet and enough room to build our pool when we got the money. We have been watching it for a few months. Then I happened to check in on it, this past Sunday evening, and the price dropped from $335,000 to $307,000 a whopping $28,000.
I told myself, that we could not even begin to LOOK at homes until I had paid off my smallest credit card. BUT....$28,000 how could we pass that up?
So, we decided to contact a lender to see how much house we could afford. Well turns out - that because of all my massive student loan and credit card debt - we can only afford $175,000 worth of home and not $207,000 worth of home.... *tear* I know.
I've been majorly sad all day. But decided to re-focus and continue with my gazelle intensity. I no longer have access to the free Dave Ramsey debt snowball calculator, but I found this aswesome debt snowball calculator.
As of April 20, 2011 we have a total of $130,793.87 of debt. $15,996.50 is credit cards, the remaining balance is student loans.
My Debt snowball calculator says my expected debt free date is February 2022. Yup, you read that right. 11 years from now, lol. But, im not gonna let that discourage me. I BELIEVE that I have the desire to get from under all of this debt, and do it as FAST as possible. So no, this blog article does not say how I got out of debt in 2.5 months or something really incredible, but it does say that I have hope. Hey, it was much more than that before, i've knocked out a pretty nice "lil" chunk.....but I still have a long ways to go.
I'll keep you guys updated on my progress. Things that I do to penny pinch etc.
7 bedrooms 3757 square feet and enough room to build our pool when we got the money. We have been watching it for a few months. Then I happened to check in on it, this past Sunday evening, and the price dropped from $335,000 to $307,000 a whopping $28,000.
I told myself, that we could not even begin to LOOK at homes until I had paid off my smallest credit card. BUT....$28,000 how could we pass that up?
So, we decided to contact a lender to see how much house we could afford. Well turns out - that because of all my massive student loan and credit card debt - we can only afford $175,000 worth of home and not $207,000 worth of home.... *tear* I know.
I've been majorly sad all day. But decided to re-focus and continue with my gazelle intensity. I no longer have access to the free Dave Ramsey debt snowball calculator, but I found this aswesome debt snowball calculator.
As of April 20, 2011 we have a total of $130,793.87 of debt. $15,996.50 is credit cards, the remaining balance is student loans.
My Debt snowball calculator says my expected debt free date is February 2022. Yup, you read that right. 11 years from now, lol. But, im not gonna let that discourage me. I BELIEVE that I have the desire to get from under all of this debt, and do it as FAST as possible. So no, this blog article does not say how I got out of debt in 2.5 months or something really incredible, but it does say that I have hope. Hey, it was much more than that before, i've knocked out a pretty nice "lil" chunk.....but I still have a long ways to go.
I'll keep you guys updated on my progress. Things that I do to penny pinch etc.
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