Thursday, January 15, 2009

Made my first Debt Payment today

Hi Everyone!

Well, I made a tiny baby step in the right direction today! I paid $100 to a debtor. More is going out later this month and first thing next month! I am SO exited!

Sure, it's not going to be much fun to never have any money. We could use all this debt paying money to eat all organic food and do fun vacations- but how can we truly enjoy ourselves when we know we owe so much to so many other people?

So it's kind of funny. I paid $100 and I updated my debt ticker. That only puts me at 0.3% paid! LOL That sure puts that into perspective about how much we owe! When we get into the full swing of things- when we are paying roughly $600 a month off on debt- that will only be 1.5%!

But then again- each month the perchentage will go down. For example, February's debt number will be $39,670. So $600 off $39,670 is 1.51%....okay so not that big of an improvement but the March's debt will be 39070 and $600 paid off that will be 1.53%.

So even if the percentage each month isn't all that huge- from January to the end of March, if all goes according to plan, we will have paid off 3.34% of our total debt!

So it will be a long road but really worth it. And each time I can pay off a debt in full and say forever goodbye to that debtor- It will be cause for a celebration! In fact I might throw myself a party on the blog and perhaps I will do something fun around the house- like baking cookies! :D

My Beautiful Nora Girl

Nora's Musings