Friday, January 7, 2011

Week 1 - The Mission

2011 New Years Resolution: To pay off as much debt as we possibly can and document out journey along the way.

Fears: Major strain on our marriage, not making any purchases that aren't "necessities" for 1 year

Hopes: To see a huge difference in the amount of debt we have by the end of this year

Debt Snapshot:
Credit Card: $9792
Car Loan: $14,676
Mortgage: $235,728
Student Loan Debt: $556,398
TOTAL DEBT: $816,594

Monthly Bills:
Student Loan Payments: $4281
Mortgage: $1428
Car Payments: $503
Utilities: $300
Phone: $15 (see next post for explanation, was $188)
Internet/Cable: $87
Credit Card: $250
Hair Cut: $25
Netflix: $15
Groceries: $521 (budgeted)
Gas: $280 (budgeted)
Total Monthly Bills: $7,705


I owe, I owe, so it's off to work I go...

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