I want to be truthful about our long long journey to Baller-dom. We're WAYYYY to far from that. Really far. Like. . . South East Asia far.
I initially ran these numbers after reading Dave Ramsey's Total Money Makeover about a month ago. I knew we were in debt - which is why I started reading that book. . but I didn't know it was THIS bad.
Numbers don't lie. We've had so many mess ups. . and that's why we're here. To clean up.
Ready for the numbers? It's ugly. As of today, 09/02/10 (90210 - lol)
CREDIT/STORE CARD DEBT
| Credit Card | Balance |
| Credit Card #1 | $310.00 |
| Store Card #2 | $754.09 |
| Credit Card #3 | $1835.37 |
| Store Card #4 | $2987.03 |
NON-STUDENT LOANS
LOAN | Balance |
Time Share | $7200.00 |
Personal Loan | $18000.00 |
Installment Loan | $1350.00 |
Installment Loan #2 | $15200.00 |
Installment loans are no more than 18months till payoff.
NON-STUDENT LOAN DEBT TOTAL : $41750.00
AUTO LOAN
LOAN | Balance |
Car #1 | $12775.17 |
STUDENT LOAN
LOAN | Balance |
Student loan | $17945.00 |
TOTALS. . .
| TYPE OF DEBT | BALANCE |
| CREDIT CARD/STORE CARD DEBT | $5866.49 |
| NON-STUDENT LOAN DEBT | $41750.00 |
| AUTO LOAN DEBT TOTAL | $12775.17 |
| STUDENT LOAN DEBT | $17945.00 |
TOTAL DEBT :::: $78336.66 |
DAMN...
Posts
3 comments:
It's a lot, yes, but it's better to know what you're working with so you can make progress than to stick your head in the sand and pretend it will get better on its own, right? You can do this!
I'm looking forward to seeing your strategies. Are there any things you can sell to eliminate that portion of the debt? Sell the car and get a beater for a few years? Sell the timeshare and do "staycations"?
Girl, it is a kick in the gut seeing it in black and white, isn't it?
In the same boat, and swimming as fast as I can ;)
Debt can feel so crushing, but it IS possible! I look forward to seeing what strategies you find helpful in the coming year.
I have a similar number. I've done a quick estimate and think it's about 93,000 (though because of new programs here in Canada, part of my student loan will be forgivin). I can only hope that my number will look like yours when I do a really tally.
Post a Comment