While I have not been very active in keeping this blog up-to-date, things have certainly still be debt-focused around here. I am so excited to announce that we just paid off our second credit card since starting our debt-free journey! What an amazing feeling!
On top of paying off the second credit card, we also have our savings up to a more comfortable level than before ensuring that even a major expense would not have us whipping out credit cards or totally depleting our funds. Things are right on track!
The best part about having two credit cards down is the snowball effect. Dave Ramsey is a genius. The beautiful number that we are now paying toward our third credit card shrinks the payoff from three years to one year. Think of the interest savings! Of course, we are hoping to throw enough at it to have it paid off well before the full year, but it is comforting to know that we can do it in a fraction of the time even if we can't throw any additional funds at it.
Where does this leave us? We now have two credit cards left (down from four), a car payment (horrible past mistake), student loans and a mortgage.
Still sounds like a lot but with plans set in place, it seems less daunting to tackle especially considering how impossible it felt just a short time ago to pay off the two credit cards that are now a thing of the past.
Dave Ramsey recommends mini-celebrations to keep the fire going, but honestly, the feeling of paying off the debt is celebration enough to fuel me!
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