Introduction
This couple has been married for many years and have one child. They have HAD IT with their debt and have been marching toward debt freedom since November 2007. They are THROUGH with credit cards.
What went well this month …
We changed car and homeowner's insurance companies saving us $672 a year! UNBELIEVABLE!
What were the challenges/struggles this month …
Well, we are so frustrated! We have called our credit card companies, and they are still not wanting to reduce interest rates. We have applied for transfers and can't get them right now b/c our balances are too high. So we are really focusing on paying these off even faster so we can tell these crooks to TAKE A HIKE! We are still calling and harassing them trying to get reduced rates - 1% here and there but it is lower than the previous month.
Updated Debt Freedom Date …
Our car balance is higher than it has been because we have the actual balance now and not a guess. Also, the Citi card stayed the same as it was a balance transfer and the Discover went up a little for the balance transfer fee.
Month By Month Progress …
Sangl Says …
When you have a pile of debt, it can take a little time to get the Debt Freedom March fully on track with a full head of steam! This is exactly what Couple #3 is experiencing. They are getting their debt balances organized and working hard to improve the interest rates on the debt. In just a couple of months, all of the restructuring will be complete, and I can not WAIT to see what happens to this debt then!
Readers …
As we all know, this is tough stuff! It is even harder when you put all of your financial information out there for the world to see. Will you encourage Couple #3 by leaving them a note in the "comments" section?
My book, I Was Broke. Now I'm Not, is available via
Marching To Debt Freedom - Couple #3 - Month 05
May 8th, 2008 at 03:57 pm