Well, another update. We closed yesterday (thank the LORD!)
We will receive a check for 12770.89 Here is how I plan to use that money. 9,300.00 will pay off one CC with a 10% interest rate. 1,000.00 will go towards a CC that I had recently paid off that my DH charged more on. Then that CC will be paid off. I will then put those CC's along with the other CC we have into a locked safe and have my best friend ONLY know the combination.
I don't care at this point in time if my DH throws a fit about it. He won't have access to them anymore.
With the remaining, I intend to put it towards the 11,000.00 CC and then each month (hopefully), I will be able to pay $1000.00 on it. I figure we have downsized, we now have a heat pump, supplemented with a wood burning stove that will cut the electric bill in half and then we will have no gas bill anymore. We were paying a water bill each month, but now we have a well. I cut our cable down to strickly basic with a savings of $50.00 a month. I am still going to pay for cable internet which is 39.99. But I am now using vonage instead of a land line phone. Total savings for Internet/Phone/Cable is $105.00
We will be receving a check back for the escrow account we paid into also. And that should be around $1000.00, we'll get it in the next 30 days. I will put that directly onto the balance of the remaining CC.
Within 6 months I intend to have that CC paid off. Depending on if we get a tax return or not. This year I hope we do, just so that we can have 0 CC debt looming over us. Then next year I plan to have less taxes taken out and much more of my DH's bring home pay.
When November is over, I will lay everything out savings wise. And do an update on how we actually accomplished this.
Hopefully things are now moving in the right direction. DH is another issue and I'm not exactly sure how I can fix that problem. Any suggestions are welcomed...as this is a BIG issue between us.
Total debt left counting all CC's, car loans, school loans, and personal loans= $88, 706.34
