Thursday, February 12, 2009

Getting out of debt.

I know this is supposed to be a technical blog, but this news is so good I just had to share.

My wife and I are finally getting out of debt! YAY!

I did a TON of research. I took some advice from several different financial get out of debt gurus and mashed their methods together. I took the debt snowball and the "live like no one else now, so you can live like no one else later" attitude from Mr. Dave Ramsey and combined it with the teachings of Ramit Sethi from the iwillteachyoutoberich.com blog. I also thru in a couple of other pieces of advice too.

Here's how we're doing so far. In the last two months, we've paid off 3 relatively small debts. All under $600 each. Now, I know that these are small victories, but it still feels good! By the end of the year, about half our debt will be gone and the rest hopefully eliminated by the end of the following year. Now, while we are doing this, we are also putting $400 a month into savings. This will be our emergency fund slash down payment for a house.

If you can't tell...I'm kind of excited!

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