Woo hoo! One of my personal loans is down below $4,000 (from an original loan amount of $6,000). My other one is creeping to $7,000 (roughly $7,476 down from $10,000). It feels so great to see your debt drop. Over the past few months, I’ve really been struggling financially. From filling out HAMP paperwork for my condo (sad face) to aggressively paying off credit cards … I feel like extreme measures have been put in order because of necessity.
I’m 27 years old and its about time that I pay down my debt so that I can live with some financial freedom. Over the past few months, I’ve eliminated debt from six credit cards, leaving me with owing just above $5,500 between only 2 cards. That’s amazing. Back in 2007 I did do 2 debt consolidation loans (and then racked back up my credit cards on top of that), which leave me with a monthly payment of $505 between the 2 loans. I’m getting there, and I think if I just stay focused and eliminate my cc debt, without adding new cc debt, then I can switch my focus to my personal loans. Once those are eliminated, I seriously will free up almost $1,000 a month on just payments on unsecured debt alone. AMAZING.
I just need to stay focused and remember that over time that I’ll get there. Sure, I’ll enjoy life along the way…but I’ll also stay conscious of my money decisions and stay clear of the bad habits that have brought me where I’m at today.