It is that time of year again, where many people are making resolutions and ours, yet again, is to pay off our debt in 2020. We have had some success this year, and even this month, but we are making aggressive plans for next year to help us become debt-free and plan our future. Here’s the latest progress we’ve seen and what we’ve decided for next year so far.
Reviewing the Numbers
These were our debt numbers last month…
- My Car Amount Owed: $21,302
- Credit Card Total For Both: $502 (interest is a KILLER, folks)
- Student Loans: $24,184
- Matco/Snap-On: $7,449
- Amount in Collections: $679
We’ve made some progress! Here are the numbers this week…
- My Car Amount Owed: $20,550
- Credit Card Total For Both: $490
- Student Loans: $24,362 (the interest is from having the loan deferred until after the new year)
- Matco/Snap-On: $7,129
- Amount in Collections: $679
While it isn’t much, it is another $900+ paid off this month, and we are making big plans for 2020.
Plans for 2020
My husband and I have decided to bite the bullet and buy the Financial Peace University from Dave Ramsey. It is going to be our Christmas gift to one another (plus something else small for each of us). We’ve been listening The Dave Ramsey Show pretty often and believe purchasing the program and following the steps closely will really help us reach our goal of being debt-free.
By following the program, it is quite possible that we will be debt-free in 2020 (or soon after). The idea of having all of our debts paid off and potentially be able to buy a home afterward is the dream for us. We both know it will be a lot of hard work, but it will be so worth it. And I can’t wait to keep you all updated on our progress next year!
Read More
- November 2019 Update: Hustling to Pay Down Debt
- October 2019 Update: Searching For Relief
- August 2019 Debt Update: Stalled
- Debt Update: June 2019
Amanda Blankenship is the Director of Social Media for District Media. In addition to her duties handling everything social media, she frequently writes for a handful of blogs and loves to share her own personal finance story with others. When she isn’t typing away at her desk, she enjoys spending time with her daughter, husband, and dog. During her free time, you’re likely to find her with her nose in a book, hiking, or playing RPG video games.
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