Becoming Debt Free in 2009

October 22, 2008

Changing My Philosophy

Filed under: Debt,Journey to Debt Freedom — ambercouric @ 9:13 am

I started this blog hoping that the first of 2009 I would be inspired to really get out of debt. Not so much because I am suffering or that we are having financial problems but because I just really hate CAR PAYMENTS. I have no problem sending my payment to the credit card company. Probably because I have a tangible item to account for the bill. I know the car is tangible but have you ever noticed how the new wears off of a car in a matter of months? So now I have a $25,000 car that I still owe more than $9,000 on that is no longer a $25,000 car but an $18,000 car (I looked on KBB). Unlike a lot of what I have read in the PF blogs, my credit card is all major purchases. Some I wanted and some I needed. The bulk of my credit card bill is washer, dryer and refrigerator. The washer and refrigerator went out at the same time. Up until that point the card was at zero balance. Then I decided I wanted a new sofa and chair for the family room. So I just put it on the card. So now I have credit card debt and a car payment.

Also, as far as the hospital bills go, I actually could pay them but because they were zero interest I decided to just make the monthly payment.

Now that the bills have been explained let me explain how we decided on the amount to pay extra to our debt (car payment). Every pay period my husband and I sit down and write a “budget”. It is extremely flexible and I usually put in a couple of hundred dollars extra for food and then some extra for misc. and after everything is tallied up we decide if we will send either $700 or $800 to the car.

We have a plan right? So, what is the problem? The problem is that I have NEVER cut back on anything or cut out anything. I know we could payoff the debt sooner but I have never made sacrifices to do it.

I am going to work on a list of budget cuts and maybe try and tackle one or two at a time.



  1. by debt being so easy to access, it becomes normal to put any and everything on the card.

    Stop the cycle by cutting up credit cards and having more time to think of a resolution to solve your issue

    I have not owned a credit card in 12 yrs, therefore I am forced to use cash or I don’t get it.

    A credit card gives you permission to live above your means

    It easy to slip in that trap

    Comment by Moneymonk — October 22, 2008 @ 1:08 pm

  2. Hey! Thanks for visiting my site and commenting! I’m enjoying reading yours as well – this debt-free thing is really tough, but definitely worth it which is what keeps me going.

    Cutting the budget down to bare-bones is really hard. I’m with ya on that – definitely comes from being willing to get “gazelle intense” over the debt! But I’m still working on paring mine down… Today I cut my cell phone plan by a few hundred minutes and about $30. It’s also about getting into the mindset that every little bit helps.

    Keep up the good work! If it makes you feel any better, I bought a $20K car which is now worth $12K (3-years later) and I still owe $12K on it. Sigh. Can’t wait to see that $400 payment go bye-bye.

    Comment by Deb — October 23, 2008 @ 11:36 am

  3. @Moneymonk – you are right I probably would have put off some of the purchases without the credit card

    @Deb -we’ll celebrate the end of the car payments together.

    Comment by ambercouric — October 24, 2008 @ 2:52 pm

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