Comments on: Monthly Debt Reduction & Savings Statement – March 2009

By: debt reduction

debt reduction — Wed, 01 Apr 2009 21:59:41 +0000

Thank you very much for your post. I believe this is very sound advice. I am going to have to sit down with my wife over the weekend and review all of our options. Thanks again for the post!

By: DebtFREEk!

DebtFREEk! — Wed, 01 Apr 2009 15:28:21 +0000

Actually while I was writing this post I noticed the “gaping hole” in the amount of money I’m able to put down toward my debt each month and the amount of debt I have left.

While I purposely set my goals high, I still would VERY MUCH like to reach them.

I suppose I need a new strategy for this, so what I plan on doing is giving it all over to God & pray that He will provide. I am completely confident that He wants me to be debt free, so if He wants it to happen before the end of this year, He will provide. I need to seek His face in this matter and ask Him to work a miracle.

I think He will, and I will be OVERJOYED to be able to make this public and to give Him all the praise & all the glory for providing.

I hope it turns into a testimony for the Lord, and for prayer!

By: Lakita

Lakita — Wed, 01 Apr 2009 13:50:33 +0000

Keep up the GOD work! Sounds like you are making good progress. Thanks for your candidness! Real situations do happen which cause us to take a bite out of emergency funds.

I too am using a “modified” debt snowball effect based on Dave Ramsey’s Total Money Makeover. Fortunately for me though, my cards with the lowest balance also had the highest interest rate – double bonus!

I’m just paying the minimum on my student loan and car which sits at 3% and 6% until the credit cards are paid off!

Question: 1/4 of the year is over but your financial widget is not at 1/4 of your goal completion. Do you think you are on track to meet your goals by the end of the year? Or will snowballing and interest allow you to save more in the 3rd and 4th quarters?

PS: I still have to respond to your email ~ I haven’t forgot!