>I posted my November goals the other day and sadly one of them is not achievable in the way I want it to be.
We went to our credit union to apply for a home equity loan. We were approved. Our condo is worth approximately $32 K less than I thought. I used Zillow as my guideline realizing that it may be slightly off base. I didn’t think it would be off to the tune of $32K less!!!!!
This calls for plan B. Which is really plan A before I thought of plan B (home equity loan). Back to the drawing board of throwing as much money as I can at my debt while still being able to eat and pay for gas to get to work. I think I found an additional $400 per month though. The hubs and I are going to temporarily stop contributing to our 401(k), get rid of our third cell phone (the house phone) and reduce our Netflix subscription down to 2 at a time instead of 4 at a time.
Based on this new schedule I should have the following paid off…
Macy’s – Jan 2009
Chase – May 2009
Capital One – Oct 2009
BMW – Feb 2010
Personal Loan – Oct 2010
Car Loan – Jan 2011
Hubs Student Loan – Mar 2011
Roughly two and a half years. The real kicker for me is the credit cards. I will feel so much better once those are gone. This does not include any sort of saving which I’m certain will happen along the way – somehow. I am more inspired than ever to find alternative sources of income to make this time line shrink.
On a positive note – already two no spend days this month and one day in the elliptical. After I run up to my neighbors and eat dinner there will be a second day on the elliptical.