Plan for Debt Reduction

[SueAnn]

Does anyone have a plan for debt reduction ie: snowball, graphing or something along those lines? OR, Are you with a Debt council group? Ia started of doing the debt reduction plan and have kind of modified to more of a graph. I need to see that I am making ground in my quest. I was wondering what everyone else does.

Sue
Wife to Bob
Mom to 4

[Jenlee]

SueAnn, dh and I have been using Dave Ramsey's program of snowball debt reduction. You can get the info in his book Financial Peace, which I got at the library. The book has worksheets that will help you. His website has a huge amount of info and the addy is www.daveramsey.com. His radio show is also syndicated all over the country and online from 2:00 to 5:00 p.m. Eastern time.

He explains everything in simple terms that anyone can understand.

It has been such a blessing for us as being debt-free (excluding the mortgage) will be achieved in less than 2 years.

Check it out and see if it would work for you.

[PrairieRose]

My dh and I have been using the snowball method ourselves. We have paid down an enormous amount of debt and will be paying off our home and 2 cars by Feb. of '03. We've been at "it" for about 2.5 yrs. when we complete the process and it's amazing how easy it's been just making the payments we were already making! Listen, I can't WAIT to be debt free ! I would love to hear more about how everyone else is doing this. I have mine all written and figured out in a notebook and it's working almost to the day like I had figured. The satisfaction that I get by paying off a debt is unbelievable. I feel for the people like we were who never really even consider the possibility. It's such a joy.

[Shell]

I used the snowball method and it felt great! I paid off my small bills first as it made me feel like I was getting somewhere. Of course I paid the min. on all the other bills. When I had paid off my credit card I would cut it up! What a wondeful feeling!