I live, write, and garden in the PNW with my husband of 27 years, disabled daughter, college-aged son, and my 84-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!Well, I added up the numbers today. The real numbers, not just what I think they are from memory. Having that one card at such a high interest rate for so long really hurt us. I am glad it is under that now, down to 6.9%, but wow did it mess us up while it was high.
Credit card totals:
$19,458.14 Bank of America Visa
18,666.97 BoA/MBNA Master Card
+ 5,940.00 Citi Master Card
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$44,065.11 Total Credit Card Debt
I thought it was a lot lower than that, but nope, its not.
$44,065.11 Total CC debt
35,251.24 House Mortgage
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$79,316.35
147,354.13 Medical Debt (Mortgage on parent's house at 5.75%
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226,670.48 Total Debt
Scary number isn't it? But we started 2005 with $250,000 worth of debt, so we have made progress. And we will be knocking off $2000 more when we get our tax return.
And our 401K is at $42,314.20 and we have a meager amount in savings, so even though our net worth is totally in the red, we are doing okay in the retirement department. Thank goodness.
Facing the numbers was really helpful to me. It has shifted my mindset over one more degree. We really have to crack down on the things that waste money. Like eating out, which we still do too much of even though we have cut way back. This is our Latte Factor (even though I don't drink coffee and DH barely does and when he does he makes it himself, and its espresso).
On Monday I am going to the library and finding a good Mexican cookbook and a good Chinese food cookbook. And I am going to figure out how to make our favorite eating out foods at home.
Looking at the Numbers
January 21st, 2007 at 12:14 am
January 21st, 2007 at 01:08 am 1169341732
I've perused the internet for mexican and chinese recipes because those are the two types of foods we eat out. I'll post some tried & true recipes on my blog. Maybe they'll help you.
January 21st, 2007 at 01:29 am 1169342951
January 21st, 2007 at 02:02 am 1169344942
Congrats on facing the numbers! Good or bad they are ours to get rid of and when you can look at them honestly, it helps keep you on track more, I think!
Good luck!
January 21st, 2007 at 02:39 am 1169347142
January 21st, 2007 at 05:57 am 1169359023
Both types of cooking are much more frugally based than anything people cook here. (my opinion) I also find the ethnic markets much less expensive for most items used in each type of cooking.......so you will most likely be able to save more than just the cost of you eating out.
January 21st, 2007 at 04:19 pm 1169396343
January 22nd, 2007 at 01:54 am 1169430866
The whole eating out thing is actually hardest when DH is home for some reason. Mostly cause we can steal away for lunch when the kids are at school and enjoy some quiet time without cooking. Sort of a mini-date.
January 22nd, 2007 at 08:05 am 1169453112
January 23rd, 2007 at 01:31 am 1169515909
January 29th, 2007 at 12:22 am 1170030141
Also another favorite is carnitas made with another cheap cut of pork also found at Winco: http://www.mexgrocer.com/515-carnitas.html
Good luck!