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Blasting the debt DRAGON 2012!

Last post 07-07-2013 1:16 AM by sunflower nice. 225 replies.
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  • 06-03-2012 1:43 AM In reply to

    Re: Blasting the debt DRAGON 2012!

    Z, I think the houe plan is wise, as is selling the bike.  You will have some more freedom, economic freedom, when the house is paid for.

    Shawn, good progress.

    Lynn, sounds like things are a bit better.

    Piad the mortgage, and paid $20 of the tank of gas, about $30 left.  If gas prices stay low, I will be able to pay this off at the end of the month out of the gas budget! Looking forward to lower transportation costs this summer, with no big trip and lower prices.

  • 06-03-2012 1:48 AM In reply to

    Re: Blasting the debt DRAGON 2012!

    Zohner, you have to consider that the resale value of the malibu is doing nothing but increasing.  I hope he is enjoying that car and keeping it running.  Is it his every day driver?
  • 06-04-2012 6:00 PM In reply to

    Re: Blasting the debt DRAGON 2012!

     Yes, he drives it to work every day. He loves that car - -he bought it in high school.

  • 06-19-2012 11:57 AM In reply to

    Re: Blasting the debt DRAGON 2012!

    Sent another chunk of money to pay down cc debt.  I'll send another payment next week.  We were able to go on vacation last week and only put gas on the card.  The payment just sent will more than cover that expense.  Moving on!
  • 06-19-2012 12:15 PM In reply to

    Re: Blasting the debt DRAGON 2012!

    I heard Dave R. last night saying that the total value of your motorized vehicles (car, boat, motocycle etc.) should not exceed 50% of your yearly take-home pay. That is the 'value' not the debt. When I figured our situation, we are just fine.
  • 06-19-2012 12:58 PM In reply to

    Re: Blasting the debt DRAGON 2012!

    Kassy:
    I heard Dave R. last night saying that the total value of your motorized vehicles (car, boat, motocycle etc.) should not exceed 50% of your yearly take-home pay.
     

    Well, the value of our 3 vehicles ( youngest DD is driving one of them), is less than 20% of our yearly take-home pay, so according to Dave, we are fine, too.

  • 06-19-2012 10:18 PM In reply to

    Re: Blasting the debt DRAGON 2012!

     Cool six more months of paying the hospital off and debt free sorry just doing a count down on this and man oh man there will celabration there a dinner at Jack in the Box.

    chrissanne
  • 06-20-2012 1:07 AM In reply to

    Re: Blasting the debt DRAGON 2012!

    I have to disagree with Mr. Ramsey on this.  I bought a used car in 1970, for $1,200.  I have babied that car along all these years.  That car is now worth twice my yearly income. I know several people that have vehicles sitting in a garage that are worth more than the garage and home combined. 

    Maybe for everyday drivers, but classic, solid built Detroit steel can't be beat for reliability, and they are increasing in value yearly. 

    I think he is way off base on this one.  Just my opinion on this topic from experience with auto mechanics, car restorers and shade tree mechanics. 

  • 06-24-2012 9:18 AM In reply to

    Re: Blasting the debt DRAGON 2012!

    My 2003 van with 137,000 miles on it is worth more than that, but my income is low.  I would not want to drive a worse vehicle, to me, that is asking for lots of car repair bills and further credit card debt.

    I wonder where he is coming from, I always try to buy a car with 5 or 6 more years on, at between 90,000 and 120,000 miles, so I can rely on it for a while.

  • 06-24-2012 9:26 AM In reply to

    Re: Blasting the debt DRAGON 2012!

    I am frustrated with the total of my credit card debt, although I pay it down when I can and shuffle it around, the grand total moves very slowly.  At the end of school, with fees for graduation and tests, I had to put some gasoline on the credit card, and am just now, a month later, able to send that in to the credit card, but it will be a while before I can pay the educational fees off entirely. Sometimes it seems like one step forward, two steps back.  Plus, everyone needed shoes this spring. I think I bought six pair, and my son's shoes just wore through, so this week it will be one more pair. I haven't felt this discouraged this year, but now am realizing that I haven't made hardly any progress this year so far.

    I think I have to count not going further into debt as a victory for now, and the fact that 40% of my vacation in August is paid for.

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