How well did you do over the year with paying off debt?

What was your total debt pay off, did you meet your goals and do you have less debt now?

 It didn't seem like last year was very good to me, but when all was said and done, it was a break-even year. Kind of surprised me when I saw the numbers. This year will be better.

We paid down about $1000 in credit card debt and paid off 2 cards in full. We still have $6000 to go on 2 other cards. I didn't work quite as hard on this in 2007 (until the last few months) but am really making an effort in 2008. What did surprise me, though, is how much we paid down on our mortgage in a year (we are on a 15 year loan and rate is 5.5%) but how little dent we made on our second mortgage (Home equity loan, we pay $366 per month at 8.0% rate, ouch). My goal for 2008 is to pay down/ off the $6000 debt so we can start really chipping away at the second mortgage b/c of the interest rate. I budget $300 for debt payments each month but found an additional $183 that we could put toward the $6000. If we get about $2000 back in tax refunds, we could have it all paid off in 2008. Then we can add that debt payment to the principal of the second mortgage. I love the snowball!

We did okay because we paid off the mortgage and car loan in the fall months. We did have to use the credit cards some months as bills like insurance and car registration and property taxes all come due in the same months. Now I'm using the money from the house and car to build up savings, pay down the credit cards and HAVE FUN! Yeah! E

 2007 was not very kind to us, we pretty much broke even, but we are finally in a position that we can start chipping away at debt.  We have already paid off two credit cards in 2008!

I think we broke even except for the mortgage which went down $6,000.00. but new debt so only down a $2,000.00. New Year, new plans!