Two of us so far are interested in making sure with the holiday and higher winter bills that we do not increase our debt.

Not a debt reduction, or a big goal of paying things off, just keeping the same and not going deeper in the hole with the economy, our debts, inflation, holidays coming.  

Anyone else want to join in the

DEBT FREEZE of 2008? 

The goal is to take your added up debt today and make sure you don't go over it this year.   We will keep tips and support going, maybe you will need to add a little debt, then hope to pay it down, we'll be with you until Dec 31, 2008, drinking maybe a glass of champagne that was on sale to try our best to not have debt regret going into 2009.

I'm in!!! Hopefully I can get dh to understand how to not say the words "What kind of financing terms do you have?"

Still a way to go but we will get there!

Well I'm already 1/2 way there Tracy I froze both my cc's last week with the ultimate goal of paying them off. One I've got the limit set to my weekly house hold allowence and that can be paid off in full when we get our taxes done next spring. I'm taking that payment and adding it to the other cc payment to get a little further ahead.

Well, as you know, I'm in!  Consider my debt frozen!!!

I'm excited about this too . . . and happy that we aren't the only two joining the freeze!

The best thing about it is the support; knowing that someone else out there is trying to do the same thing.  While I'm aiming to keep my debt from growing, I actually hope it can go down, even just a little would be something!

Well, here is a basic rundown of what I have...

Big student loans: huge, won't be paid off anytime soon 

Smaller student loan: around 1200 dollars

Smallest student loan: 900 dollars

Capital One card: 1700 dollars

Old Navy card: 400 dollars

I got a medical bill paid off, and snowballed that payment into the Old Navy card, so I'm hoping to have that paid off by the end of the year and then snowball everything up the list from there. I also locked the account and destroyed the card, so I can't use it. Everything else, realistically I can probably just put a dent in. I also have 850 in savings and hope to get that up to 1200 by the end of the year. 

I am in!  have been in a debt freeze for a couple of months ever since we put all our debts together on the line of credit at 4.75%.   Our mortgage goes down each month and only the interest on the line of credit taken out of our account each month. So any other payments we make on that reduces the amount owed.  So I am using the money from the payment from the homestay students to pay it down.

no plans to rack up the credit cards.  did have to use them for some small online purchases but will pay them in full.    it is a tight month this month with lots of extra expenses but we will make it!

Count me in!  I have total debt of $73,854 as of today.  This includes mortgage, credit cards, and a personal loan.  All have interest rates of between 2.9% and 4.9%, so with trying to be more frugal and spend more mindfully, I hope to reduce it some by the end of the year. I have been working on closing a major loophole for me; I tend to run out of something and dash into the store  "for one or two things" and end up overspending on a bunch of extra stuff. I adopted the envelope/jar system for food and household shopping this month, so when it's gone, it's gone. Think this is going to help me because it forces me to plan better and more carefully consider each purchase.  With any luck, I'll have a few bucks left over to throw on the bills.  Good luck, everyone. 

 I applied for a job from 2:30 am to 7 am at FedEx today with the thought of our debt freeze, and using their tuition assistance.  I need more work, this would be steady, but tiring! 

 I was planning on joining but the car repair set the credit cards back almost $425.   No more from today until the end of the year!

latenightleader:

 I applied for a job from 2:30 am to 7 am at FedEx today with the thought of our debt freeze, and using their tuition assistance.  I need more work, this would be steady, but tiring! 

Tracy,

how in the world do you do it with (iis it 4 or 6?) your children too? Wow. Just don't overdo it for the sake of money, no matter how deseperate. they still need their mommy.

prayers and hugs,