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DEBT FREEZE

Last post Wed, Aug 5 2009 7:11 PM by redw4552. 165 replies.
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  • Mon, Oct 13 2008 7:04 PM

    Inflation fighter [IF] DEBT FREEZE

     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.

     

    Tracy
    Beginning Debt Slayer


  • Mon, Oct 13 2008 7:49 PM In reply to

    • swedluv
    • Top 50 Contributor
      Female
    • Joined on Sun, Jun 8 2008
    • North Carolina
    • Posts 1,713

    Re: DEBT FREEZE

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

    DEBTS
    MORTGAGE PAID
    PARENTS 13000
    BB&T 8500
    BANK OF STANLY 14500
    HOME DEPOT 1300
    DIRECT TV 123
    SONY PAID
    KAY PAID
    TOTAL 37423

    Still a way to go but we will get there!

    Lynn


  • Mon, Oct 13 2008 8:55 PM In reply to

    Re: DEBT FREEZE

    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.

    thrift is a sign of intelligence, any fool can spend money


    A merry heart does good like a medicine; but a broken spirit drieth the bones. Proverbs 17 verse 22
  • Mon, Oct 13 2008 9:35 PM In reply to

    Re: DEBT FREEZE

    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!

     

  • Mon, Oct 13 2008 11:20 PM In reply to

    • Kim_150
    • Top 150 Contributor
      Female
    • Joined on Sat, Oct 4 2008
    • Green Bay, WI
    • Posts 525

    Re: DEBT FREEZE

    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. 

  • Mon, Oct 13 2008 11:55 PM In reply to

    • MarthaMFI
    • Top 10 Contributor
      Female
    • Joined on Wed, Apr 16 2008
    • New Westminster, BC, Canada
    • Posts 10,850

    Re: DEBT FREEZE

    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!

    Officially recognized Stretchpert in Hobbies and Crafts
  • Tue, Oct 14 2008 12:27 PM In reply to

    Re: DEBT FREEZE

    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. 

    Carol
    western NC
  • Tue, Oct 14 2008 4:07 PM In reply to

    Re: DEBT FREEZE

     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
    Beginning Debt Slayer


  • Tue, Oct 14 2008 5:38 PM In reply to

    • AmyC
    • Top 100 Contributor
    • Joined on Wed, Oct 24 2007
    • Posts 868

    Re: DEBT FREEZE

     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!

    http://carneyexploits.blogspot.com

  • Tue, Oct 14 2008 6:51 PM In reply to

    Re: DEBT FREEZE

    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,

    Michelle in Northern Michigan

    "Those who would surrender liberty for security deserve neither" - Ben Franklin

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