Debt free in 2018!


In August I decided to take on a second part-time job because, ironically, it enabled us to afford child care while I’m at my first part-time job. It was a hard decision; I so enjoyed being a mostly stay-at-home mom and my husband has worked very hard to make that possible. But when I explained to him that this would give us $600 additional income each month and if we put it all towards our credit card debt we could be debt free in just over a year he quickly got on board.

Back in August we were paying $100 more than our minimum credit card payments each month and looking forward to being debt free in October of 2019. Not terrible, but on our new plan we are shaving off a year – debt free in October 2018 – and saving ourselves almost $1500 in interest!

Now, I’ll be the first to admit that we aren’t perfect. Life happens. “Emergencies”, YOLO moments, etc. But if we can keep moving forward with this strategy even after we get sidetracked or have a less than perfect month I will count that as a huge win. This will take some serious and constant motivation and I’ll share in a future post how I plan to keep us motivated towards our goals.

That being said, I’m proud to report that we currently have less than two payments left on our highest interest card and an expected debt free date of November 2018.