Monday, December 6, 2010

Day 53 - It's All About the Benjamins

December 6, 2010

Been Around the World / All About BenjaminsAs many of you know, I base most of my debt payment principals on Dave Ramsey's Baby Steps. Ramseyheads are notorious for intense enthusiasm and I will confess I'm no different.  When you hear how much money has been paid off by people all across the country it's difficult not to get excited at the thought.  I will attempt to keep my enthusiasm in check while blogging but I can't make any promises.

Right now we are working on Baby Step 2 - pay off your debts (except for the house) beginning with the smallest balance first and working your way progressively through the next largest balances.  Our smallest debt balance is one of Mike's student loans with $7,255 remaining at the end of November.  We would really like to pay off this off by New Year's Day (give or take a few days) and we are racking our brain to find a way.  I need your help - can you make money grow on my Christmas tree?  Or at least give me some money-making ideas.  Right now, we have three payments of $1,625 scheduled to put towards this debt in December and early January.  AND.....drum roll please.....Sarah has made an extra $1,000 (after-tax) appear this month by getting a bonus at her job. Voila! Let's see if Mike can create magic and come up with the remaining balance.  When you count the two minimum payments we make in December and January of $134, it leaves $1,110 not including some additional interest accrued.

In the immortal words of Puff Daddy (aka Sean John Combs, aka P. Diddy, aka Diddy, aka.....)

It's All About the Benjamins

So where do we find some??

Stay tuned,
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