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The Best Late Plans

December 31st, 2008 Leave a comment Go to comments

I have a spreadsheet planning out our stages to become debt free:

  1. Snowball credit card debt into oblivion (watch our progess on the gauge to the right.)
  2. Save six months expenses.
  3. Pay off our mortgage.

There is a row for every payday, showing how much is going to which goal, so I can see when we will be out of debt.

This plan starts on my next payday, January 2nd, 2009, and I am already three weeks behind.  It can be very frustrating when a plan gets off track.  We ended up over spending for Christmas, which is a one time thing (it just happens, a lot.)  And now, the replacement car we purchased in November is having problems and not running so well, so I need to take it in to be serviced, causing us to dip into our emergency fund (See?  You need an emergency fund.)

So now we will need to step back and replenish the emergency fund before we start moving forward again.  It is almost guaranteed that this will happen to you multiple times.  Don’t get discouraged, it’s the normal way things work.  Just keep focussing on your goal:  Freedom from debt.

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