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There's light at the end of the tunnel

May 13th, 2008 at 06:26 am

Just for fun, last night I used one of those online debt snowball calculators to figure out when my whopping debt will be paid off.

In the past, I just didn't want to project that far because I knew it was going to be a looooonnnnngggg, slooooooowwwwww process. But now that I have my personal credit card paid off and have more money to put toward the other debts, I was curious to see what would happen as my payments increased drastically.

I was pleasantly surprised to see that within this decade I'll have everything but the mortgage paid off.

"Within this decade" may seem like a long time for most of you, but considering the original amount of my debt I'm feeling pretty good about it.

Of course, this is all based on my current payments. My plan is to make even larger payments as our income increases and as we have extra money available from windfalls, so the time to pay it off will shorten drastically with any luck.

4 Responses to “There's light at the end of the tunnel”

  1. mooshocker Says:

    God bless you on your continued journey. Someday you will look back on these threads and take great comfort in knowning you did it. Then you can focus on helping others.

  2. Petunia Says:

    Good for you! It sounds like you have a target - a decade - and motivation and a plan to beat your target.

  3. managinglife Says:

    Wonderful goal! Keep up the momentum!

  4. scfr Says:

    Keep moving towards the light!

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