Debt Confession | February 2024 starting Debt | Over 22K paid off!
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- Опубліковано 22 лип 2024
- #debtconfession #debtfreejourney #debtsnowballupdate
Hi guys, this is month 15 of our debt pay off journey. Starting debt was over 77k and now we owe 54k. Were a family of 5, my husband and I both work full time and were doing what we can to pay off our cc debt while living a life we love at the same time.
#debtfreejourney #debtconfession #debtsnowballupdate
Great video! Wow, you are making so much progress towards your debt. I love watching your videos because you have a real budget with real life situations that people can relate to. I have enjoyed seeing your success!
Thank you Mrs P, I appreciate your support!
Even though it stayed constant, any progress is great progress
You got this! Debt will no longer control our lives for we will take control of it! Here to support you ❤❤❤
Thank you so much, yes, I'm claiming it!
If I caught you correctly, once Chase Disney is paid off, you are going to put an emphasis on Home Depot? While not in snowball order, I would skip past the $50/ month, 0% interest, no interest bubble, hospital bill in terms of emphasis. As mentioned earlier, I would keep with the current minimum payment on the regular Home Depot charges even if they accured close to $15 in interest charges last month. Further, I would put emphasis on the one or more promotional balances which are possible to pay off during thier promotional time.
You’re making progress! 💰💵
On the Home Depot debt, break out each promotional balance and the general card amount into separate line items. When you break them out on a seperate list, include the amount of each and the due date. Treat each line item like a seperate account and each due date as an independent deadline. Did you know that you have a minimum balance for the regular card which is seperate from any required for upto each 0% interest balances? Further, you can direct payments to individual 0% promotional balances? Look at your promotional balance profiles, decide which you can save from interest, and put emphasis on those.
If you miss repayment of a Home Depot promotional balance, the interest for the original purchase price is applied in a compounded manner for the entire time of the promotion by adding it to the amount owed. You then begin to pay interest on the sum of the calculated interest as well what was left owing from the original purchase. Further, Home Depot interest tends to be on the high side.
Good morning Terry, yes, our two promos end in April so we will start tackling them after chase. I need to contact home depot about how to make sure the larger payments we make go towards the promo balances bc I'm not sure when I make a payment which balance it is going to and I definitely don't want to accrue that back dated interest. I think mentally I want to get rid of chase first bc before we added home depot it was our lowest card. Home depot was just added in Sept or October 23. I appreciate your insight!
@@mrssummersbudgets i believe that if you simply submit a larger payment to Home Depot, they automatically apply it to the regular credit card balance. I strongly recommend that you call and talk to the credit department direct,y. Take notes in the day you called, who you spoke to, and what they said. Also make sure you know what the processes are to make a payment directly on a specific balance.
Are you going to be able to pay @$700 on Chase Disney and @$2500 on Home Depot by the HD promotional dates in April? If not, are there some savings to be found by shifting your emphasis? If you pay HD in store in the last date and/ or close tomit any where, be sure to ask the HD credit department how to get credited for the pay off in time. Right now, the HD credit accounting systems are backed up a d/ or they are changing how they are doing it. We made a charge Wed of Black Friday week then went to pay it off on actual Black Friday. It was about a week before that charge showed in the system at store level.
@@terryhenderson424 I called home depot and I have approx 700 due by April 14, approx 500 due by may 14 and approx 800 due by March 2025, the rest is not on promotion. I was able to go into my account online and select a little check box stating that I wanted any payment over the minimum to go to the April promo balances. We will try our best to get it done! 💪
@@mrssummersbudgets Broken down, it doesn't seem near as impending! Even if you have to dip into savings. Get those April and May balances paid. The 2025 balance has a way to go. I would suspend the faster payoff on the Disney card in order to get the HD 0% interest debt paid off on time. Sooner rather than later, see if you can get the HD credit folks to tell you how much interest will be added to each loan if you miss the payment date.
@@terryhenderson424 each of the April balances has 26 and change in deferred interest right now. So a little over 50.00. We're getting ready to start some savings challenges so I think we can do it.
New subbie! Love the visuals. Happy to follow your journey💚
Thank you so much for being here! I appreciate your support!
You're making great progress! Thank you for sharing your journey... very inspiring!
Thank you so much, I appreciate your support ❤️
Great progress! It is great to see it go down month by month! Proud of you!
Thank you Allison 😊
I love these videos, too!
Wow, you’ve paid off a lot since you started. That’s impressive 🎉🙌🏼 some months are just going to be a little slower, but you’ve proved to be consistent. I know you’ll get there.
Thank you Katie, I appreciate your support ❤️
Keep up the good work. You are achieving your goals.
Thank you so much, I appreciate the encouragement!
🎉nice work 🎉 congrats I'm so proud of you 👏
Thank you so much ☺️
🎉🎉🎉🎉 wow 30% is AMAZING!!! Well done!!!!💜💜💜💜
Thank you kathy!
I love how realistic your videos are. Achievable goals. Consistency.
Thank you Stephanie ❤
@TheBrooklynWay2 ❤❤❤
I love to color in my debt trackers 🐱
Soooo satisfying!
Over 72,000 and now down to 54,000 girl you are making amazinggg progress!!!
Thank you! We used our tax refund money and my husband sold his mini skid steer to get us down that much last year. We won't be able to do that again this year but we're still moving forward, consistent progress.
What budget book are you using? I am new to budgeting and to your channel. I love the simplicity of this book and the helpful instructions on how to tally things.
Hi, thanks so much for tuning in. This is the budget moms budget by paycheck workbook. This is an older version I got on ebay for cheap. Her new version is very similar, very few changes, it is about 50 or 60 dollars though.
@@mrssummersbudgets thank you so much. I'll look in eBay too but in the meantime I will put a few dollars aside each week for the purchase. Thank you for sharing your debt journey
@@raundar2886 you're welcome and thanks again for watching :)
New subscriber! Where did you get your coloring sheets from?
Thank you so much for subscribing. These sheets are from debtfreecharts.com