Become Debt Free Sooner

October 31st, 2007 | 7:38 am | Posted in Credit Card, Finance, Motivation | 7 Comments »

Debt SnowballWow!

Through Happy Rock‘s blog, I found a debt calculator that actually peaks my interest.

It’s based on the Ramsey snowball method, which I’ve sort of done in the past, but not really. I tend to try to pay down all of the debts at the same time. Sometimes it works, sometimes it doesn’t.

Eitherway, it’s a lot easier to just punch the numbers into this calculator from What’s the Cost than it is to set up your own cryptic spreadsheet. That’s the route I’ve always taken… until now.

The one feature regarding introductory rates doesn’t seem to work correctly, but that’s really not an issue in the grand scheme of things. Finally… a calculator that isn’t just the same old recycled drivel…

My Debt Snowball Chart I plugged in my numbers and things look good. I’m motivated to get things rolling on the fast track again. Even printed it out and taped it to my desk at work right in front of my keyboard.

I think I’ll stick to this schedule, with one exception. I’m still planning to pay off the Bank of America card in full by the end of the year. This schedule has it being paid off in January.

And, just think, this way I’ll be done even sooner!

7 Responses to “Become Debt Free Sooner”

  1. Debt Payment Plan: So far, so good… » pantsinacan.com Says:
    November 7th, 2007 at 9:16 am

    [...] one week into the new debt reduction plan and things are going just [...]

  2. Black Friday Fast Approaching » pantsinacan.com Says:
    November 14th, 2007 at 8:13 am

    [...] could be a big event this year — under the new budget, the money will be there, if needed, but I don’t think we’ll take advantage of the [...]

  3. Mmm… Credit Crunch… » pantsinacan.com Says:
    November 20th, 2007 at 9:54 am

    [...] then I look at my little chart and realize I’ll be debt free by then anyway and into the trash they [...]

  4. Expanding the Debt Payment Plan? » pantsinacan.com Says:
    November 29th, 2007 at 9:47 am

    [...] are going so well with the debt payment plan that I have in place now (even though I’m only entering my second month…), I’m [...]

  5. Goals for 2008 » pantsinacan.com Says:
    December 3rd, 2007 at 4:21 pm

    [...] and foremost, my goal for 2008 is to eliminate all credit card debt. This should be completed sometime during the summer of 2008. Done. Finis. [...]

  6. Citi Card Paid Off » pantsinacan.com Says:
    January 17th, 2008 at 8:55 am

    [...] But still, this puts me a good five months ahead of schedule on my snowball plan. [...]

  7. I’m in the Black, not just on Paper, but for Real! » Pants in a Can Says:
    September 25th, 2008 at 5:47 pm

    [...] original snowball plan that I started back in November 2007, which had a total balance of $23085, and included the auto [...]

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