Yep- I am one step further in becoming debt free. And I am doing a small happy dance right now. I have paid off one of my three credit card bills! :-)! :-)! :-)!
Will you join me in the happy dance?
I know that I haven't completed Step 2 yet- the trip to Disney and Christmas made it harder to save than I wanted. Until I get the Short Term Savings where I want it, I will only be paying minimum on my two outstanding credit card debts.
In case you care, here are how my baby steps are coming:
1) Save $2000 in long term, high-yield savings account.- DONE!
2) Save $1000 in short term, (emergency) savings account.- about 2/3 of the way there
3) Pay off three remaining credit-card debts- getting closer
a) Wachovia Credit Card- DONE!
b) Northwest Credit Card
c) Chase Credit Card
4) Pay off car
5) Save 3 to 6 months worth of expenses in high-yield savings account
6) Start investing 15% of income in retirement (either Roth IRA or pre-tax retirement plan)
7) Buy a home, build wealth and give freely!
If you are in debt- do something about it. I still have quite a bit to go, but knowing I am making a dent in it is freeing... and what has really helped? having a written budget. Do it- it is worth the peace of mind!
Now, to complete Step 2... and then finish step 3. I think I can, I think I can, I KNOW I can.
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