How We Plan to be DEBT FREE by 2014
With careful planning, I found that we can keep what currently have: cable, internet, and cell phones, while still getting out of debt. I also took into account $200 in spending money, $100 for each of us, and $100 a month for family money (going out to eat, new pair of NEEDED shoes, etc). This does not take into account bonus money or a raise I will be receiving upon my professional certification in teaching. With firmly standing behind the amount of money we can spend in each area ($300/groceries, $360/gas) we can not only use the current $785 we pay in student loans each month BUT ALSO another $1,000 while still saving $400/month for a newer vehicle for my husband! With $1,785 going towards student loans each month we can be debt free by December 2014 which means I can be a stay at home mom!!!
Sure it seems easy for us because we have two incomes, but with careful planning and cutting out wants wherever possible, you too can climb out of debt OR save for that vacation, new car, whatever it is you need!
My motto: A few days of "hardship" can lead to a lifetime of "triumph"...that's how I make it through the store without buying frivolous things.
