A Debt Ladder

Today I spent some time on the computer making a debt ladder. Taking our credit cards and putting them in order from least to greatest. Then I added the $200/month savings from disconnecting our internet and phone to our lowest credit card bills monthly payment. Going from $100 to $300/month. So basically in 6 months I will have that one paid off, then I will roll the $300 to the next one and move up the ladder.

There are a few options, the first one is that our car will be paid off in 2 1/2 years. So that is exciting as we get higher on our ladder and need that money, it cuts our time down by 1 year. And because we do owe to the government, hopefully we can negotiate and then that can lower it another year. So we are excited.

Seeing it written down does help to keep us focused and it doesn't seem so daunting.

My goal is to print it out and put it on fancy paper and then tape it up by my bed so I can have my focus be on that, and pray over it each night.

So within 4-5 years we could be completely debt free, only house and 1 car and then some regular monthly bills. Oh what the Lord will have us do with the money He is freeing. I can't wait. I hope to encourage others in this venture as well.

God bless.