Chasing the Bull

As you know, my wife and I are following Dave Ramsey’s Total Money Makeover Plan. So far, we have cut out a good deal of stupid spending and have concentrated on only buying things that are in our budget. Additionally, as part of Dave’s plan, we are focusing on eliminating our debt. With that in mine, this week I sold some stock in a cash account in which I was testing out some of my investing theories. The proceeds from this sale arrived this morning, and by noon, my wife had deposited the money AND sent a check off for our personal loan.

I have got to tell you that it feels pretty good to have done that. Scratch $5,155 off of our consumer debt. We will never let that happen to us again.

Current Update:
Personal Loan: $2,480.17
Student Loan: $10,368.65

In the next few days I am anticipating our economic stimulus check. Once this arrives, we will apply the $1,500 to our personal loan, which will leave a balance of $980.17. If we make the minimum payment, it will take us just over 2 months to pay that debt off. Then we will attack the student loan.

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