One of the biggest reasons for creating MommyLuvs2save was to create a community of moms and dads who want to help their family save money when buying essentials in order to free up money for debt repayment. My own family has paid off over $111,500 in consumer debt including credit cards, student loan debt and 2 vehicles. I am a teacher at heart. I want to use the skills that I have learned to help YOU ditch debt. I want to encourage each of you in your efforts so that one day you can feel the freedom of being debt free. I’m not quite there yet either (we still have a mortgage) so I need encouragement as well
It can be very difficult to pay down debt. There are many temptations to spend money. We live in a culture that encourages debt and spending. In addition, expenses come up and there never seems to be any extra money for paying down debt. I want to urge each of you to participate in a challenge. Just leave a comment about one positive step you’ve taken for your family each day. Did you eat in instead of going out? Did you save money at the grocery store? Did you pay extra on your credit card? Leave a comment below and we will cheer one another on every day and every step of the way.
The challenge is to leave a comment about what YOU have done to work on getting debt free each day. One winner will be chosen to win a $50 Amazon gift card at the end of each month. To participate in the challenge you must comment on at least 10 posts during the month.
* I will also be sharing my progress from the day prior.
My Progress : Well, dum, da, da, dum… (drumroll please), as many of you may have already guessed from my hints yesterday, we accepted an offer on the old house. As I told you, we got an offer and split the difference in our counter offer back to them. I was fully expecting to go another round in negotiations. My hubby and I agreed that we were going to take whatever they offered back to us. We had to be realistic. It’s a 7 story split townhouse with NO central air. My goal was to sell before it got too hot.
To my shock and amazement, my realtor texted me at about 9:30 am saying that they weren’t even going to counter. They accepted our offer~ done. He wanted to know when we could come to sign the paperwork. We decided on 6pm. I was elated all day. You have no idea what a relief it will be to get back to having one mortgage. When I did the math, it looks like the old house including the mortgage, association fee and electric bill is costing us about $2,200 per month (it’s a 15 year mortgage). I will be happy to funnel that into paying down our current mortgage. We should also walk away from settlement with a nice check that will go right on this mortgage. I think my hubby would like to take a trip to Hawaii or buy something big (the old house is just in my name as I’ve had it since before we were married. While waiting for me to sign the paperwork my husband took the girls to look at new mini vans across the street. When they came back they were begging me to buy a mini van- not gonna happen, sorry), I feel like we will be so much better off paying a huge chunk on this mortgage. We may take $5,000 out or so to have some fun and buy a swingset, but the rest is going to GMAC. We do have to get through the inspection phase in the next two weeks. I’m a bit nervous about that because you never know. It has a brand new top of the line roof on it so that helps.
Well, anything else I did yesterday pales in comparison to the big news, but I did get a FREE card from the Cardstore deal. We went out to dinner to celebrate the house news. I used a coupon for FREE chips and Queso from Chili’s and for some reason the girls wanted to drink water with dinner – bonus. I also got more free UP2U gum from CVS.
I want to take a minute to say congrats to Brittany on the birth of her daughter Hannah yesterday. I can’t believe she made the time to leave a comment upon going into labor to let us know. She also came back on 90 minutes after having the baby. Brittany, you are one tough lady. If you can do that, your debt doesn’t even have a chance. It’ll be gone in no time. I guess we both had an awesome leap year day. Yours beat mine though. You can’t top having a new little miracle to join your family ~ congrats!
What did you do ? I hope you had a blessed day. Leave a comment You could be the March winner. I can’t believe it’s March already. Wow ! You could make 2012 your year !