Our Estimated Total Debt & A Goal

Over the weekend I tallied a rough estimate of our total debt.  Not including the mortgage.  I wanted to throw up!  I’m ashamed to even tell you the amount, but hey, this is one of the many reasons I started this blog.  So here goes nothing…. dun, dun, duuunnnnn…..

an estimated $20,000!!!!

I wish I could say this is all “good” debt.  You know, the kind where you will actually own your own vehicle or something like that in the end.  Well, some of it is.  We will actually own two vehicles and have my student loans paid off.  Woohoo!!  But the rest is bad debt. 😦  Like the Polaris RZR we used to have, yup, still paying on it.  We’ve not even had it for almost 2 years.  Or that jewelry company I signed up to be a jeweler for, yup paying on it. Oh, and the credit card debt that has built up from doctor visits.  Not to mention and IRS debt from when Mr. Penny Chaser received unemployment benefits and had no taxes deducted.  Shew, will it ever end?!  

Okay, enough about all that sadness.  Life is about learning along the way right?  Because we have definitely learned a few… the hard way.  I’m ready to set a goal for paying down this debt, like NOW!!!

Goal:  Pay down $5000 of the debt by the end of 2013.

I think that’s pretty realistic.  I’m depending on this ol’ blog of mine to help me along the way.  All encouraging comments are welcome. 🙂

Goal set!!  Now, what can I sale?? 

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4 thoughts on “Our Estimated Total Debt & A Goal

  1. $5000 in a year is definitely achievable! Excluding January and February, there’s exactly 10 months till the end of 2013. That boils down to $500 a month from March onwards. Assuming your household income is the American average of $50000 per year, all you gotta do is allocate 12% of your monthly salary to debt repayment for the next 10 months and your goal will be reached. Cheers!

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