Thursday, May 6, 2010

My Latest Challenge...I Need $1500

Quite a while ago I posted my list of financial goals. Seems I completed two goals then kind of slacked off (stuff like travel got in the way). So when I got hubby's latest Target bill, I was so annoyed with it (high interest plus it is a credit card and I hate credit cards), I decided to throw my entire check ($3000) and bonus check that I will be getting in a couple of weeks ($2000) at it. Which leads me to my latest challenge...I need to earn $1500 within the next two weeks to pay our house payment. I know most people would think 'pay house payment first' then pay debts but for some reason this debt has been hanging around forever and the only way I can see to kill it completely is with big chunks of money in order to pay it off all at once. If I can't make my goal of $1500 I am willing to use my emergency fund to cover the house payment (I can hear Dave Ramsey groaning now), but I have a number of ways planned that I think will help me reach my $1500 goal. These include:
  • Since we are planning to downsize (unfortunately no takers on the house yet) I am selling the newish queen-sized bed from our guest room on Craigslist (our smaller place won't have room for a guest room).
  • I am also selling a bunch of other stuff on Craigslist that is currently stored in the garage (mountain bike, TV, Ikea closet system, roll top desk, etc).
  • I am eBaying purses like a mad woman. I have a number of designer purses (mostly Coach and Le Sportsac) which seem to eBay well.
  • We will be having a garage sale this weekend.
  • I will even sell more gold if I need to.
  • Also, since my no spend week, I have only spent less than $25 total on groceries. No makeup (yet), no nothing else that was on my shop list. I may need to take frugal to the extreme for a month or so but paying off this debt will be so worth it!

Anyway, like I said before, hubby doesn't like change and he hates to part with ANYTHING but he has been a good sport about this because he knows that I am so focused on getting out of debt that he probably figures he better get out of my way or I will eBay him next. Actually, since I always include all of the positive things about how getting out of debt will help us (ie: we can travel more, I can work less, he can keep his entire pension and spend it however he likes instead of on bills) he has really come around. For someone who didn't want to part with the house, he is the one who "stages" it every morning before we leave just in case prospective buyers stop by. He even mowed the yard a couple of days ago and mowed a nice pattern into the lawn to catch people's eye.

I've read quite a few blogs where people have described how desperate they were to get out of debt that some even sold literally everything they had in order to become debt free. That is about the point I am at. The peace of mind that comes with being debt free is worth way more than a closet full of designer duds or the latest electronics!


  1. I wish you luck in finding $1500. I think you have the right idea about selling big ticket items. If you are downsizing, maybe you can take a minimalism approach to decorating the new house. This way, you only use essential pieces of furniture for each room. Any furniture deemed nonessential can also be sold on Craig's List to help you earn the $1500.

  2. Based on descriptions of your belongings in this, and previous posts it seems you were quite the consumer (as are many people in the US), probably fueled with nice paychecks and bonus checks like you will receive. (Indeed it was a trap I fell into when I had a corporate job with an ample salary.) And so, I am even more impressed by the apparent 180-degree turn in your values and your single-mindedness in becoming debt free. Good for you (and hubby)!

    Best of luck as you pursue that $1500 in order to preserve your emergency fund--and save Dave Ramsey from a fit. ;-)