Let’s Talk Numbers

After I graduated from my dear Alma Mater, I had around $21,000 in debt. My husband had about the same. After capitalized interested was added, we had around $45,000 in debt.

We took a Dave Ramsey course while we were engaged, and we both knew we wanted to get out of debt ASAP. But in our first year of marriage we were, well, less than intense about sticking to our budget and putting as much money toward our debt repayment snowball as possible. Let’s just say we bought a few too many football tickets and patronized our local Chick-fil-a more than we care to admit. When our older daughter was a few months away from making her big debut and I was about a month away from quitting my job to stay home full time, we realized we needed to stop messing around and to get serious about our finances. We cut out any unnecessary expenses, paid cash for everything except online bills, and basically just spent as little money as possible. Most of our loans were in deferment, but we were still having a hard time making ends meet. (Side note: wouldn’t it be nice if public school teachers made enough to–I don’t know–support a family? Maybe?)

That whole first year after our older daughter was born was basically just surviving month-to-month. It wasn’t until Charles left teaching for a new profession that we’ve been able to make a dent in our loans. So, between putting everything we can from Charles’s paychecks at our loans, a few very generous gifts from parents/grandparents, and me eBaying my hiney off, our current balance is… wait for it…

loan balance1$10,919.32

We had seven different student loans to begin with, and we’ve paid off all but this last sucker. Over the past year (my inaugural year into the world of online sales) I was able to pay several thousand dollars in extra payments on our loans.

I would love for us to be debt-free by the end of next year. We moved last month (and just about doubled our rent payment), so that has really put a damper on our being able to spend much on loans from my husband’s paycheck. Until he passes a few more actuarial exams and gets the accompanying bump in his salary, our loan payments are going to be coming solely from my eBay income.

That thought is a little daunting to me. However, I’ve had success in the past year from eBay, and I know that the harder (and smarter!) I work, the more I’ll earn.

Well, there you go. I’ve got a little under $11,000 I’d like to pay off in the next 12 months, and it’s just about all going to come from eBay. Let’s do this!


4 thoughts on “Let’s Talk Numbers

  1. Erica,

    Way to go! You have certainly knocked out a lot of debt. Our loan balances are similar and I have no doubt that you’ll be able to knock that out with eBay!

    I’ve added you to my rss feed so that I can keep up to date with your progress.

    Good luck! 🙂


    • Thank you, thank you! I don’t know why it’s taken me this long to seek out other people doing the thrift/debt repayment thing. It’s really encouraging to see other people working toward the same goal that I am. Thank you for the comment!


    • Hello! $11,000 left remaining of the $45,000 total. We have followed the Dave Ramsey snowball method and started paying off the lowest principal loan first and have worked our way up to this last one.


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