Tuesday, December 7, 2010

2011: The Year of Paying Off Debt?

According to the Chinese Calendar it'll be the Year of the Rabbit, I'm hoping that it's also the year I pay off all/most of my debt!

I do have some hurdles a.k.a expenses in the beginning of the year. Then I could really focus.

Traveling will be the death of me if I keep it up. I really don't plan on traveling to far off places after my Europe trip. I hope the next trip I take will be paid in cash and I'll be basking in debt-freeness.

I have Miami booked late January 2011. I'll be in Florida for work and a few co-workers suggested a side trip, which I said yes to. I will only be there from a Saturday - Monday, and I plan on keeing my spending down. Flight is paid for by my work, but I'll have to take care of hotel and expenses.

Second one is a trip to Europe with my mom in mid-February 2011. I booked this a few months ago and it's $1779 out of my pocket. I'm currently paying it in installments taking advantage of a bill me later option with 0% financing if paid in full by 2/2011. I've knocked a little more than $900 of that so I'm getting closer to paying it off.

We'll be there for seven days, so it's a fairly long trip. My mom said she'll pay for most of the daily expenses like food, but I'd like to bring a comfortable amount of money with me as well for just in case.

After that I've developed a plan of action for the rest of the year. I hope to stick with it.

So some of my favorite financial blogs include:
Free Money Finance www.freemoneyfinance.com
Get Rich Slowly www.getrichslowly.org
Blogging Away Debt www.bloggingawaydebt.com
*My main motivation to start a blog, she's almost at her goal and she started with $38k in debt.
DINKS (Dual Income No Kids) Finance www.dinksfinance.com
Enemy of Debt www.enemyofdebt.com
The Financial Philosopher www.thefinancialphilosopher.com
*I really like this blog as well. It's not numbers and formulas type of blog, but it pretty much reiterates meaning before money and purpose before planning. I know I'm in debt, but the Europe trip I talked about above is something I've wanted to do for a long time, and to do it with my mom makes it even that much more meaningful. By the way, we booked it because I turned 25 this year and she turns 55 next year (we'll be in Paris on her birthday).

I plan on linking a few articles as I go along with this blog. I absolutely love these blogs.

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