Hello

[Monix]

I have been using DebtGoal for a couple of years too and have learned quite a bit! I too got caught up in the stupid tax (credit cards) and knew I had a serious problem when the economy began to tank and the cc companies wanted to raise all my fixed rates to outrageous variable rates. I closed all my accounts - I know many say don't because it will damage your credit score, but I have seen no evidence of this to date in my case. For one credit card, closing it was not going to solve the interest rate issue, so I took out a loan at a lower fixed rate to paid it off. I have always had excellent credit despite the amount of debt I had accumulated, so getting the loan was not a problem, but seeing the amount in one big number was sickening.

I know the economy meltdown has been bad for many, but for me it has been a blessing. It caused me to seriously reevaluate how I saw money. It was using me and now I see it for the tool it is and have totally readjusted my thinking on spending. I have goofed up from time to time, but those goof ups are minor in comparison. I just pick myself up, change that behavior, and continue with the plan.

I have cut all my utilities by being consciously aware of lights being on, water running needlessly, etc. For TV - it is Netflix and the library...I did not watch most of what I was paying for every month anyway and use the internet for everything else. My phone has been VOIP for years...a pretty fixed bill of $30 a month for unlimited everything calling. My cell phone is prepaid, so it costs me about $25 a quarter. Lots of things like that...

I love DebtGoal..because it helps me to be in control of my $ and to see progress every month. I KNOW now that I will be debt free in the near future versus the old plan of never.

[ThriftyMan]

Thanks, Monix. Nice to hear your story. I think it's interesting that you closed your credit card accounts. I really, really like that move. It turns them into loans with a fixed payments and a defined payoff date. It also keeps you from continuing to charge.

I'm interested about the credit score and would love to hear from others if their score was impacted. I think the credit score is important, but it's second (distantly) to getting out of debt. Credit score only matters if you want more debt and let's hope that doesn't apply to any of us any more. So doing this must have been like jumping off a cliff into a cold stream. Scary, then shocking, then exhilarating, then just satisfying.

Thanks for sharing!

[sssxreaew]

Best of luck