Bye Bye QVC!

Baby Step Two in Dave Ramsey's Financial Peace University plan is the debt snowball. In this step you list every debt out from the smallest balance to the largest balance. The plan is to attack the smallest balance first with 'gazelle intensity'.  Since completing Baby Step One, we've been working on our first (smallest) debt: QVC.  We owed them $40.91 and I'm happy to say the balance has been paid in full. 

Our next debt is to Old Navy. That balance was just over $80 and I had a little extra after paying QVC so I was able to pay $38 on it. Our next Payday is this Wednesday and I'm hoping we'll be able to pay it off completely then. 

So far, the extra money to build the starter emergency fund and the debt snowball has come from piano lessons and selling on Craig's List. I am just amazed at how quickly little things add up!  This week I sold a floor lamp that we never use for $15, hot rollers for $15 and a bike for $10. Those alone paid off QVC. I just find it exciting to be making a dent in this mountain of debt. 

In other news, I have been working hard on Christmas presents and hope to have some crafty posts up soon. :)