Debt Snowball Report.

We started on May 30th, and to date so far we have paid off $4,746.98 of zero-based credit card debt. We plan on paying another $2,621.31 by the end of June. In the interim, we paid our HOA quarterly fee of $1226, got a certified bank check for $1,500 as our RV down payment and somehow managed to put an additional $1,650 into our savings account. WHEW!

Then we will be taking a break from paying down our debt for the first two weeks of July because we’ll be in Michigan picking up our new RV. On our way back we’ll be spending a few days at the Letchworth State Park in upstate New York (click here).


Letchworth is oftentimes referred to as  ‘The Grand Canyon’ of the east. DH and I have been looking forward to visiting the state park for some time. Now, with our RV, it will be possible.

Once we are back from vacation, we will be ‘attacking’ the last strand of old consumer debt in the amount of $5,729.60. We set up a six week plan of paying $955 a week (with a final adjustment on week #6). Once this final debt has been paid off, DH and I will have paid off approximately $13,097.89 in consumer debt (not including the HOA, RV down payment or savings).

Why are DH and I so gung-ho in paying off this zero-based consumer credit debt (after all, it’s at 0% and we have many more months to go)? We did it to make way for NEW consumer debt, in the guise of the RV loan, which will be slightly under $15K and spread out over 10 years. DH was fortunate to take on this high-paying project work purposely to pay off the old debt and make way for the new debt. Once DH complete this job, it will be his last. He will officially retire. He will probably sell his car (since we won’t need two cars anymore) and pay off the RV loan balance in full. Could we have waited? Should we have waited before we bought the RV? In retrospect……..NO…….life begins today. Especially when you are in your sixties and life is ebbing away. Let the young work, toil and save. We sixty-somethings have a time limit.

Once DH officially retires at the end of August, come September DH, the dog and I will pack up our RV and start touring America.

Go west, old man. Go west.

And so we shall.


There are over three separate falls at Letchworth.


4 thoughts on “Debt Snowball Report.

    • Hi Florence. I agree. You (plural, meaning everyone) can not go into retirement with debt, IMHO. It just doesn’t work out. Especially if you (plural, meaning more than one) have debt. Of course, there may be some exception to this rule but from what I’ve experienced, retirement is so much better without that debt hanging over your head.
      Thanks for your comment.


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