Debt Confession ~ Starting Over! New Year New Changes ~ January 2025 ~ Month 1!

[@debratakagawa4764]

I don’t know if you can finagle this but for loan 2 if you can pay the interest in addition to the minimum amount of your loan that will get that loan to go down much faster.

[@budgetwithlisa2024]

@@debratakagawa4764 Hi! Thanks for watching. I forgot to mention it in the video that we are doing the debt snowball method starting in February. Loan 1 is the first to be paid off because the balance is smaller, followed by Loan 2, then auto. ❤️

[@BudgetingOver40]

Hi Lisa. Good luck in 2025 and on your journey.

[@NotesOnTheGoodLife]

You got this, Lisa!! I believe in you guys and that you’ll be able to pay down those loans. Definitely rooting for you!

[@budgetwithlisa2024]

Awww Thank you so much, Erika!! Appreciate all the love and support 🤗🤗❤️❤️

[@CruzBudgets]

Loan #2 interest is insane!! I’ll be rooting for you Lisa! You got this 👏. Thank you for sharing your debt. Yes to magic months! That’ll make a nice extra payment towards your debt. Here’s to a successful 2025 🥂

[@budgetwithlisa2024]

It is! We feel good about 2025 🤗❤️ Thank you so much amiga!! 🤗🤗❤️❤️

[@Sitasbudgetingjourney]

Hi Lisa, here’s to 2025 and getting that debt paid down. Interest can swallow up your payment for sure. I’m here to support your journey and cheer you along as you navigate your way to towards financial freedom ❤

[@budgetwithlisa2024]

Yes! Thank you for being here, Maria!! 🤗❤️

[@debrasjourney]

Hi Lisa, Happy New Year! I’m rooting for you to payoff your debt. 🎉😊

[@budgetwithlisa2024]

Happy new year, Debra!! Thank you so much. I truly appreciate you being here 🤗❤️

[@FinancialDreamswithChristine]

Yay!! So happy to see you back! Missed you! 💗💗 There’s nothing like a fresh start! Cheering you on as you crush your debt! 💪 Wishing you all the best in 2025! 🎆💗

[@budgetwithlisa2024]

Thank you so much my friend. Hope all is well with you and the family. 🤗🤗❤️❤️

[@tmusa2002]

I don’t know what all of those personal loans are for but assume it’s Christmas presents, restaurants, and quite possibly things you’ve used up, tossed out, or gave away. possibly some home improvement. For those items you are paying $887.47/month on top of the purchase price not yet paid for in many cases. Please try paying cash only. It feels fantastic to know everything in my home, garage, and stomach is paid for. I’ve had my own debt journey. You’ve got to change habits!

[@budgetwithlisa2024]

The personal loans are for home improvements ~ roof, boiler, windows. We’re starting our debt snowball next month. The plan is to pay off Loan 1 & 2 before the end of the year then move on to auto loan.

[@LexJourney1]

Yes interest rates for my credit cards are getting me so bad right now. Great tracking!! Wishing you much luck in the new year

[@budgetwithlisa2024]

Happy new year! Credit card interest are the worse. Consolidating the last two credit cards was the best decision for us. Thank you so much! ❤️❤️

[@moneywithjustliving5258]

Good Afternoon, Happy 1st day of 2025. You did a great job tracking for 2024!

[@budgetwithlisa2024]

Happy new year! Thank you! ☺️☺️

[@izzybreezybudgets]

Interest are so bad. I’m almost on same boat! Good video! Happy new year

[@budgetwithlisa2024]

Happy new year! They’re the worst. Hoping we can payoff at least 3 loans 🤞🏼 Thank you Izzy! Hopefully you can get rid of your debt as well. Rooting for you ☺️❤️

[@budgetfor5withstephanie]

Hi Lisa, welcome back! Thanks for sharing. I hope the consolidation loan helps w the 2 credit cards interest. I started doing velocity banking w one of ours to reduce interest.

[@budgetwithlisa2024]

Happy New Year Stephanie!! Thank you so much! Appreciate you ☺️❤️ How is velocity banking working for you?

[@budgetfor5withstephanie]

@budgetwithlisa2024 it's working! Interest is def lower than it was before!

[@Bordeaux93]

Happy New Year! Welcome back. :) My question for you would be - what plans are you putting in place for the next holiday season so that you can 100% avoid putting anything on debt?

[@budgetwithlisa2024]

@@Bordeaux93 Hi!! Thanks for being here 🤗 We created a sinking fund for Vacation in 2025. We’re planning on going out of state next year for Christmas. 100% sure, Vacation (and Christmas) sinking funds will remain categories in our budget going forward. ❤️

[@Bordeaux93]

@@budgetwithlisa2024 sounds like a great plan!

[@BudgetStuffSaveRepeat]

Interest is a monster when you’re trying to get out of debt😣 keep going…. It’s worth it on the grass will be greener on the other side financially!!!

[@budgetwithlisa2024]

Happy New Year Melissa!! You are so right!! Thank you so much for being here and supporting 🤗❤️

[@gannbudgets]

Hi! New subscriber here. ❤

[@budgetwithlisa2024]

Happy New Year! Welcome, Thanks for subbing and being here. I appreciate it ☺️

[@oldschoolbudgets]

Hi new subbie here.

[@agnes.einfach]

Do you know the interest rates of your debt?

[@budgetwithlisa2024]

@agnes.einfach yes we do. I’ll update my budget sheet to include that column next month. ❤

[@tmusa2002]

Warning: You DO still have credit card debt. It’s transferred to a personal loan, but please still call it credit card debt to keep it front of mind, especially if you want to use a card with zero balance. Don’t do it, please!!

[@budgetwithlisa2024]

Thanks for watching and the feedback!

[@cwdoeslife8715]

if interest wasn't so high, I am sure most of the population wouldn't have so much debt

[@budgetwithlisa2024]

Happy New Year Christy!!! 💯 That is the truth! Thanks for being here ❤️❤️