What’s your magic number? (I am not talking abracadabra here.)
What I mean is, if you won the lottery today, what is the dollar amount it would take to buy your freedom from debt?
As I sat down to do some bill paying last night, that was the question I posed to myself. The current price of my freedom amounts to $20,863.21 to be precise. *Deep sigh*
I firmly believe the road to debt hell is most often paved with credit cards and good intentions.
How did I get in this deep? Let’s break it down:
Various credit card debt (i.e. store cards, etc.) = $2,613.34
Old student loans (years later and they are still moaning like zombies on the hunt) =$4,640
Consolidation loan from previous debt = $9,975.85
Loan for kid’s graduation and college trip costs = $2,028.78
401k loan =$1,605.24
Since I don’t anticipate winning the lottery any time soon, I will have to find alternative means of obtaining my magic number. Will it be from a second job, thrifty e-bay sales, or the sudden appearance of a genie in a bottle?
I will keep you posted. 🙂