Cori Arnold - AI - Money
Cori Arnold - AI - Money

@iamcoriarnold

8 Tweets 1 reads Mar 02, 2023
Tracking my debt changed everything.
This was the first tracker where I calculated my annual interest expense 11 years ago.
- I was shocked
- I was ready to change
- I was paying $16k a year in interest
5 months into Year 1
I hadn't made much progress on total debt, but annual interest dropped to $13K.
- refinanced car
- refinanced home
- consolidated credit cards to lower rates
Year 2
I sold a duplex that I had purchased in 2009 for $68K.
I sold it for $60K.
Even though I sold at an $8K loss:
- My stress went down
- I focused on other debt
I started using 0% credit card deals.
Year 3
I was getting good at living lean.
I reduced my expenses significantly:
- cut down on groceries
- stopped eating out
- lowered my utilities
- reduced clothes shopping
Paid off $30K debt in 1 year.
Year 4
Continued doing what worked:
- lived leaner
- focused on debt-free goal
- prioritized expenses
- used more 0% credit cards
- got a promotion at work
Paid off $50K debt in 1 year.
9 months into Year 4
Made a lot of progress
- only $10K bad debt left
- only $53K left on my mortgage
Year 5
Paid off all of my debt!
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