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Archive for October, 2008

A little nibble

October 29th, 2008 at 12:03 pm

Well another little nibble off of Card 2 to put the total overall back under $66k. Payday was 2 day so we paid up expenses and are set for the next couple of weeks. Everything is budgeted so it all has a place to go. It's nice to have control over the $ instead of the $ controlling us!

Debt Tracker (10/29/08)
Card 1: $42319.94 (8.99)
Card 2: $23484.21 (8.99)
Total: $65804.15

$325.47 in interest!! Might as well burn it!

October 27th, 2008 at 10:00 pm

Well as happy as I've been about tearing down the cc debt monster the "big dog" bit back today with a $325.47 finance charge (ouch ouch ouch!) Here's the updated numbers (we're getting there though...darn it!)

Debt Tracker (10/27/08)
Card 1: $42319.94 (8.99)
Card 2: $23682.26 (8.99)
Total: $66002.20

Just over $66k...ugh! Anyone with ideas on saving for college apps as well let me know your thoughts. We've got to get her going on this and it seems they're always nickel and diming us...doh!

Plus it's $9.50 everytime we send official SAT scores. What a racket! OK I'm done ranting and raving like a loon. Smile

A nice chop on the ole CC debt!

October 22nd, 2008 at 07:27 pm

Well I did it! I deposited the $3334 over lunch and the good thing about banking at the same place for business and personal banking is the money comes in immediately (like depositing cash) so I can make the payment to Card 2 and watch it apply in the next 24 hours. I received another extra check for $207.50 that I was also able to deposit so after paying some volleyball dues for the son and giving the wife some extra cash I'm able to make a payment of $5514.70 on Card 2. Take that!

Now I can update that sucker!!!

Debt Tracker (10/21/08)
Card 1: $41994.47 (8.99)
Card 2: $23682.26 (8.99)
Total: $65676.73


Goodbye to the $70's...hello to the $60's! Man is it going to be sweet to see Card 2 drop like a rock. Smile We just have to stay focused over the holidays and with my family that can be a somewhat daunting task. Gotta keep the eyes on the prize and you guys certainly help with that so thank you!


Knocking down debt

October 21st, 2008 at 12:43 pm

Well wouldn't you know I pay off a card and they end up being one of those nasty two cycle billing bums. Good thing is the interest that they charged me was $12.25 (compare that to 5 months ago and the same card's interest charge was $239.55! What's really funny is I look at the account in MS Money and I can see all 5 months since I stopped using the card in one screen and I can only see about 3 days prior to that (basically had the same amount of transactions in 5 months vs 3 days!) I paid the $12.25 immediately upon getting billed for it and now the card is back to ZERO so I don't have to add it back to my debt tracker.

Now it's on to Card 2 which will get the brunt of our attack. Tomorrow I get the $3334 check (which I've been highly advertising the last 30 days or so) to add to what we have left over from this pay and I'll be able to make a payment of (yep I have it budgeted to the penny!) $5447.20 (ta da!) I am going to wait until I officially make the payment (will be on Thursday) to update it so for now here's the ugly truth:

Debt Tracker (10/21/08)
Card 1: $41994.47 (8.99)
Card 2: $29196.96 (8.99)

Paid off since 05/01/08: $38170.29

Interest charged on Card 2

October 14th, 2008 at 12:36 pm

I thought I'd check in and update where we're at with the debt tracker since payday is Wednesday (yee haw!) and the following week we'll be getting another check for $3334 so I plan on making a strong payment on Card 2 on the 23rd. They hit me with a wonderful finance charge (sarcasm alert) of $225.82! Ugh...the sooner I'm done with these cards the better. Here goes:

Debt tracker 10/14/08
Card 1: $42694.47 (8.99%)
Card 2: $29189.01 (8.99%)

At least there are only two remaining...but they're really a couple of thorns in the side. The sooner they go the better.

Another card bites the dust!

October 1st, 2008 at 05:47 pm

Today was the final day for Card 3 to have a balance. We paid off the $1970.14 I owed on that card and now we only have two debts left! Here's the update:

Debt tracker 10/01/08
Card 1: $42694.47 (8.99%)
Card 2: $28963.19 (8.99%)

So that's it! In the last five months we've been able to pay off just under $39,000 worth of credit card debt. This one card went from $26412.89 to ZERO in that time. The mountain has gotten smaller!

The two that are left are a couple of monsters but they will soon be gone and then we can actually start keeping our money instead of giving it to the credit card companies (novel concept isn't it...!)

Thanks to everyone here for keeping us on the straight and narrow!