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Home > Archive: February, 2009

Archive for February, 2009

Another nibble!

February 24th, 2009 at 12:12 pm

Well as predicted the check for $4500 was deposited and posted and I immediately took $4410 of that (had to put $90 to good use elsewhere) and hammererd it on Card 2! So now it's official...as of March 4th, 2009 (next payday!) we will be down to one account with one big, hefty balance (but it's only one...yay!)

Debt Tracker (02/24/09)
Card 1: $40475.55 (8.99)
Card 2: $1087.90 (7.99)
Total: $41563.45

It's going to be so sweet to see only Card 1 up there!

Yet another nibble!

February 19th, 2009 at 01:19 pm

Well payday was yesterday and this is the pay period that includes the mortgage (ugh!) so I was only able to nibble off a small chunk of Card 2. The nice thing is I found out my wife's getting a $4500 bonus hopefully sometime before March 1st. I'm not sure when yet but it will hopefully be sooner rather than later.

Anyways here is where we stand. I can almost taste the end of Card 2 and then it will be one giant monster to go!

Debt Tracker (02/19/09)
Card 1: $40475.55 (8.99)
Card 2: $5498.00 (7.99)
Total: $45973.55

A little nibble

February 9th, 2009 at 04:25 am

Thanks to some small ebay sales I've been able to nibble Card 2 under $7000. The bills have been fast and furious but I've been lining them up and knocking them down! Here's the quick update:

Debt Tracker (02/09/09)
Card 1: $40475.55 (8.99)
Card 2: $6899.50 (7.99)
Total: $47375.05

I figure anytime you can nibble at a credit card balance it's a good time to nibble because the interest is a product of your average daily balance (at least that's what I've been led to believe) so it's better to pay it when you have it than wait and pay at one time. Of course some of these guys have limits on how many payments you can make online so it can be a catch 22. No problems for me at this point though. Smile

Knocking down more debt

February 5th, 2009 at 05:19 am

Well another two weeks gone by and more payroll thrown on top of the debt mountain! I ended up having to pay some sizable expenses like our propane gas bill ($1400 for about 6 months) but I was still able to wriggle out nearly $3000 to the debt load. I love the fact that Card 2 which 9 months ago was nearly $32000 is now around 7k. We really are making some headway and soon there will be just one to pay off! I'm so excited to see the progress but I really get antsy when a day goes by and I can't put more money on this thing. I guess I still need to learn patience is a virtue. Smile

Anyhow here we go:

Debt Tracker (02/05/09)
Card 1: $40475.55 (8.99)
Card 2: $7170.00 (7.99)
Total: $47645.55

For a frame of reference we started at $110,000 worth of credit card debt on May 1st, 2008. Nine months later and we've knocked out nearly $63,000 worth of the ugly thing! One small step for my family...one giant leap for getting out of debt!