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Archive for July, 2011

First Post

July 28th, 2011 at 09:33 pm

Hello, World! I'm not new to couponing, being frugal or blogging but I do want to crack down on getting out of debt which is why I started this blog. I have a substantial amount of debt: mostly student loans but also credit card debt. I feel like I'm doing okay on getting out of debt but I do tend to overspend sometimes. I know exactly how much debt I owe but I think that having a place to talk about it will keep me accountable to myself.

I always make my minimum payments (and more if I can) on time. I have decent credit but I really want to pay off my credit cards to get my student loans under control.

Capital One: 855.02
Chase 1: 1364.95
Discover: 2467.67
Chase 2: 3237.98
US Bank: 4455.60
Bank of America: 3021.02
Citicard: 9671.84

Total: 25074.08

Minimum combined monthly payments: 785.00

My goal is going to be to pay $1000 a month.

I'm kicking off this whole thing by making $5000 worth of payments to my accounts. I squirreled away some money when I got my last tax return and bonus. I have enough of a savings now to be able to put some money into my debt repayment. I also should mention, I used one of these credit cards solely for a work trip, I'm paying it off now but was reimbursed from my company so it doesn't really count as debt reduction.