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.
First Post
July 28th, 2011 at 09:33 pm
July 28th, 2011 at 09:53 pm 1311890003
July 28th, 2011 at 10:00 pm 1311890416
July 28th, 2011 at 11:43 pm 1311896639
July 28th, 2011 at 11:53 pm 1311897192
July 29th, 2011 at 12:02 am 1311897736
July 29th, 2011 at 02:27 am 1311906445
July 30th, 2011 at 04:01 pm 1312041693
That's great that you have $5k to pay towards your debt. What is your plan of attack? Are you focusing on those cc's with the highest interest rate? Or trying to pay off the maximum number at once?
August 1st, 2011 at 04:54 pm 1312217655