Saturday, June 2, 2007
Credit Card Debt Update
So, I calculated our debt on the 1st of June and we've officially paid off $786 of our cc debt in May. That represents 6% of our debt. I'm pleased with our accomplishment for the month. There are still lots of areas for improvement but it's a good start. And now, with the transfer of the final balance to the 0% cc, there is only one cc to worry about paying on every month. And since it's not accumulating any interest each month, everything paid on it will go directly to principle. We can just focus on that one card.
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3 comments:
Hi! I read a post by NCN that referenced your 'Fed Up' post...I decided to come over here and check it out, and guess what?! I'm already on your blogroll! Thanks!
Congrats on already getting several hundred dollars worth of cc debt paid off! In no time, you'll be able to say you've paid several thousand dollars off! It isn't easy, but once you get going on paying off debt, it's easier to continue.
Also, I read in one of your posts that you were having some trouble with adding a RSS feed. I would suggest using www.feedburner.com. It's super easy and they walk you through it. Just a thought!
Keep up the good work and hopefully someday soon we can both say we have ZERO cc debt!
Congrats on paying off $786!!
I read that if you make two payments a month you will save even more because they credit card companies by law have to post your payment when they get it, which lowers your balance which in turn lowers your the amount you pay in interest.
So if your minimum payment is 70 pay 35 two times a month.
Peace
Chad
www.debtingthomas.com
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