ashamilee

get out of debt (read all 8 entries…)
Painful last couple of days. 22 months ago

*Car is paid off.
*I just put $730 on my husbands Bank of America Visa, which puts it under $200.
*I am about to pay off my Bank of America Visa, My Orchard Bank MC and my husbands Orchard Bank MC.

This leaves us with $1600 left over from our income tax return. We’re going to put $1,000 in savings, putting our savings at just over $2100, the most we’ve had in savings since we’ve been together.

With these cards taken care of this leaves us with:
Target Visa – $4900
Bank Of America Visa – $200
Mike Chase MC – $648
Ashlie Chase MC – $472
Mike Capital One Visa – $911
Ashlie Capital One Visa – $480
Mike SST Visa – $880
Mike Citi Bank Visa – $925
Ashlie Tribute MC – $689
Mike Household Bank – 436

Which by my count is still just over $10,000 in debt. EEEEK! We’re hoping to have roughly $1,000 each month that we can put towards credit card debt, so with any luck we’ll be out of debt by 2009.

Kind of hoping this refund thing Bush is talking about goes through. Based off of the numbers I saw in the paper, that be about $2400 for my family, which we would turn and put right into debt.

Feb 20, 2008, 09:48AM PST | 9 cheers


Comments:

sort77 there is only now

yep

I’m not sure if it will really be any sort of “economic stimulus” more like stimulating the banking industry, At least in my case. I plan on doing the same thing if we actually get money back. STRAIGHT to the debt.

Well here is hoping for some “free” money. It will be a nice boost to put me that much further ahead on the debt game plan. :)

Good luck with everything. WE’re all cheering for you.

I love this community

Feb 20, 2008, 10:05AM PST | Respond to this

sharonchase is a tree-hugging money-managing self-improver.

Economic Stimulus

It’s already been approved, so the checks should go out in May. However, this is not just a bonus check, it’s an advance on next years tax return, so plan accordingly! We’re using ours to knock back some of our debt as well.

Feb 21, 2008, 01:38PM PST | Respond to this

(This comment was deleted.)

Feb 21, 2008, 01:38PM PST

amacuba is catching up on 43 Things after 2 years away!

You may want to look at consolidating all your separate loans to one lower-interest loan. Which also means just one payment!

And get rid of most of your credit cards. Did you know that merely having so many cards can negatively affect your credit rating? Especially if the limit is high…it doesn’t matter if your limit is $5000 but you only owe $1500 for example…it’s the POSSIBILITY of further debt that gets you.

Feb 27, 2008, 09:47AM PST | Thread | Respond to this

ashamilee

That completely opposite of what I’ve heard and read every where else.

Yes, we have too many credit cards with too high debt, but having one or two high limit cards with low balances is a GOOD thing, it shows you’re trust worthy

Feb 28, 2008, 03:21PM PST | Thread | Respond to this

amacuba is catching up on 43 Things after 2 years away!

Perhaps we’re from different countries. In Canada is works against you. When I had my profile done by Equifax last year, that’s what it said.

Feb 29, 2008, 05:57AM PST | Respond to this


ashamilee has gotten 9 cheers on this entry.

 

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