I hope to have this completed by December 2013. Of course, then I’ll simply change my goal to either “buy a new car” or “pay off school loans”. : ) 1 week ago
Entries from everyone
Received my new credit card which was recommended by a friend. 27 months of 0% on balance transfer. My debt is only small (£2k) so I plan to start direct debits to clear it. I don’t have a problem in paying it, but I’d like to see if I can do so without any interruption to my lifestyle.. That will be a winner for balance transfer if I can! 1 month ago
The “I deserve it” is a lie we tell ourselves. How much more could we have without the credit card? More money due to no interest (so we could by ourselves a few things), a bigger savings account due to no payments, peace of mind from not having to remember that payment or worrying about the late fee… If we could just learn to do without for a short time while we pay it off… Just a few things that come to mind. 2 months ago
Arrgh, they get me every time. Car needs work. BF gets speeding ticket (grrr). Pets get sick. And then I end up using the card. Now, if I DIDN’T have a balance on there, I could simply have the extra money for these expenses, but all the money I would set aside goes to my card payment, leaving my no cash for the unexpected expenses, which then go on the card. It’s such a catch 22 and it’s extremely difficult to get out of. I think I’m making progress but it feels like such slow going and that’s frustrating/discouraging. 2 months ago
I had enough money in my savings account to pay off my card and still hit my savings goal for my holidays next year, so I decided to just pay it off.
After paying it I noticed that I tarted accruing interest on the balance a couple of statements ago. I was fairly sure it shouldn’t have happened until December, but am willing to concede that I probably just remembered the date incorrectly.
My lack of vigilance cost me an additional £20 or so.
Anyway, the balance is completely gone now. Other than my mortgage I am 100% completely debt free for the first time in over 5 years. It feels GOOD! 2 months ago
I love how optimistic I was in my previous updates. I still have some credit card debt, although it’s significantly lower than even my overdraft was when I added this goal.
It’s the only debt I have left besides my mortgage, which I’m not really counting.
I plan to pay it off before the end of the year. I could pay it off in full with money I have in my savings account right now, but I’d rather have that money for a holiday and keep the balance on the card at 0% interest.
I just need to make sure I pay it off before it starts accruing interest at the end of the year. :) 2 months ago
I’m about to pay a big chunk ($1k) and then moving forward, I plan to about double my current payments. With both of those, it should take about 8 months to knock it out. Then I can start on the other ones. One card and one is a consolidation loan on which the balance can NOT go up and the interest rate is not nearly as high, so that’s good. Maybe soon I’ll have this friggin’ stuff under control! 2 months ago
I can make the payments and all, but paying down the balance has been problematic. In honesty, I probably haven’t prioritized this as much as I should.
However…the fiancé and I just sat down and discussed this together. He is much better about this, but is going to be in similar straits for a bit due to the home buying process. That, and looking at how this outstanding debt is affecting my credit score, has renewed my resolve to get this done.
I am caught up on other bills and even ahead in some respects, so I should have a pretty big chunk available to put towards the balance this month. However, there are also going to be a lot of expenses soon related to moving (ASSUMING IT ALL GOES WELL!). I am not sure how much of that chunk I should hold back.
I would love to just put all of it toward the credit card, but then there is a possibility that I’d have to USE the card again to pay for the expenses. Math-wise it would probably be best (I’d be saving $ on interest), but it feels psychologically problematic to me. I don’t want to use the card at all if I can help it, at least until it is paid off. Hmmm. 3 months ago