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get out of debt

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Optionally_MineSomewhere In The Distance ..

Paid ~ Rent £500 ~ Arrears £50.00 ~ New Balance £56.50.

Paid ~ Housing Overpayment £50.00 ~ New Balance £426.09.

Paid ~ Council Tax £98.00 ~ New Balance £0.00.

Mysterious Debt ..

http://www.youtube.com/watch?v=bAQXvgyIN1g 1 month ago


eve amedeusAlmost a year's gone by; how's my progress?

Update on what I still owe:
—Credit Union: $2120
—Capital One: $2185
—Chase Rewards HRC: $2791

New total: $7096, up from $6559. ARGH! I keep making reverse progress. I need to stop thinking that these credit cards are for fun times and when I wouldn’t other wise be able to cover the cost. If I can’t afford it, I’ve got to think of another way.

The Credit Union account, at least, has gone down. I’ve been paying around $100 per month into this account, and I lost the card that came with it in my room somewhere shortly after I opened the account, so at least I haven’t been using it like it was cash, like I have been the other two (kinda).

The Capital One account also went down… by less that $100 overall. I’ve been paying it down, too, but I’ve also been using it, obviously. That has got to stop. I’m so, so tired of worrying about whether I’ll be able to afford to pay the bills this month or the next. I need to think of the bigger picture; does anyone have any ideas on how I can remind myself not to spend money I don’t have?

The Chase Rewards HRC account is the one wherein I’ve backslid the most. It did have a balance of $1309, and now it’s ballooned to $2791. I’m sure it made sense at the time, but now I can’t even remember what I bought that cost almost $1500! I know it was probably a bunch of smaller purchases, but it’s depressing to see how much those add up in a year. The company did, however, lower my APR from 29.99% to 12.99%, which cuts it down by more than half.

Here’s the breakdown. I’m still dealing with (1) APR, (2) current balance, and (3) limit.

Credit Union
  • APR: 9.25%
  • CB: $2120
  • Limit: $3000
Capital One
  • APR: 13.90%
  • CB: $2185
  • Limit: $2500
Chase Rewards HRC
  • APR: 12.99%
  • CB: $2791
  • Limit: $3800

So I guess what I’ve been doing is paying about $100 per card per month, even though what I said I would do was pay just above the minimum amount on two cards and work on paying off the third completely. I can either (1) recommit to doing what I said I’d do last year, or (2) continue doing what I’m doing now except not charge any more credit so that my balance will actually go down overall. At this point, any forward progress is some progress.

I’m in the same place I was last year regarding my student loans: I still have a lot of debt, but I’m still in the “income-based repayment plan” and so my payments are still $0 per month. I really want to get this credit card thing under control so that I can tackle my loans before I turn fifty. (I’m almost 30… so, sadly, I’m only half joking about the “before I’m fifty” thing.) 1 month ago


RubyTooGoal.... get rid of truck debt.

Why am I paying 11% interest on this and only earning .5% interest on my CDs? I love my CDs, love the thought of having savings, but this is just stupid. The truck is currently at $3048. I have $2400 worth of CDs that is free. When the truck is paid down to $2400 I’m going to pay it off from the cds then send the truck payments to my savings account. Besides which, I want to be debt free enough to feel like I can walk away from my job if I want. My car loan is down to $16,100, at 1% interest, at least my payments are doing something. The horse trailer is down to $14K. I still flirt with the idea of trading it in for something with LQ. 1 month ago


jstefaniFirst step

I am going to use my $500 credit builder card to help pay off my warrant. I missed a court date and got a warrant for my arrest. I do not have any credit card debt (thankfully) But I need to find a way to take care of this before it gets worse. 1 month ago


JeannetteTwo down, two to go!

Paid off another load this month. Two down, two to go. The plan at the moment is to have them all completely paid off in 2016! 1 month ago


MotherNature1962What we did next....

Now we have changed gas supplier and lowered the monthly amount for our electricity supplier which was far too high. I have cancelled a few subscriptions. In stead of buying new sport shoes for one of my sons I have won a pair of great ones on eBay. Now I really have to watch the pennies, the discipline to write down everything is not quite there yet…:( 2 months ago


Optionally_MineAll In Good Time ..

Paid ~ Rent £500.00 ~ Arrears £50.00 ~ New Balance £106.50.

Paid ~ Housing Overpayment £50.00 ~ New Balance £476.09.

Paid ~ Council Tax £98.00 ~ New Balance £98.00 * 1.

Daughter’s Catalogue £33.00 paid ~ New Balance ~ Zero.

I also paid a friend back for a gift she had picked up for me just before Christmas and gave my son £50.00 which will be an ongoing monthly thing for some time to come.

Mysterious Debt ~ Still mysterious .. I guess I need to stay mindful of this to ward off unexpected surprises I am sure one day will come. 2 months ago


Uncia2/18/14

We’ve started by trying to cut our spending, keeping track of every penny, and communicating about what we buy. It’s progress. We have about $20,000 of credit card debt and about the same of school debt, so there’s a long way to go… 2 months ago


purplechameleonDebt Reduction

Checked out the option of debt consolidation today. At least found somewhere to start. I don’t have any collateral like a house or vehicle and even if I did the interest rate the bank would give me might be higher than my loan interest. 2 months ago


KEC74well, it didn't actually last long

I am back in debt. Part of it is an attitude adjustment, part of it is recognizing behavior patterns. I’m not a spendy person, but I am also not always mindful of the connection between day to day decisions and their impact on my long-term goals.
I do, however, now have a car which makes my daily life mostly better. I have two cats and that makes my life infinitely less anxious and more comfortable. But these things cost money. I am traveling less on the weekends, but taking bigger trips when I do travel.
Part of me figures I can’t take it with me, everything gets paid each month on time, I’m saving extra for retirement and my personal debt is a fairly small percentage of my overall money pie.
I’m working on my spending now and just making sure I’m not breaking myself trying to shove money at my debt. It has made me feel less anxious and still see progress. 2 months ago


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