Reduce Credit Card Debt

and the weight of the debt is going down!

The idea is that you tackle the smallest debts first and that the psychological boost you get from getting a few “quick wins” will be a good motivator for paying off other things. I think it’s working! I just paid off a small credit card balance and it feels really good!

and it feels really good! It’s still higher than I want it, but it’s not so overwhelming now.

but it’s so slow!

I just read that mortgage lenders want borrowers to owe no more than 30% of their available credit. This is called the “utilization rate.” I have a long way to go…

I just wrote a check to pay off the balance on one of our store credit cards. It wasn’t much at all but it’s still a good feeling to know that we won’t be writing a check to them next month.

We were hit with a $3,500 bill yesterday that had to be paid immediately. There was no other way to handle it than to put it on the card. Thankfully, because we do make regular payments, we had the credit available!

I had just noticed that I accidentally made a double payment on one of the cards and was feeling pretty good about it when, literally minutes later, the dishwasher broke!

We’re using the cards less often and making more frequent payments.

I’ve reduced my credit card debt and now I feel free. I am no longer looking up my account to see how much less money I have.