In January, I declared war on our credit cards. With over $11,000 dollars in credit card debt, I mapped out a basic plan to accomplish the goal of being free of credit cards by 2012. And in the spirit of complete honesty, I’m going to share the nitty gritty details with all of you. (*Names of creditors have been changed to protect the
April was a good month. We focused our spending and managed to make some much needed purchases. (Shirts that fit!) We corrected the debacle that was our March restaurant spending. And we kept our debt repayment goal. This may be the longest I’ve ever stuck with anything. (*Ahem* C25K)
Of course, it could have been better… My year end bonus is already pretty much spent but it was on things we really needed. And maybe a few extras here and there… So sadly, I don’t see that new mattress happening anytime soon. But the bottom line is that we still stuck pretty closely to the monthly budget, and I’m okay with that.
Thankfully, we seem to be getting into the groove with our new budget. Our cash only system for personal spending has been a fantastic tool for me to control my eating out and random expenses. We are still working on what should be paid for with cash, though….
And on the debt repayment front, we are *this* close to paying off another card. I might even try to squeeze another $150 bucks from somewhere to pay Badger off in full at the end of the month.
Interestingly, Badger also recently reduced our interest rate by 1%. I guess they are trying to retain our business. Why they would think 1% would keep me from paying off the card, I dunno….
Next post in the War on Debt: Salvage