Spanelli8706's Personal Debt Cutters Thread

[morneau_grl27]

Wow, you are doing amazing at paying off your debt! Keep up the great job!

[Spanelli8706]

Paid the next 6 mos car insurance in full, saving me $163. And got ANOTHER freakin medical bill from last summer for $88.21. So those are a big distraction from my debt reduction.

Plus, my DD1 will be two on the 30th, so her party is next weekend and we're expecting roughly 42 family members...so another distraction. Although I am looking forward to this one. :)

So, I just paid a little extra on our minimums.
Citi- $150
Chase- $55

Better luck next month.

[Spanelli8706]

Hopefully back on track now...

Best Buy - $20
Chase- $400 (although we did use it a couple of times last week, so I am not sure of the current balance yet...as things havent all posted) My goal is to have this paid off by the end of August at the latest, however I would like to come as close as possible to paying it off by the end of July. We just got a rebate check in for $600 that I haven't deposited and I am planning to pay $1100 from our next paycheck. I'll re-evaluate the balance then and see where I am.

Our Citi card, with the $9600 balance will begin being charged interest in September...and I am not anticipating paying it off til the end of the year-December... so we have been discussing transferring the balance to a new interest free card. We'd have to pay a 3% transaction fee, but ultimately that would be cheaper than 15.99% interest...right? Anyone have thoughts?

We're looking at switching the Citi to Discover. The pros would be Discover ultimately has better rewards, it would be interest free until July 2011 (although I hope to pay it off well before that), the interest rate of the card would be 11.9% instead of Citi's 15.99%. The cons would be the effect on our credit of switching cards (although I have EXCELLENT credit and my husbands is good too), and the transaction fee. I'm open to any and all advice. Thanks!!

[Spanelli8706]

Guess no one had suggestions for me, lol.

Chase- $2,000.00 (Hubs got a small bonus and I added it to our Chase payment...still am not sure of the balance. Once the payment hits, I'll post the new Chase balance)

Citi- $150.00

[Spanelli8706]

To update:

Chase balance is at $1193.25

So...in 6 months, I went from roughly $22,000 debt to $12,500 debt. Whoo hoo!

[puakinikini]

To update:

Chase balance is at $1193.25

So...in 6 months, I went from roughly $22,000 debt to $12,500 debt. Whoo hoo!

That is amazing - good for you!

[2mnyteens]

Wow! You are doing a great job with getting things paid down! Keep up the good work.

[Spanelli8706]

Thank you both for the encouragement!

[NorweJenNY]

So...in 6 months, I went from roughly $22,000 debt to $12,500 debt. Whoo hoo!

Wow! Impressive - well on your way to debt free! Keep pushing forward!

[ashlea729]

I bow to your amazing debt-paying-off skills! haha Great job!!!