Saturday, April 25, 2009

Only $67 until...

My total credit card debt gets below $20,000!

I still have three working shifts left in this month, so hopefully I can get the total debt down closer to $18,000 than $20,000.

I will have to say that I am pleased with my progress, although I would like to be doing better. But, I still do have a budget, and as of right now, my May budget is zero balanced. (I went ahead and submitted a payment to Capital One after I zero balanced the funds I currently have, after all the other bills, minimum debt payments, and sinking funds were funded. I have the money deposited into my checking account already, so there is no reason to keep the money there when I am paying interest to Capital One)

Since everything else is funded, everything I make the next three working shifts is going straight towards the Capital One Debt.

Since I am so close, I am considering what debt to attack next. I know the basic principle would be the next smallest debt, to keep the momentum going. But I keep looking at this Providian debt, which is costing me over $200 a month in interest alone and I really feel ill. I don't want to pay over $200 in interest to one freaking credit card!

If I go with the smallest to largest balance, my next debt would be Chase Disney, currently sitting at $2,485. If everything goes according to my projected plans, I could have that debt paid off by the end of July. That is a pretty big goal and to be honest, not one that I am quite sure I can make. But it would be a challenge and part of this process is to keep challenging myself to reach higher.

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