HI, everyone! It's happening that feeling of accomplishment .. with credit card debt, anyway.. the rest of my stressful life will come together, I just know it! Anyway.. here's the feeling, when I pay off one credit card (by end of July we paid off "Mercury Card", which feels like we had it 'forever!'). I was determined to pay off my clothes card,(as of January 1st this year it was $700) Avenue by the end of August.. it was a smaller balance at $475 in the beginning of August & as of today 8/27... it's .. DRUMROLL PLEASE.. DONE. PAID OFF. FINISHED. Whew!
It's so exciting and motivating to just have these credit cards, that we've had for years. simply paid off & not going to use them again. It's a very accomplished feeling. The last two credit cards we have our both personal credit cards, my balance is about $3200 (but the interest they add monthly is like a new payment) so my goal for September is to pay just a big chunk on it.. or pay $50-$75/week on it. For me, I find that paying a little off every week really adds up to the end of the month quicker, than just making the one monthly payment that is due.
My H's cc balance is $2200, so that'll get paid down as well. Our goal for September is to refinance our home. I've done some investigating and the interest rates are down to 3% and 3.125% (for a 30 year); and as much as I was leaning toward a 20 year, I think it might be better to do the 30 year and just pay extra monthly or even every other month .. We love our home, and honestly if our only debt is the house.. I'm okay with that. It's certainly these credit cards and their ridiculous interest rates that are eating us alive. We still do have two car payments, one is fairly new and we pay it bi-monthly, so more of the principal is being reduced, and then my jeep car payment is almost done.. I'm going to focus on applying more money on that in the next few months as well, to see if I can't pay it off sooner.
I always say this it seems, but every one's personal goals/budget wins, budgets for that matter are PERSONAL to them.. start off small, coloring in a visual paper like I do, motivates me to keep my head on my goal - to be credit card debt free! Whatever works for you.. but start NOW. I would've NEVER imagined myself following a #thebudgetmom method a year ago..but I'm glad I did.. I want to pay off our credit cards and feel the freedom of being intentional of how our money is spent. I enjoy it.. some might find it daunting.. but this is my hobby! Do something to motivate you.. get on a journey that will help you feel satisfied.
Thanks for reading! Another update coming soon..on LIFE :) (all good.. just a few hiccups!) sidebar: Grace is going for a floroscopy tomorrow at Children's.. keep us in your good thoughts! :)
pattie
Comments