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Archive for December, 2016

Payday and Debt Pay Down Update

December 31st, 2016 at 06:25 am

Last paycheck for the year and even after rent + other bills we were able to make the following payments:

CC#3 - Paid full balance of $749 /New Balance $0 (My company reimbursements helped pay back the business related expenses)

CC#5 -Paid $500/Old Balance: $1888/New Balance: $1388

CC#7 -Paid $350/Old Balance: $19893.64/ New
Balance: $19543.64

That is a total of $1596 this paycheck where $850 of it was not part of my reimbursed business expenses. Just last month CC#5 had a balance of $2800, it's so motivating to see the balance continue to drop and know that we are one step closer to paying off this high interest credit card.

DW also got paid today but her check takes a few business days to clear. Once it does, TBD on the CC#8 payment amount but most likely will be $600-$700.

Slow and steady wins the race...

Newbie here

December 22nd, 2016 at 08:15 am

Hi, newbie here. I've made some financial mistakes that are and will cost DW and I greatly in the form of credit card debt but let's leave the past behind. Looking ahead, DW and I are committed to tackling this debt and said we will never be in this situation again. We've made great strides in reducing our overall monthly expenses to really only what we need recently, so I am happy with this. DW started working again part-time and it will accelerate the debt payments.

We are taking this one paycheck at a time and are trying to remember it's not a sprint but a marathon.

With that said, the following payments went through this week from our most recent paycheck:

CC #5 - $1000
CC #6 - $68 Min Payment
CC #1 - $64 Min Payment
CC #8 - $400 payment
Total - $1532