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Thank you!

May 19th, 2010 at 02:08 pm

Thank you to those of you who responded to my first entry with encouraging words. I appreciate it!

I am just about done with my master list of debt. I am not sure how to post my spreadsheet in here...is that even possible? If not I will post them on the side like I see so many others do.

After much deliberation I have decided that I am going to attack my smallest balance Visa card first. I think if I can get rid of it in a short time frame I will feel like I am going somewhere. And that somewhere is where I want to be all the time Smile

So, my first goal is to throw every single spare penny I have to this account. Here is where I stand:

Visa
Credit Limit $3000.00
Current Balance $1611.05
Balance is 54% of my limit
Current minimum monthly payment= 0.00 (ok, sure)
My minimum monthly payment =$50.00
Interest on both purchases and balance transfers= 10.65%

Right now I am waiting for a few bills to clear my bank and then I will have a better idea of what I can "contribute" to this account. I have about $20 sitting at home waiting to be deposited into my account from various sources...I can definately transfer that over once I get to the bank, which I should do soon since cash doesn't last long in my hands.


5 Responses to “Thank you!”

  1. elisabeth Says:

    I remember when I was trying to get out of debt and paying off a small debt helped mentally. I felt successful and it helped me continue. Good Luck!

  2. wowitsawonderfullife Says:

    Welcome! I agree with the plan to pay off your lowest bill first. It's really motivating. I'm doing the same thing myself and it's so gratifying to see the balance go down. Good luck!

  3. HouseHopeful Says:

    Welcome to the site! You definitely will find encouragement and knowlege here.

  4. CB in the City Says:

    That's what I did, too. It's such a boost to get something paid off. It will go faster than you think, once you're motivated.

  5. Ima saver Says:

    That is very smart. set up a debt snowball. Pay the smallest debt off first, then take that payment and add it to the payment on the next smallest debt! You go, girl!!

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