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Post by jenny105 on Oct 24, 2012 10:59:55 GMT -5
Now that my trip to Disney World is complete it's now time to put my extra money toward that pesky CC debt. Through my own fault of shop, shop, shop and overspending over the years (not in Disney! That was paid for in cash) I've racked up about $2500 in CC debt. Shame on me! My goal is to have it paid off by this time next year. I'll keep this thread up to date on payments. Gives me a feeling of accomplishment!
Payment due 11/3 Balance - $2,581.64
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Post by pattya925 on Oct 25, 2012 2:51:20 GMT -5
You can do it! This is a great place to find encouragement
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Post by jenny105 on Oct 26, 2012 12:09:29 GMT -5
Thanks patty! Made a payment today of $116. Factoring in monthly interest that's about $83. It's better than nothing!
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Post by pattya925 on Oct 27, 2012 12:39:44 GMT -5
Small payments add up so fast! Sometimes I can only apply small payments to my student loan debt, but over time, it has really made a dent in the overall interest I will pay.
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Post by tanya on Oct 31, 2012 13:31:50 GMT -5
Great job!
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Post by jenny105 on Nov 23, 2012 9:20:16 GMT -5
Thanks ladies! It's slow going but I made another payment of $116 today. After interest probably about $84. Slow and steady!
Hope everyone had a great Thanksgiving! I can't believe the holidays are upon us.
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Post by pattya925 on Nov 24, 2012 9:37:39 GMT -5
Great job, Jenny! Persistence pays off... those extra chunks of cash, no matter the size, will really make a difference.
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Post by tanya on Nov 28, 2012 10:43:23 GMT -5
Great job! Are you any type of debt reduction plan such as Dave Ramsey? His classes are expensice but I have found sites that use his concepts on Snowballing debt.
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Post by jenny105 on Dec 13, 2012 9:37:34 GMT -5
No but I saw his name mentioned quite a few times on these boards. I'll have to check him out. It's been slow going this month because of the holidays. The good news is I didn't use my credit cards for gifts. Cash only! And I'm done shopping!
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Post by jenny105 on Dec 13, 2012 15:57:36 GMT -5
Ok I checked out Dave Ramsey's website. According to his baby steps I should be focused on having a $1,000 emergency fund first. I am really bad at saving (I'm always tempted to spend it and usually I do!) so I'm going to concentrate on this first while making minimum payments. Luckily I should get this step done quickly due to my tax refund!
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Post by pattya925 on Dec 17, 2012 9:49:49 GMT -5
Jenny - Great plan I feel MUCH better knowing I have that cushion in case of true emergency.
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Post by tanya on Dec 18, 2012 11:26:31 GMT -5
Patty is right. Emergency funds are needed first. We found out the hard way when our heat went out. It was a new unit (was replaced after lightening struck it) but was not under warranty. The parts were but the freon ws not and just that part was close to $600! We were pulling from every angle trying to come up with the money.
Jenny, you can do this. As a fellow TA I hope and pray that the up coming wave booking season is wonderful and awesome for you!
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Post by jenny105 on Dec 27, 2012 13:29:11 GMT -5
An emergency fund is definitely a smart idea. If you don't have one, you're just going to charge it to your credit card and keep repeating the cycle. Case in point - I had a car and medical emergency and now have a $900 balance on my Disney Visa. UGH. My ticker is being reset to reflect that. Look at that number. Gross! So now I'll be using the debt snowball method to pay that off. Positive side is that I got some rewards toward a future Disney trip... Good news is I currently have $123 in my E-Fund. Thanks Tanya! I hope things are good for you too!
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Post by tanya on Dec 31, 2012 13:44:11 GMT -5
Keep us posted!
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Post by jenny105 on Jan 18, 2013 16:39:07 GMT -5
Just a quick post to keep this up to date! My emergency fund is now at $280 since I last posted. I'm making some progress. I made payments toward my credit card balances today. Still a long ways to go but it was nice to knock $100+ off the balance. Is it weird that I'm excited to get my tax refund so I can put some of it in my savings and the rest toward my debt?
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