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so far so good

March 5th, 2007 at 06:59 pm

It's been a while since I've written on here. I've had some ups and downs since then. I've managed to finally stop using my credit cards, even though it's only been about a week and a half. I have $112 in a savings account linked to my checking for small emergencies. It's thanks to Keep the Change, the program that Bank of America does. After a year you get so much of the money that you've saved back. It's pretty cool. All of this probably sounds kind of pathetic to some people, but for me it's a big deal. I sat down with my therapist and came up with a plan to pay down my credit cards. I admit I haven't started that yet because I wanted to build up a small cushion in my checking and/or savings account so that I won't start using my credit cards again. But I've figured out that with just $300 a month extra paid on my cards I could be out of debt in 3 years. That's without getting the interest rates down on some of my cards that are at 29%. I plan to do that soon. Also if I pay more I will get out of debt sooner. I also got a deferment on my student loans until July so that I could get caught up. The only major extra expenses on the horizon are taxes, a vet bill for one of my cats in APril, and a plane ticket home for Memorial Day weekend. I think I'll still be able to start my plan in spite of all that. I'm hopeful that this is all going to work out.

3 Responses to “so far so good”

  1. JanH Says:

    Little baby steps are the way I'm doing things also. You are doing great!

  2. shiela Says:

    Good luck with you plans.

  3. moi aussi Says:

    Oops I just left you a comment in one of your posts and then realized that post was from a year ago. So I am posting it here again. Hope you do not mind. I am on my way to pay my debt too and many of us here will get through with it- we must be determined. Anyhow, this is what I wrote.
    ---
    I have a spread sheet that I made at docs.google.com. I can access it from anywhere, and I update it everyday, so that I know how much I have and where my money is going. Before I even use my money, I already mark down what I absolutely need to pay for during that pay period-rent, metro, bills etc and deduct it from available money so that I always know how much money I can spend if I have to (I shouldn't be spending anything btw). Because I look at my financial situation everyday in a spread sheet that is marked down in red, blue and all kinds of colours, I don't want to use my cc for anything, or use cash for anything that I do not need to. Sometimes you break down and spend money though, but it's okay as long as you pick yourself up again. I have a long way to go, but hopefully I will get there soon.

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