Next Friday – May 13th (oh crap, now that I wrote that I’m getting a little superstitious, but I digress…) Next Friday we will make the final payment on our taxes ($2472) and pay off one of our credit cards ($952) – I am so excited! We are finally moving in the right direction. It's such a great feeling!As I shared before, I was slightly torn on paying the credit card with the highest interest first or this smaller one to get us going and I'm really glad I decided to pay this one. I NEED to cross something off of our list, even if it's relatively small, compared to the others. In this regard, I agree with Dave Ramsey's Snowball Theory. The interest that I will pay on the other card really isn't that much and the great feeling we'll get from knowing we're paying stuff OFF is going to be worth it!
Have a good weekend all :o)
Yay! I'm going to live vicariously through you, if you don't mind :) It will be a long while before I have anything I can draw the red line through, so I'm just going to celebrate with you. And I agree, interest rate aside, it sure will be nice to cross one off your list! I'll bet it's going to be a long week for you :)
ReplyDeleteSarah
Oh yay!!! Very excited for you! I like Dave's snowball theory. It makes it feel much more attainable. It stinks paying the interest but in the long run I think more people are able to stick with the plan when they see debt disappearing!
ReplyDeleteDave Ramsey has some great ideas when it comes to debt reduction. That is one bill that you don't have to worry about and can put the money that would have been going to it toward another debt. Great job!
ReplyDeleteWoo Hooooo!
ReplyDeleteI like the new look too!
I see how this goes.....I change my blog...you change your blog. I pay off something....you pay off something.
ReplyDeleteI am just the IT girl. HEEHEEEEEEEE.
Congrats on knocking these out of the park!!!! You are doing fantastic.
congratulations- hope all works out the way you're planning! I'm hoping to make another extra payment on my car loan next Thursday - I would do it now but my townhomes just switched management companies and the last one I had just signed up for autodraft(not knowning they were in the process of switching companies) and the company ended up autodrafting anyways - I had gone ahead and written a check on the 10th(last day w/out penalty) and on the 11th they drafted the payment(when I put on the form to draft on the 1st)so not sure if they're going to be difficult and do it again this month or not; if they don't then I'm paid until June's is due and have that $200 free for the car loan.
ReplyDeleteI DO see I need to write down a budget- was surprised by a $90 something phone/internet charge on Discover that I know is monthly - need to write it down though so it doesn't take my by surprise.
I would definitely pay off at least one card with the lower balance to show some progress that's easily seen..just depends on the number of cards.might pay off another lower one if it's a low lower than the higher interest ones. just think - a card paid off and that much can be going to another one!!!
Susanna
yay! thats exciting! it's just great seeing so many people pay off debts the last few weeks.
ReplyDeleteThat's terrific! That's a sizable amount of $$ to be paid off in one go! I can FEEL your excitement:)
ReplyDeleteCongratulations. It does feel good when you can see progress and can mark something off your list.
ReplyDeleteCongratulations! Very exciting!
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