Monday, October 6, 2008

One Credit Card Down, One to Go!

I just paid the last of Credit Card 1. It was a store credit card that I applied for to get the 10% off an iPod for my son's birthday 3 years ago. I think I have probably paid $360 in interest and I saved about $20 on the iPod. Smart? I don't think so! Never again!


One more card to go--the largest balance $5900. Even though I won't be able to pay much more this month, just having one debt to focus on is nice. When I began my debt-reduction journey, I had 4 credit cards and a car payment for a total debt of over $13,000. The debt is coming down slowly, but surely.

10 comments:

notesfromthefrugaltrenches.com said...

WoW!

You are doing so well!!!

You should be so proud!

Francois Viljoen said...

Jeepers. That was quick! :)

Well done RTC. 5 down, one to go.

RTC said...

Not so quick--I started paying down in July 2007, so it's been 15 months!

natedavidscott said...

you're doing it! and that's what matters. progress, not perfection as flylady says.
before you know it you'll reach your goal

RTC said...

Thanks, Nate. Hopefully, I'm following in your footsteps, one step at a time!

Budget Mama said...

Fantastic! Great work.

Cynthia said...

Congratulations! Such a great feeling, isn't it!

RTC said...

Thanks, Cynthia. It is a great feeling, but I hope payday comes soon!

no more spending said...

Congratulations from me too..I've just found your blog and I'm not sure how I missed it before?!

Well done on your progress

Laura :)

RTC said...

Thanks, Laura. I've only been blogging since August, but I have been reading PF blogs since January. You have made great progress this year!