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February Debt Update

February 1st, 2012 at 01:23 pm

Mort 1 - $103,572
Mort 2 - $69,790
CC 1 - $7,335
CC2 - $2,322
CC3 - $1,526
CC4 - $1,410
Van Loan - $5,984

Difference as compared to a month ago: $1,322!

Some changes to note: we finally began making some progress in paying family members on Mort 2. $210 per month. Not an incredible whole lot, but one drip at a time.

Also, I transferred the balance of CC4 to a brand new credit card. 0.0% introductory APR for 12 months, and no balance transfer fees. I don't really like that I'm playing the balance transfer game. Obviously, at some point I'm going to have to buck up and pay it off. But, I do like the idea of concentrating efforts on the behemouth CC 1, which has an APR of 8.9%.

Back to the real highlight of this post - we have $1,322 less in debt that we did a month ago. That's about 10% of our total credit card debt. Gone!

Still lots and lots of progress to be made, but things are getting better - a lot better than they were fifteen months ago.

Posted in Personal Finance, Credit Card Debt | 2 Comments »

2 Responses to “February Debt Update”

  1. creditcardfree Says:
    February 1st, 2012 at 01:36 pm 1328103401
    1328103401

    I absolutely think that moving money around for zero interest or less interest is worth it while you have it. In the end less interest is the best thing if you debt. Less debt, even better!! Great job this month.

  2. scrappytappy Says:
    February 1st, 2012 at 03:55 pm 1328111727
    1328111727

    The balance transfer game will give you the flexibility of focusing on one card at a time which is great. It's better than being charged crazy high interest at the same time! Good job. I know how great it feels to get things paid off!

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