Credit Card & Prosper Loan Debt Update = $25,191

Thanks to a payment that I had to make, our credit card debt went down a little bit more and it now sits at $25,191. I really wanted to pay more to get it under $25,000 since that is another little milestone for us…but, it just couldn’t happen last month.

Looking on the bright side, even if we can only manage to pay our minimum payments through December…we will still start 2007 with the balance less than $25,000. I am very excited about that!

Posted by Tricia on December 1, 2006 at 9:15 AM in Debt Updates | 3 Comments »
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Jen responded:
Posted: December 1st, 2006 at 9:53 am
Yay! Bringing the balance under $25,000 would be a nice way to ring in the new year. You’ve done a tremendous job paying off what you have this year. And, just think, looking a few years ahead, if you can pay off $12k of debt in one year, just imagine when that $12k/year debt payment can become $12k/year of savings!

(Of course, in a way, you are saving by paying off debt. )
Ginger DItmore responded:
Posted: December 1st, 2006 at 11:10 pm
I am so glad that I came across your blog I am also going to bookmark you.I to am trying hard to pay off my credit cards. My goal is to spend a day without spending a dollar. I will look forward in reading your blogs. Thank-you
Ginger
Tricia responded:
Posted: December 3rd, 2006 at 11:43 am
Jen – if we could save 12K a year, we would definitely be making up for lost time when it comes to saving for retirement. Also, with each payment there is less that is going towards finance charges. Yay!

Ginger – thank you for bookmarking me. We actually end up having a lot of no spend days. But that is mostly because we don’t really go anywhere where we could spend money during the week. The weekends are the time where we go shopping and spend money. It does help a lot when you don’t do the little spending, so I wish you the best with your goal!