Credit Card Debt Update – It’s a Biggie!

Our credit card debt as of today is $2,499!!

Our savings is $3,800.

We are past that very sweet point where we could technically be credit card debt-free since we have enough in our savings to cover our credit card debt. Yay!

As tempting as it is, we are not going to use our savings to pay off the last of our debt. At least not right now. We do have a tax refund coming that will pay off some more. If all goes well with our business we will be able to take some more income from that next month (it contributed to this latest chunk of debt-payoff).

We are in the home stretch so we are going to push hard for this. We may end up using some of our savings to meet our goal date of May 2009. We’ll see what happens in the next 41 days.

Posted by Tricia on March 20, 2009 at 10:15 PM in Debt Updates | 24 Comments »
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  1. C.C. responded:
    Posted: March 21st, 2009 at 4:13 am

    That is just awesome!

  2. Sandy responded:
    Posted: March 21st, 2009 at 6:06 am

    Tricia,

    Congratulations!!!!!!!
    You have been an inspiration in the way you set a goal and steadfastly pursued it through many ups and downs. I’m sure all of us have been pulling for you and your family. We all will be sorry to see you end the blog in the next few month, but we wish you the very best in the future. Good job well done!!

  3. Chicky responded:
    Posted: March 21st, 2009 at 6:47 am

    Fantastic! You and your family should be very proud of yourselves! Thanks again for letting us observe as you’ve gotten this far!

  4. danielle responded:
    Posted: March 21st, 2009 at 7:12 am

    CONGRATULATIONS on being debt free, Trish!!!! That’s a huge jump. I will blog about you later, right now, I’m getting ready for work.

  5. Elizabeth responded:
    Posted: March 21st, 2009 at 7:15 am

    I am thrilled for you. Your blog continues to inspire me.

  6. Maria responded:
    Posted: March 21st, 2009 at 7:22 am

    Tricia: fantastic and well deserved! You are an inspiration to so many!

  7. Debt-Free Dan responded:
    Posted: March 21st, 2009 at 10:00 am

    I’m proud of you and your husband! Keep up the good work!

  8. NCN responded:
    Posted: March 21st, 2009 at 10:25 am

    Congratulations! We are all so proud of you! You rock!

  9. Kate Kashman responded:
    Posted: March 21st, 2009 at 4:47 pm

    That’s great, Tricia. And good job on not tapping into your savings – I struggle with that every couple of weeks :)

    You’ll be done so soon.

  10. emmi responded:
    Posted: March 21st, 2009 at 6:32 pm

    Yay!

    Sorry, not much more to say.

  11. Tricia responded:
    Posted: March 21st, 2009 at 10:17 pm

    Thanks everyone!

    Danielle – well, we’re not credit card debt-free…yet. It’s tempting to wipe it out in one final swoop with our savings. I really like that savings, though. It’s my blankie :)

  12. Mr Plasectomy responded:
    Posted: March 22nd, 2009 at 7:18 am

    Congratulations! That has to be one sweet feeling!

  13. SingleGuyMoney responded:
    Posted: March 22nd, 2009 at 8:37 am

    Congratulations! Keep pushing the debt down and the savings up.

  14. Alicia responded:
    Posted: March 22nd, 2009 at 9:52 am

    Congrats! I’m so happy for you! Looking forward to hearing about how it feels to debt free!

  15. Pat responded:
    Posted: March 22nd, 2009 at 11:17 am

    Tricia,
    I am so excited to see this new number! You must have a lot of self-control because I’d use the savings to pay it off and bank the tax refund! Can’t wait for you to get to -0-! You don’t know how much you have inspired me to pay off our debt now too!

  16. Penny Wise and Pound Foolish responded:
    Posted: March 22nd, 2009 at 7:41 pm

    Your progress is so inspiring! Many congratulations to you and thank you for sharing this amazing journey with us!

  17. danielle responded:
    Posted: March 22nd, 2009 at 9:50 pm

    Ok, I blogged about you (whew, it was a long weekend)

    Was this $1500 a tax return?

  18. Tricia responded:
    Posted: March 22nd, 2009 at 10:39 pm

    Hi Danielle – no, the $1,500 wasn’t a tax return. About $1,000 was from our business. The rest was what we were able to chip in from our normal income. I wish our tax return was that big. It’s only going to be around $500 this year but it’s definitely going towards our debt as of right now :)

  19. Christina responded:
    Posted: March 23rd, 2009 at 10:09 am

    Very inspiring. Congratulations!

  20. Jen responded:
    Posted: March 23rd, 2009 at 10:13 am

    WOW!! Congratulations! I cannot imagine the excitement you must be feeling now! And it must be comforting to know that, if you wanted, you could just pay it all off now! It must be SUCH a different feeling now versus way back when you had $37K on your cards. You must feel lighter :)

  21. Colleen in MA responded:
    Posted: March 23rd, 2009 at 1:34 pm

    go go go! this is awesome!

  22. Jes responded:
    Posted: March 23rd, 2009 at 8:04 pm

    Congrats! You’re an inspiration!

  23. Evan Powell responded:
    Posted: March 24th, 2009 at 7:36 am

    That is amazing and inspiring!

  24. Katie responded:
    Posted: March 26th, 2009 at 3:55 pm

    Your blog is so inspiring!

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