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Credit Card Debt Update – $10,998


Back in the “good ole days,” if we had extra money in our account it was time to go shopping! Oh how things have changed. Now that money goes towards our debt and reaching that next little milestone in our debt reduction journey.

Today we were able to pay an additional $600 towards our credit card debt bringing the total down to $10,998. By the look of things, that may may be the last big payment for this month. We’ll see, though, how things turn out with getting our fridge fixed. If the repair is covered by the warranty, we will probably have more money to put towards our debt.

Next month will be the big month when we break below $10K thanks to the economic stimulus rebate. I am getting butterflies in my stomach just thinking about it. For a while there, I wasn’t so sure we would be able to meet our debt payoff goal date of May 2009. Being at $10K in May of 2008 puts us in a good position to meet that goal. We would have to pay $833/month to do it (this assumes that we are able to keep our credit card debt at 0%).

A lot can happen in a year, so I’m going to stop there and not get too far ahead of myself. We are going to keep going with the strategy that has been working for us so far…we are going to pay as much as we can when we can and keep attacking our debt.


  • Reply Sherri |


    Just curious, what would you buy in the past on these shopping trips? Just a trip to :::insert chain store::: for random stuff? I’m sure it varied, but I was interested to see if there was any sort of spending pattern.

  • Reply Will |


    You’re right that a lot can happen in a year, but with the discipline that you guys have shown, and the momentum you have gained, I’d say it’s a pretty safe bet that you’ll reach your goal.

  • Reply Lizy |

    Wow! That’s really great! Congrats… I’ll be celebrating with you guys ones you’ve paid off your debt! I think it migth even be sooner than March 2009!!!!

  • Reply Rob Madrid |

    Wow way to go, you’ve been a big inspiration to me, I remember when your debts were alot higher so its been exciting to watch then go down!!!

  • Reply Rachel @ Master Your Card |

    Well done – I can understand how you are so wanting to reach that milestone. I am close to paying the first £10,000 off my £100,000 mortgage but I do not ealistically think that I will make it this month. At least it acts as extra inspiration.

  • Reply twiggers |

    WOW Tricia…good job on paying some extra money! I am totally confident that you will reach your goal! Although…a 4 figure number is HUGE!!!! And then, just think, you can start counting down as the first digit goes from 9 to 0!

  • Reply danielle |

    Yay!!! I am so happy!!! I bet you are feeling so good right now, Trish. When I started reading this blog a little over a year ago, you were having nothing but bad luck.
    Where did the $600 come from? Did you sell something?
    I am trying really hard to take all the advice listed below about savings and debt. I had to put $270 on one credit card (my only debt right now) and have $700 in savings. I get zealous about being debt free, and I am trying hard to resist the temptation. It’s payday for both of us, so I am going to stick to reaching a thousand in savings and paying $90 a week into the card if it kills me!

  • Reply rj |

    That is wonderful and you should be proud of yourself and your family for making it there. It takes a lot to change your lifestyle and thinking. Good luck and keep going. $5K is not that far off now.

  • Reply Jesse |

    When you guys get to 0, I think you should throw a party, just puttin that out there right now, while its still a little ways off (but not too far!) 😉

  • Reply arduous |

    But Tricia, what will we READ when you’re out of debt?!! Heh, heh.

    Anyway, it seems to me that $833 a month is doable though, so I am looking forward to a big old blog party in May of 2009. How much per month have you been managing lately? It seems like you’ve been paying off much more than that.

  • Reply Colleen in MA |

    This is great!! Although I’m already feeling sad if you stop blogging when the debt is paid. Promise you’ll keep blogging, but about responsible spending and saving!

  • Reply Michelle |

    You are really doing awesome on your debt. Can I just say your blog is totally FUN to read since you are doing SO GOOD!

    Keep up the good work! You will make it!

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