Tuesday, 4 March 2008

Big Wins - Second Credit Card Bites The Dust!

I’m very proud to be able to say I paid off my second credit card in February!

Only more 5 to go from here (yes I know I still have 5!), and only 2 more to meet one of my 2008 goals of paying off 4 of my 7 cards by December 31, 2008.

Credit Card 7 - $0. Paid in Full 29/02/2008

It was both my lowest balance and my highest interest rate, so regardless which snowball method you follow it’s all good. From now on things will head down a modified Dave Ramsay plan.

I now have a $400 payment to snowball onto my next focus debt, namely Credit Card 6 which is now my smallest debt, plus my increased focus on my Personal Loan, which now has the highest interest rate of all my debts, and is also the highest balance.

Onwards and downwards!

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1 comment:

  1. Congrats!!! What a feeling that must be!!! I have one credit card left but no active credit cards which is fine by me. I still have 3 small debts and 1 large debt to payoff.