Saturday, 1 November 2008

The Ugly Truth – Day 428


  • Personal Loan: -$19,877
  • Credit Card 1: -$5,412
  • Credit Card 2: -$5,485 ($5,000 transferred to Card 8)
  • Credit Card 3: (transferred to Card 4)
  • Credit Card 4: -$16,105
  • Credit Card 5: (paid in full)
  • Credit Card 6: (paid in full)
  • Credit Card 7: (paid in full)
  • Credit Card 8: -$4,875


  • Emergency Fund: +$2,000
  • Car Fund (Maintenance & Registration): +250
  • Short Term Goal Fund: +$1,000 (Current goal is new bedroom furniture)
  • Home Deposit Fund ($60,000 Goal): +$1,000
  • UK Tour Fund ($10,000 Goal): +$750

Total: -$51,754
Debt reduced from last month: +$615
Debt reduced from Sep 2007: +$5,018

Not a huge change this month, but I’m OK with that as I had a lots of bills come in that needed to be paid, I managed to pay them without dipping into my emergency fund, and factoring in the monthly interest I’m paying it’s still a win to have the total go down.

Not all the balance transfers had been processed as of today, I’m still waiting on the balance of Credit Card 1 to go over to Credit Card 2, and then I’ll have my new snowball in place.

My personal loan is now under $20,000 which is great, and now I’ll be throwing $1,000 at it every month from now on (it’s got the highest interest rate of all of my debts), that should see larger debt reductions each month ongoing.

My focus card is now Card 2, so any extra snowball or snowflake money will be going on to that card from now on.

I also managed to add another $250 to my travel fund, as I’m looking to go in May 2009; I really need to get cracking on building up that fund now. Especially considering the exchange rate, Aussie dollars to pounds Sterling is never a pretty exchange, but it’s even worse at the moment.

Roll on payday.

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  1. those balance transfers are great, and they can make such a big saving. Do you have a set time planned for your o/s trip yet?

  2. Any progress is better than no progress!

  3. I think its just easier to have less loans/cards to pay. I wish I just had one big debt to pay off instead of 7 little ones. Good for you!

  4. Louise, I'm looking at going mid May to Mid June for at least 3 weeks at this stage.

  5. UD, I agree, there's something about only having 4 bills to pay each month that is good for my soul.

  6. You should be so proud!! Congrats to you for keeping it up. :) I plan to start a fund for going to Italy in 2010. Waiting for my kids to get a bit older so we can all appreciate the experience. - Laura