A Satisfying Week

Yesterday morning I started my day by paying off two credits and putting a hefty “donation” into the kids’ savings accounts. That’s a satisfying way to start the day!

As you know, I’m on a mission to become debt-free. I’m not necessarily following the Dave Ramsay way of thinking, but rather am just concentrating on paying down debt and not charging stuff anymore. I try to pay cash or debit unless the purchase would gain me significant miles on my Visa. I started this new mode of spending in November or December of 2007 and it has worked well. I am not NEARLY the consumer that I was 2 1/2 years ago.

Denis and I each carry three credit cards of various balances. We came into some money last week thanks to a generous gift, and after some brief debate we have elected to put almost 70% of it towards debt. This will allow us to pay off the three lowest balances and 2/3rds of a fourth, which should be paid off by the summer.

I’ve got a financial spreadsheet that I have been using to calculation debt reduction timelines, and if we continue as we are, we should be completely debt-free (except for the mortgage) by July 2012. THAT is an exciting prospect!!!

I’ve NEVER been debt-free in my adult life. I made the mistake out of college of thinking that credit cards = free money. I also learned the hard way that it’s not (read: almost got my car repo’d, had a horrible credit report for seven years due to 9-10 months in a row of late payments). So to have the end in sight – 2 years! – is something I thought would never happen!

My Signature

If you liked that post, read on...

Oh. My. Word. on March 19th, 2004

Nice Quiet Week on November 5th, 2007

Miss Me? on February 8th, 2008

A Lovely Afternoon, Thank You on March 17th, 2008

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