Friday, January 27, 2006

My Credit Card Debt

I thought that today I would reveal the numbers that I am dealing with when I look at my credit card debt. I know these numbers will be shocking to most of you, but I want to keep this as realistic as possible so that you too will make a commitment to change your lifestyle of debt. Let's make this year the year where we will take back our money and stop making those credit card agenices rich!

Here goes:
Macy's $240.00
Filene's $300.00
Capital One $290.00
Ny&Company $795.07
Express $230.00
Victoria's Secret paid 1/27/06
The Limited paid 6/??/05
JCPenney $1722.00
The Children's Place $44.00
Old Navy $409.00
Sears regualr $2264.70
Sears Plus $1297.87
WalMart $562.02
Target $200.00

I also have a car payment and car insurance. I am going to focus on eliminating the credit card debt first. I know, it looks impossible. Trust me, I will do it. I raise 7 kids and do it all. I do my own plumbing, painting, lawnmowing...etc. I am resourceful, perseverant and I am determined to complete this task. No more credit card debt for me. If you want to join me in this crusade to become debt free, feel free to leave a comment and maybe every month we can keep track of how everyone is doing!


Pretty Princess Gwendolyn said...

Not too bad.

Those bastards at old navy gave me a limit increase from $200 to 1500! All of a sudden, I felt my kids needed more clothes!! (equaled a $400.00 O.N. bill!)

I had a similar situation (total of 15 credit cards)and what I ended up doing was paying off my highest balance first with my student loan disbursement (~$850) and worked my way down, paying one in every other paycheck (while still paying the bare assed minimums on the other cards througout the year). By the time I got my tax return last year, I only had a $300 capital one bill left.

Whatever the plan is, write it down. It makes a world of difference!

Good luck!

Suni said...

YES I am all for it! When we get our tax return we will begin the tedious process of paying down everything and getting our credit reports up to par again. We decided to do one a month to get it down to minimum and every month (or every other month) we work on one card...depending on the minimum required to get it back to the bare minimum LOL

So I am with you gals 100%

Anji said...

All those amounts soon add up don't they. Good luck!

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Caitlin said...

I have seem to be on the right track! Which ever you choose: smallest balance first (aka snowball) or highest interest first just doing one will get you where you want to go.

(As an aside, you might want to turn on comment verification so you don't get blog spam like "All the best" up there)

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Ms. Treeful said...

I have already gotten myself out of debt,and I support and commend your goal. I was about $7000 in debt, and that was with 0% interest on all cards (I actually have great credit). One thing that really helped was when I started paying them off one at a time instead of spreading it all out (of course paying more than the minimum on the others too). The one at a time method made me feel like I was really accomplishing something. It's so wonderful and freeing to be debt free. Good luck. You can do it!