Where's Margie's Money?

Thoughts on my debt

I just updated my sidebar with my current credit card debt.  The figure now stands at $5,816.21.  After two months of focusing on budgeting and making a commitment to not use these cards anymore, I’ve only paid off $325.61 although I’ve devoted twice that much to paying them off.  It’s frustrating to see that a $60 payment only makes a $30 ding because of interest.  But, if anything, it motivates me and drives me harder to throw more money on it so that I can see that number go down faster. 

The first credit card that I’ve focused on (I’m using Dave Ramsey’s snowball method and have six cards total) is now under $200 and I really really want to pay it off next month.  That would be SUCH a great accomplishment . . . but I don’t know if I can do it. I have to buy a darn bridesmaids dress for $250 (!!!) next month. IF the checks come in from my side gig (I sent invoices last week) I’ll definitely be tossing all the money I receive toward the debt.  Otherwise, I’ll make a big ding by paying off at least half and then finishing up the rest in June.

On an interesting note, one of my credit cards just upped my limit this month. It’s as if they are saying, “hey, what’s going on here – our balance is going down, not up.  Let’s tempt her with more credit!” Those sneaky credit card companies!!



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