In May we were fortunate enough to finally payoff the debt on our major credit cards. It took us about a year and a half to pay off over $13,000. Sooo incredibly grateful that it's over with and we hope to never be in that situation again.
Now, to get to work on tackling our remaining debt. We have two store credit cards with a balance and one medical card with a balance. Luckily, they all have a 0% interest rate.
The 0% interest offers all end in 2013, but in different months. Our plan is to start with the card that the 0% ends the soonest (Card 1) and pay any extra money to that one, while paying minimums to the other two cards.
Here's my first monthly recap of our store credit cards.
At the beginning of June, our credit card totals looked like this:
Card 1 (0%) - $1,100
Card 2 (0%) - $570
Card 3 (0%) - $1,065
Total - $2,735
And then at the end of June, our totals looked like this:
Card 1 (0%) - $1,050
Card 2 (0%) - $545
Card 3 (0%) - $1,040
Total - $2,635
So in June, we paid off a total of $100. Not so great, I know. But, considering the Hubby had lost his job in mid-May and we were just getting by on unemployment, we were happy with what little progress we made on these cards.
Check back soon, as I'll post our goals for the upcoming months!
To see my previous posts about our debt payoff journey, go here.