Wednesday, April 18, 2012

Long time, no see...

It's been a very long time since I've posted...mostly because I couldn't decide if blogging was something I really wanted to do with my personal finance journey.  It felt a little exposed, I guess. 
But anyway, even if no one reads my blog, I need to do this for myself.

I noticed that even though I had decided I wanted to pay off debt, I was still using my credit cards, and my balances were going up - and up and up.  So...since January 1st, I've been working Dave Ramsey's Baby Steps.  

I had a few speed-bumps.  We had a wedding out of town in February that I had already committed to, and various other events (like family coming to stay with us for another wedding) that we had also already committed to, but other than that - I've kept a fairly low profile.
I also took a part-time job that has brought in much needed extra money to aggressively pay down debt.  This helps me make extra money while also keeping me from spending extra money!  Bonus!

Since it's been so long since I've posted last, I'll give you my total debt numbers for each month, starting in January, and then how each credit card sits today. (I've been keeping track!)

January 1st Debt Total:  $23,771.04  (higher than my original starting number...sigh)
February 1st Debt Total:  $22,747.60
March 1st Debt Total:  $22,359.14
April 1st Debt Total:  $21,130.54

Now, since I'm working Dave Ramsey's Baby Steps, my credit cards are being paid smallest balance first, and therefore the labels I've used for my credit cards are a bit out of order.  Here are the current balances for each card:

Credit Card #1: $2,664.83
Credit Card #2: $3,915.16
Credit Card #3: $0  (woo hoo!)
Credit Card #4: $13,806.16

I'm not going to say I've been perfect since January, I've used my credit cards occasionally (ok, maybe more than occasionally) but I've been much more deliberate in my planning ahead for purchases, and I've cut back on my discretionary spending.  And frankly, my bottom line has gone down - never up - and that's what matters.

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