Thursday, February 01, 2007

Credit card pay off

The total payments on one credit card with the highest balance for January was $700. Wow!! This more motivation for me to become debt free. This $700 is money that I could put to work for me in retirement, down payment on a home or saving for a fully funded emergency fund. This aggressive payment schedule is definitely an eye opener. Debt has the potential to really cripple a person and rob them of their future.

My new motto: Do whatever needs to be done to become debt free.

6 comments:

jagular said...

You got that right.
I've been paying over 1600 a month beyond my minimum payments on my CC's, and another 880/mo extra on my student loans.
After this mess is all paid off...never again. That's all I can say. Never again.

Single Ma said...

You go girl! Make it happen.

Always.Funky.Fresh said...

Go ahead wit yo' bad self. Do that sh......

Cash Money Brother said...

Yep I arrived at that point a few months ago, and now that I am debt free I have no idea what to do with my money. Kind of funny, I've been making payments so long I am sorta used to it. Sorta like stockholm syndrone, lol.

Good luck

3 Things About Money said...

Debt free is gonna feel so, so good. Go for it.

Bklyn Diva said...

trust me it is A FABULOUS FEELING.. now if I can get rid of my student loans and car loan I will be COMPLETELY DEBT FREE...