Mad Scientist
Feels Good!
- Sep 15, 2008
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I'm credit card debt freeeeeeeeee! Any other Dave Ramsey fans in here?
It took about four years of beans and rice, rice and beans but I just paid off the last card on Monday. I had 7 cards totaling just over 14K. Some were still in the initial low percentage rate but 4 of them had ballooned to near 30%! The minimum payments totaled almost $500 dollars a month!
We did the Dave Ramsey Debt Snowball method to pay them off. That involved taking the lowest debt (about 1500 at the time) and shoveling all our available funds left, after paying all the bills, and putting towards that card. When that was paid off we'd move to the next highest card and pay that, and so on.
My salary during that time was about 50K a year before taxes but I worked as much overtime as I could. We also own two houses and pay about 2K a month in mortgages. Fortunately for us, we have a tenant in the house in California plus we didn't go crazy and cash all the equity out of it like a lot of people did.
Gawd what a fuckin' relief that is! Now we move on to paying off both of the cars!
It took about four years of beans and rice, rice and beans but I just paid off the last card on Monday. I had 7 cards totaling just over 14K. Some were still in the initial low percentage rate but 4 of them had ballooned to near 30%! The minimum payments totaled almost $500 dollars a month!
We did the Dave Ramsey Debt Snowball method to pay them off. That involved taking the lowest debt (about 1500 at the time) and shoveling all our available funds left, after paying all the bills, and putting towards that card. When that was paid off we'd move to the next highest card and pay that, and so on.
My salary during that time was about 50K a year before taxes but I worked as much overtime as I could. We also own two houses and pay about 2K a month in mortgages. Fortunately for us, we have a tenant in the house in California plus we didn't go crazy and cash all the equity out of it like a lot of people did.
Gawd what a fuckin' relief that is! Now we move on to paying off both of the cars!
I spent some of it on booze and hookers but the rest I just wasted! (I couldn't resist that)What did you do to accumulate all that debt?