Monday, June 11, 2012

Week Four-And another one....credit card list

This somewhat ties in with my last post.... Make a list of all of your credit cards. I would love to say that I have only one, but unfortunately I have many.... I made a list of all of my cards, the balance, the date due, and the interest rate. Put them in order. Some prefer to pay off lower balance first so that they can see the results more quickly. I personally prefer to pay the highest interest first. So my highest interest is a store card that I owe about $900 on. The minimum payment for that card is about $25 but I am paying $100 every month instead...sometimes more if I am able. This should be paid off in about 10 months if I am able to pay a little extra on the $100. I will then take that $100 and add it to the payment of my next highest interest card. I hope to have my debt cut in half by March of next year. I will let you know how that goes!

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