Oh ye, Credit Card
July 17, 2009 2 Comments
Tonight I started thinking about my big huge credit card. The one card with the big debt. I want it paid off, but right now my payments are so full of interest and finance charges that I barely make any headway it seems. I did have to use it on the cruise, but I’ve already paid back most of that and will pay back the rest when I convert my euros into dollars (I need to do that already!).
Anyway… in my ideal world I’d like that credit card debt to be gone by the time I finish my current position – which is in 2 years. That’s a pretty short period of time to save so much money, but I guess if one is serious about debt reduction you find ways to make this happen, right?
So after using the handy, dandy calculator at CNN.com, I’d have to pay $750/month to pay it off in 2 years.
And well… quite frankly, I just don’t see that happening. The payments that I can afford right now ($500) will make it 3 years before it will be paid off (seems like such a long time) and after I fully fund my E-fund and start shifting that money over to my debt I should be able to pay ($600). But still, I’ll be looking at 2.5-3 years before this debt is gone. And man, this just makes me sad. I want this debt gone – like – tomorrow. But I suppose I need to keep strong with the smaller goals knowing that EVENTUALLY it WILL be GONE. I just have to keep working at it. And as time goes by on this process I should be able to find extra money to throw at my debt and little by little reduce it into a beautiful card with no balance at all! =D