I got the reimbursement for my conference from last month. So I’m rolling in some serious mad cash. Okay, that’s a lie.
But here are my “totals” from February:
Amount paid on credit card: $2,110 (holy cow that is a lot)
Extra income made: $922 ($20 from tutoring, the rest from teaching)
Percentage of my total salary to debt: 61% ($2,110/$3,460)
I’m plugging away at this debt. I should be getting it under $10k by April 1st.
Also, remember how I said that I wouldn’t be teaching over the summer? Well, I got an email from the chair of the department and he asked if he moved the time of one of the classes to the evening if I would do it. I said that I would. It would be twice a week from 6-9pm for 8 weeks. Grand total of ~$2,000 – which means that I wouldn’t have to reduce my credit card payments over the summer. Which subsequently means that I could have this debt paid down in 9 months – which is OCTOBER!!!
That means that I’ll have paid down $16,000 worth of credit card debt in only TWO YEARS. That is just amazing. We’ll see what comes to pass. He may not be able to move the schedule or he may get someone else to teach the class. Either way, I can’t believe that I’ll be credit card debt free in 2010. It feels like a dream.
I’m putting between $1,000-2,000 every month on paying this down (keep in mind my regular “take home” salary from my primary job is only $2,500/month). That is just amazing. When I look at the numbers it blows ME away how well this whole debt repayment thing is going. And all because of 1) a budget 2) a second job that goes straight to debt and 3) my amazing readers who keep encouraging me!.