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a new goal

January 5th, 2008 at 07:12 am

As you can see, I currently carry a balance on my CCs. I am working to pay them off and I do make more than the minimum payment to them. I also continue to use one of them. I use it as a way to puchase something I have the money for but the money may be in ING, or in the next paycheck or so. So in actuality I am only using it for a short time. I pay off the amount as soon as it shows up online so no finance charges are accrued on the ammount. Well, to speed things up with paying the card off I have now decided to pay 10% more to the card than what I charge. Example: If I charge something for $10 I will pay $11 to the card. It is not much in the grand scheme of things but every little bit helps plus it makes me think more seriously about a new purchase because it will cost me 10% more.
You may also be wondering why I still continue to use my cards. Lets face it, most of life today requires having a card and using it. If I cut them up and go cold turkey, will I ever learn to use credit wisely?? I think not.
Anyway, its just one of many small steps to use to get out of debt

3 Responses to “a new goal”

  1. luxliving Says:

    Do either of them currently have a good* balance transfer offer going where you could combine them?

    *Good meaning the one w/the lowest interest rate and NO balance transfer fee, etc.

  2. EnglishTeacher Says:

    The extra 10% idea sounds good. Keep up the good work!

  3. jennlem Says:

    luxliving--the one with the best transfer rate does not have enough of a limit (by choice) to transfer the other card to. that card was actually opened just to transfer a balance from another card and I have never used that card. As soon as I pay it off (prob this year) I will close the account since it is tied to my old banking account that I want to close.

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