Sunday, June 22, 2008

What would you do with $10,000?

I'll tell you what I did with it over the last 6 months. Paid on credit cards. Since Christmas we have paid off 1/4 of our cc debt. While I am very proud of us.............I'm also pretty bummed about it. I mean seriously!! $10,000.00!!! I think of what I could have done with all that money, but couldn't because of our debt. It angers me.

I could have a very nice savings account, a new washer and dryer, and a new pool.

Instead, our savings account is skimpy, the washer and dryer may die any day, and we are tearing out our pool. (pictures of the pool to come soon)

As I have promised in the past, here is the amount of credit card debt that we owe.
In December it was $41,887.47
Since then we have been charged $3,895.44 in interest (ouch!)
Now our total is $31,888.02

If we can keep up the payments, we will be credit card debt free by December 2010!! But, it will be tricky because I have decided to go back to school for a second degree. So, my paychecks are a little smaller, but we are cutting back even more. Hopefully we can still meet that goal.

On top of paying all of that, I have this in savings (it will be gone in a few months)
$1,800 for house repairs (pics to come)
$2,400 for my daughters braces (her dad will pay the other half)
$2,500 for a new fence - and that's only the back end, can't believe the cost of that!!
and $600 for tutoring for my daughter
leaving us with $1,000 for an ER fund.

Not too bad! I refuse to charge anything! If we don't have the cash for it, we don't get it. I'm ashamed it took $41,000 in debt to finally grasp that concept, but better late than never.

No comments: