Today we made a payment of $3082.48 and called U.S. Bank to close my credit card! Between "gazelle intense" work and budgeting, a big tax refund, cashing on some tuition reimbursement, and setting a plan - we have paid off $9954.56 of our nearly $90,000 of debt in 6 months [more than 2/3 of it is student loans]. It blows my mind to think of how much deeper our hole could have been by now had we not started down this path.
When we went to pay off my card, the statement said that if we continued making minimum payments, it would be paid off in 17 years. That is just so wrong.
Our game plan is now to get Eric's credit card paid off by our first anniversary - then we will be free of credit cards. Next we will tackle my car and then his car. Our goal is to have my car paid off by next August, then his car will be ours by December of 2011. All of this would mean that after a year and a half of marriage, the only debt remaining should be my student loans! Huzzah!
This is our "no more credit card" jump for joy! It took Paul and Deb a dozen shots to get us both off the ground in the picture!
Here is our debt thermometer, all colored in!
