Paying Off My First Credit Card Balance
Sunday January 29, 2006
Looking at my new budget, on February third I should be able to pay off my first credit card balance. Even though the interest rates are higher on some of the others, I'm going to pay one or two small balances first just for the mental relief of actually getting rid of a debt. I need the encouragement and sense of momentum that will give me.
Over the next four months I should be able to pay off three of my credit card balances and make several extra payments on one of the others. That will leave three big credit card balances plus the ones that are in collection status. ~ Mary
Comments
YOU ARE ON THE RIGHT TRACK FOR 2006.
I HAVE FILED MY INCOME TAX AND WITH
THAT REFUND I’M ABLE TO PAY OFF BOTH
OF MY CREDIT CARD BALANCE’S FREEING UP
CASH I CAN SAVE FOR EMERGENCIES.
Hi Janice,
Using your income tax refund is a great way to pay down some credit card debts. With interest rates rising as they have recently, credit card interest rates are going up and up. The best thing most people can do with their “extra” money is to pay down credit cards, so good for you! Smart move.