I am a 31 year old working mom. I have two children ages 6 & 8. I am newly remarried (two years and counting) and enjoy spending time with the hubs! Even though life is busy I try to take a little time to show what is going on in my world. This blog is mainly for daily happenings, finances and such. I have created a whole new blog at Butcher, Baker and Candlestick Maker to chronicle my creative sides. You will find recipes, cooking adventures, crafts and a whole lot of digital scrapbook layouts.


Monday, December 10, 2007

Credit Card Tally

So to the right I have posted our Credit Cards and the percentages to pay off. I have listed them in importance of payoff....for instance any extra money right now is going toward the CitiBank card with the 32% interest rate. It is a little misleading, because the amount owed varies from as little as $40 to upwards of $2000+ on some cards. Bear with me as I explore how to best display this. The Visa and Sams are both nominal amounts and I might get those knocked out with any extra money before applying it to the CitiBank, just so that I have less monthly payments. I plan to move money off the CitiBank to the Capital One from 32% to o3.99%.

Total debt:$7,814.16

I don't count car/house in this debt. I am hoping to knock out most of this debt by 2009. I know it is ambitious but here is my thinking:

Tax Returns = $1500 (very conservative)
3rd paycheck me 2x in 2008 = $1600
5th paycheck Steve 4x in 2008 = $1200
Monthly $200 x 12 months = $2400

Total: $6,700

Now this does not include any overtime or extra jobs that Steve gets, plus any number of creative way we come up with to save money to go towards our debt.


Suzanne said...

Way to go, Sharon! What a good plan...I'm so excited to see the debt go down. How did you make that bar graph on the side? That is so awesome.