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%.
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:
5th paycheck Steve 4x in 2008 = $1200
Monthly $200 x 12 months = $2400
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.