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Killing the Debt, Slowly But Surely
By DaveM | July 20, 2006
You may recall an earlier post about my debt reduction kickoff on May 20th. At that time, we were sitting right at $16K in credit card debt, and had already eliminated $500 for March.
Well, I just added up the balances on our two credit card statements and was very pleased to see the total is now at $13,400. That’s a reduction of $2,600 in only 3 months.
Not too shabby! 
However, it’s still a few dollars shy of the $1,000 per month we had budgeted for debt reduction.
So, what happened?
The house happened… After the home construction finished up in March/April, we still had a number of miscellaneous projects that needed to be done, and we also had to plan a graduation party for my daughter that took place on July 1st.
Between paint, hardwood flooring, lumber, paneling, grass seed, all the party supplies & food, and countless other little purchases, we kinda ate unexpectedly into that $1,000 per month we had set aside.
If only I had a crystal ball!
Thankfully, the money bombs have subsided a bit and we should be able to hit the credit cards again pretty heavily for the remainder of the year.
Oh, I almost forgot… We also had to replace the $3K car my daughter totaled in early March. The “new” used car set us back $2,500 plus incidentals, but we paid cash for that.
All in all, I’d say we’re doing pretty darn great and it’s only going to get better!
September 18th, 2007 at 10:38 pm
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