minimum
I know that I’ve made a conscious decision to focus on one of my debts at a time.
I know that it’s a good idea to kill a debt I can handle within a relatively short amount of time because it will help boost my confidence. I also know it’s good to kill a debt that has the highest interest rate. It just so happens that my old credit card debt fits the bill for both. So I know I’m doing a good and smart thing by putting my muscle into killing my old credit card debt. I’ve got the balance going down by hundreds every month. That debt will be gone long before this time next year. I know it’s going to feel good. And I know I’ll be glad when it’s done. And I know it’ll be a psychological boost to only owe student loans and my car instead of, among other things, some groceries I bought, ate, and digested way back in 1999.
But I also know that it sucks to actually pay about $265 on my five-figure student loans, only to see my balance go down about $59 dollars. I probably owe no less that what I owed at graduation at this rate, and I finished school years ago.
It’s OK though. I’ll try not to worry too much about it. When I’m finished killing this old credit card debt, the student loans are next. I have two - a big one at less than 3% and another smaller one at 8.5%. The 8.5% loan is next. And when I kill it, it’s going to feel really, REALLY good.
That’s right Sistah Ant. Get rid of that debt. That’s what we’re here for
Comment by Challenging Debt — July 27, 2007 @ 8:09 pm
Yep, it is going to feel really, really good to get that cc out of the way. At least student loan interest is tax deductible
Comment by Constance — July 30, 2007 @ 9:57 am