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Thread: Step 2...or 3...CHECK!
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05-27-2010, 01:06 PM #1Registered User
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Step 2...or 3...CHECK!
Yesterday I paid off my Best Buy Card!
It was only used to purchase my laptop for work a few years ago and I never used it again, but I had been carrying a balance and paying the minimum because...dunno. 
So I was re-reading a post from January when I was discussing how I intended on going about paying off my debt (open ING account, build up said acct, empty acct monthly to pay off CC's) and realized that a lot of people thought this didn't make sense
SIDENOTE: Greebo, I do have $1000 in an EF, I am currently working on an additional savings account for the "not-quite-emergency-but-still-important" things that come up...like the fact that the airbag light came on in my car yesterday and I need to get an inspection sticker. Just clarifying
Basically everyone wondered why I didn't just pay off a little bit at a time. Ie: $20 every other day instead of waiting until the bill is due. While I totally understand that this makes sense because of daily interest on the cards etc, I have tried it and it never worked for me. As previously stated, I am a full time bartender. This means I can clear $1000 one week and $400 the next. Which makes budgeting difficult. Which means that it's hard for me to know until all the bills are paid how much will be able to go towards the cards.
Point being, everyone has to find their own way. This plan is working marvelously for me, although I can totally understand that it won't work for everyone. I have managed to pay off $1000 of CC's in the last 5 months and now am hoping to have the next big one ($4000) paid off in the next 5 months!
Thanks for the support FV!
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05-27-2010, 01:14 PM #2Registered User
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You paid off another card! That's what counts
Good luck on the next step of your plan 
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05-27-2010, 04:05 PM #3Moderator
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Way To Go!
The Free Spirit Saver who walks the path with Greebo.
Onboard with a modified Dave Ramsey Plan
Budget: "Every month! On paper, on purpose!"
Gardening somewhere between Zone 6b and 7a.
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05-27-2010, 04:30 PM #4Moderator
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Congrats! I think that if you have found a system that works for you...go for it! Everyone does things a little differently...but the important part is that you are getting those credit cards paid off!!
Married to George {married 9/23/11}
Step-Mom to Connor {8}, Ethan {7}, Rylin {5}, Adri {3}
Dog Mommy to Ruby & Raven-{7}
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05-27-2010, 04:35 PM #5Registered User
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Congulation on getting one cc paid off.I am hoping in less then 2years i can post that i have one paid off.
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05-27-2010, 04:36 PM #6Registered User
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Great job paying off another card!
ughh I would dislike the variances of income like that, how on earth do you budget it.LDR
, 2 DD (one left the nest, one rarely home) More pets than money. More love than sense.
"If you can't see the light at the end of the tunnel, march down there and light it yourself."
Full-time job
Car loan and personal loan
Challenges for 2012:
2012 Grocery Budget Reduction Challenge- $100 a month. (down from $150) Hm, might be too low.
Electric Usage Challenge (doing well, under $70 most months)
Yah, I suck at this money stuff, I know. That's why I'm here.
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05-27-2010, 05:20 PM #7Registered User
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Congrats!! Keep up the good work.
Robbin
Mom to Katey
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05-28-2010, 09:02 AM #8Registered User
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That's awesome!
2012 Debt Reduction
(cc#1) Kohl's- P.I.F. (closed)!!!!
(cc#2) Chase- P.I.F. (closed) !!!!!
(cc#3) capital one(mine)- $741.37 /$731.34
(cc#4) amazon-$1,458.47 / $863.94
(cc#5) Kohl's - $606.29 / $687.16(CLOSED!)
(cc#6) capital one(His)- $615.93 /$673.97
(cc#7) CHASE (HIS)- $1,985.14 / $1,055.85
(cc#8) Lowes(His)- $3,355.71 / $2,592.42
(cc#9) Tractor Supply(his)- $3,981.05 / $3,729.95
(cc#10) Visa(mine)- $918.12 / $1,021.83(CLOSED!)
(cc#11) Home Depot(his)-$3,796.87 / $3,375.31
(cc#12) Capital One(mine)- $2,991.98 / $2,967.94
(cc#13) Micro center- $743.61 / $755.60
car pyment- $16,245.30 / $17,773.46
house pymnt- $76,973.95 / $81,360.00
$0
$14.00 EF
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05-29-2010, 10:52 PM #9Registered User
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Way to go! It doesn't matter how you get it done, as long as you get it done.
~ Michelle
Wife to DH--
Mom to DS--
and DD--
Avatar picture--Taken at Comanche Lookout Park, San Antonio,Tx. April,2010
Mortgage -- $53,077.24
March Emergency Fund Challenge-- $100 /$200
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"The time to save is now. When a dog gets a bone, he doesn't go out and make a down payment on a bigger bone. He buries the one he's got." --Will Rogers
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05-30-2010, 02:51 AM #10Moderator
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Congrats on fituring out a system that works for you - that takes real ownership and obviously you are successful at that!!
Travel light. The baggage of the past can only hold you back.
“Decluttering isn't just simplifying your life. It's having a vision, setting new priorities and using those notions to get rid of obstacles.”
— Peter Walsh
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06-01-2010, 09:20 AM #11Rude and Vile Master
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I don't care if you sprint, crawl, or use a spoon to tunnel your way out of debt as long as you get there, so GOOD JOB!
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
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06-02-2010, 08:30 AM #12Registered User
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Good Job---Its really a great feeling. Now take that card and cut it up--or freeze it *literally* so it can't be used again
Best Buy shut us off after only 6 months of non use once the balance was paid off. I was TOTALLY ok with that!
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