Thank You! For the CC they pulled EX and dealership pulled EQ
Congratulations very nice
Great Job !! I have to admit that my heart sunk a little when you said you took money out of savings but I understand why you did it and hopefully now with lower credit card payments you can start rebuilding that account. I have always just hated seeing people spend their savings ,... these days it's so very hard to have that nest egg and protect it.
Excited that your son was on board with you and kept to budget for mutal goals. Great Teamwork !!
It was a very difficult decision but after I sat down and ran the numbers it just made sense...I would have been paying a lot more in interest if I took 25 months to pay down.
I have now begun "operation pay-down" phase two:
Pay myself (savings) 500.00 per month
applied the "free" 2k money this month (from no car payment or mortgage due) to highest balance CC (7.1k on 10k CL)
today (bill paying day) paid off 5 CCs using "snowball" method 1.8k
applied the extra $125 & $75 (monthly refi savings & car insurance savings) to same highest CC (will keep doing that until under 20% bal)
and I doubled every CC payment from just paying $10-30 over min
also if any of my creditors want to honor me with a CLI (no matter how small...) I will accept with gratitude..lol
I am hoping that by the end of July I can have every CC under 29% by paying down balances... but I'm not going to beat myself up if I don't
that's as far as I got for now...I promised son that each payday (I have one) we could "splurge" and have dinner out (as long as we didn't go over $30 )