I am absolutely thrilled right now; I just paid off the last of my credit card debt! At the end of 2019, I realized that money was tighter than I would have liked, and even though I did look at my statements every month. I actually sat down and listed out all my credit cards and all their balances, and I realized that despite my solid FICO scores around 720s, I had way more credit card debt than I was comfortable with (about $37k). I resolved pay it all down within four years. I had a bit of slow start, but between a pay bump and watching literally every penny I spent,plus using the snowball method, I felt like I was making steady progress the entire time. I also prioritized savings and setting funds aside for fun expenses, so I didn't feel like I was depriving myself at all. I'm also not going to lie; the main reason I was able to achieve this at all was the pay bump, which gave me the ability to focus on getting my cc debt paid down and still have something of a cushion that I know I'm very fortunate to have.
Now that the credit card debt is out of the way, I've still got a small personal loan to take care of (will be done by the end of the year), my student loans (pretty high balance), and my mortgage. So, I've still quite a ways to go in my financial journey, but this stage of rebuilding is done!
Nicely done, congratulations!!
@blossom_rebuilding wrote:I am absolutely thrilled right now; I just paid off the last of my credit card debt! At the end of 2019, I realized that money was tighter than I would have liked, and even though I did look at my statements every month. I actually sat down and listed out all my credit cards and all their balances, and I realized that despite my solid FICO scores around 720s, I had way more credit card debt than I was comfortable with (about $37k). I resolved pay it all down within four years. I had a bit of slow start, but between a pay bump and watching literally every penny I spent,plus using the snowball method, I felt like I was making steady progress the entire time. I also prioritized savings and setting funds aside for fun expenses, so I didn't feel like I was depriving myself at all. I'm also not going to lie; the main reason I was able to achieve this at all was the pay bump, which gave me the ability to focus on getting my cc debt paid down and still have something of a cushion that I know I'm very fortunate to have.
Now that the credit card debt is out of the way, I've still got a small personal loan to take care of (will be done by the end of the year), my student loans (pretty high balance), and my mortgage. So, I've still quite a ways to go in my financial journey, but this stage of rebuilding is done!
Op,
Let me start by saying congrats, that's a big step in general, hope you don't go back to that stage ever, thanks for sharing every time I see users here sharing info like this one is very motivational to me.
Great progress, congrats!
Excellent work. Being debt free is worth the hard journey
@blossom_rebuilding wrote:I am absolutely thrilled right now; I just paid off the last of my credit card debt! At the end of 2019, I realized that money was tighter than I would have liked, and even though I did look at my statements every month. I actually sat down and listed out all my credit cards and all their balances, and I realized that despite my solid FICO scores around 720s, I had way more credit card debt than I was comfortable with (about $37k). I resolved pay it all down within four years. I had a bit of slow start, but between a pay bump and watching literally every penny I spent,plus using the snowball method, I felt like I was making steady progress the entire time. I also prioritized savings and setting funds aside for fun expenses, so I didn't feel like I was depriving myself at all. I'm also not going to lie; the main reason I was able to achieve this at all was the pay bump, which gave me the ability to focus on getting my cc debt paid down and still have something of a cushion that I know I'm very fortunate to have.
Now that the credit card debt is out of the way, I've still got a small personal loan to take care of (will be done by the end of the year), my student loans (pretty high balance), and my mortgage. So, I've still quite a ways to go in my financial journey, but this stage of rebuilding is done!
@blossom_rebuilding great job, this was a HUGE accomplishment. What a way to rebuild, continued success!
Starting Score: 461
