New Debt Target

I have been working on getting my debts down through various methods of saving and snowflaking and I am pleased to announce that I now have three major, interest bearing debts left.

1. Car loan

2. Citi Card

3. LASIK Card

Now the LASIK card is the credit card that I used when I got LASIK some time ago and the zero percent interest rate ends in January of 2010. If the balance is not paid in full then the interest becomes retroactive from the date of purchase and I do not want to pay that. My focus recently was on getting some other debt under control but I can now focus on getting the LASIK card paid off in December so that I do not have to pay interest on it.

My new debt focus is going to be this card and any extra money I get needs to be sent as a snowflake payment over to it immediately. This means any money I get from areas such as Adsense or Lending Club will be transferred over to the LASIK card so I can get it paid off in full before the end of december.

Then after this I will target the Citi card and once I am done with that I will not have any more credit card debt. I will be able to focus on my car loan and get that paid down as well. I do have two small personal loans but they are non interest bearing and I will continue to pay them as I have been doing in the past so that the extra payments on the credit card should not put too much pressure on me.

Author: Lulu

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3 Comments

  1. I cringe when I read that all the interest on the Lasik card will become retroactive. I truly hope you can get that one paid off quickly.

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  2. This ia a great story for others to read. My wife and I are currently tracking our budget so as to maximize our savings and pay off a few last debts. You are the second person I heard who has used Prosper.com. It seems like it worked well for you. Do you recommend Prosper.com for others?

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