I sent off a payment of $618 to the LASIK credit card as that was the final balance. I noticed that the payment has posted and the card is now at a ZERO balance.
I am very happy that I got this card paid off because the interest rate was about to go into hyperdrive in January. I am now taking the money that I used to pay to that card and applying it as a snowflake payment to the last credit card that I have which has a balance. Now the outstanding debts I have are:
- two small personal loans at 0% interest
- car loan
- one credit card
I am targeting the credit card next because it has the highest interest rate of all my remaining debts as part of my debt snowball strategy. After that credit card is paid off then the next target will be the car loan and then finally the personal loans as the interest rates on them are the lowest ones.
I do have a debt snowball spreadsheet set up and according to the payment schedule I have paid this card off early because the last payment was slotted for the middle of January. I am not having any interest savings by paying it off one month early, BUT I will escape the penalty of having the retroactive interest being applied if I waited until the end of January.
According to my debt snowball spreadsheet the next debt target that I have shows that the credit card will be paid off in August of 2011. Of course I plan to pay it off faster than that by sending little snowflake payments to the card…so just bear with me as I keep finding ways to save money so that I can get out of debt.
It feels good to pay off debt and I can see the light at the end of the debt tunnel MUCH better now. Yaaay me!!!!!
Great job paying off one card right before the holidays! Now on to the next…it seems almost never-ending huh? It seems like you’re making great progress though so keep it up!
Congrats on knocking out your debt. I wish I could get Lasik but my eyes are all weird.
Congrats on paying it off. Things may seem like they’re going slow but I’m sure when you are debt free you will be proud of your discipline!
debts have always been killing me. Congrats on paying it off!;)
Congrats on paying off the lasik card!
Do not use a debt reduction company that charges an outrageous fee to do what you can do yourself. Many debt reduction companies decide on a monthly payment for you, which goes into an escrow account until the amount reaches the total fee you are paying for the reduction services.
also isn’t lasik an eye surgery company?