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About Me:

terri77

I am 46, single, no kids. I am a health care professional. I feel that I'm generally a very good saver and a not so good budgeter - hence the credit card debt payoff I worked through in 2020.

My personal finance goals for 2024:

1. Contribute maximum to Thrift Savings Plan. This is a recurring goal that I’ve accomplished every year since 2008.

2. Contribute maximum to Roth IRA. This is a recurring goal that I’ve accomplished every year since 2001.

3. Pay off credit cards. Completed January 2021. Now the strategy is to pay off my credit cards monthly with no balance carryover.

4. Build up emergency & long-term savings. I completed my initial goal in April 2021. I have 3-6 months of expenses saved at this time & I continue to save for my next car purchase, which is hopefully many years away. I use high yield savings and CDs.

5. Invest in brokerage account. I started with the proceeds from selling my condo & have added monthly. This account is for a future down payment when I purchase a home again.

6. Give to church monthly. I attend two churches right now so I alternate my monthly offerings.

7. Give to charity monthly. Food banks are my preferred charity to give to. I have automated my charitable donations at work to give with my biweekly paychecks.

8. Apply for promotions as they become available. Right now I’m very happy in my current position, so this isn’t much of a goal currently. I have received several raises, I enjoy the work I do, & the people I work with…I’m very happy to stay where I am.

9. New goal for 2024! Build new home with $100k down. This will be funded from my brokerage account & cash savings. 🏡

Making Progress on CC Debt

June 6th, 2020 at 02:53 pm

From a high of over $22k my credit card debt is down to $16k. With my next payment I will have paid off one of my two cards. Then I will tackle my card with the largely 0% interest from a balance transfer. I can’t recall exactly when the 0% interest rate expires. Sometime next year. I may not do anything but work right now between my 3 jobs, but I will be debt free in 2021!

Posted in Debt diet, Credit Cards, Debt, Personal Finance | 7 Comments »

7 Responses to “Making Progress on CC Debt”

Wink Says:
June 6th, 2020 at 04:35 pm 1591461330
1591461330

That is great progress!!
disneysteve Says:
June 6th, 2020 at 04:35 pm 1591461337
1591461337

That's great. Keep up the good work. And check when your 0% deal expires. Make sure you pay it off before that ends so you don't get hit with a huge rate hike.
crazyliblady Says:
June 6th, 2020 at 07:15 pm 1591470946
1591470946

That is awesome. You should be proud. It is very hard to break away from debt like that.
creditcardfree Says:
June 7th, 2020 at 12:03 am 1591488204
1591488204

Fantastic!! You are on fire!!
Amber Says:
June 7th, 2020 at 10:27 pm 1591568859
1591568859

Congratulations
LivingAlmostLarge Says:
June 8th, 2020 at 04:56 pm 1591635412
1591635412

Congrats! This is the hardest part
rob62521 Says:
June 10th, 2020 at 08:17 pm 1591820247
1591820247

Good job!

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Firefly's Personal Finance Blog

Working out my spending impulses.

Making Progress on CC Debt

7 Responses to “Making Progress on CC Debt”

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