This is how my credit card debt is looking at the end of this year. I've updated my sidebar so this entry is for my records really.
At the beginning of the year I had 5652.81 of credit card debt. I'm ending the year with 5132.01. I've only managed to clear 520.80 worth of debt. That was helped by shifting my highest interest card, Capital One, to an interest free card in September.
I could have done a lot better but it also could have been worse. I have to remind myself that I was off sick for the first five months of the year, then I went back for all of seven or eight shifts then it was time for maternity leave. When we were at our worst and borrowing money, I was only managing to make the minimum payments.
So, to summarize, here's how things are looking now:
CC Debt 2014:
CC1: 1273.01
CC2: 4379.80
Total: 5652.81
CC Debt update (12/14)
CC1: 830.09
CC2: 4301.92
Total: 5132.01
Here's to knocking more off debt next year!!
Year End Totals
December 21st, 2014 at 09:08 am
December 21st, 2014 at 04:29 pm 1419179365
December 21st, 2014 at 05:33 pm 1419183188
Finances: I hope it's ok to suggest you look at https://www.mint.co.uk/tools/demo/build_07.html as a way to track every pound without fee/cost, for your current banking and credit accounts. It's important to tote up how much is paid out in fees and interest on all types of account.
Since maternity leave continues in 2015, will DH make good on his promise to take more overtime to help reduce the income gap? Has he managed to payoff his gaming system? Is it your plan to buy SG a doll house for her BD? I so support longer term expense planning. During the less structured time frame between Boxing Day & New Year, would you find it helpful to sit down with a calendar and Sharpie to note spending events, utilities, CCs, transportation, St. Valentine budget, Mar BD event, Mother's day $ set aside for each statutory holiday, medical supplies, to Christmas 2015?
It helps to base sums on whatever you actually spent in 2014 to see financial pressure points in advance. If I haven't set aside enough, 'wants' are relinquished, food budget is slashed, transportation 'envelop' is raided, change bucket is caashed in, items are delayed... whatever it takes! The act of putting it in writing really helps me meet my finanncial goals