Paying off my credit card debt!
Find a Conversation
Paying off my credit card debt!
| Sat, 02-25-2006 - 7:40pm |
I have decided after much thought that I am going to "borrow" against my savings to pay off my credit card debt totally!! It has taken me about a YEAR to save up what I owe in credit card debt! I keep kicking myself and thinking how much money I could have saved and KEPT had I not gotten into credit card debt in the FIRST place! I vow never again. I have had it! I work TOO hard to throw my money away to credit cards! I will still have $10,650 in savings after I withdraw the money to pay off the cards, and I am considering the money to be a "loan" against my savings, not a withdrawal, so that I HAVE to put it back or else! I have some of my cards cut up and the ones that aren't cut up I have them wrapped in layers of nylon tape so it will be too much trouble to get at them!! LOL!! Then I am going to work on paying off my student loan and nursing loan and replacing the money from savings! Wish me luck!!

Wow, you go! I'm sure you will feel so relieved to just have them paid off. And you will stil have a chunk left in savings for emergencies. Good for you!
I'm striving to pay off my cc debt this year also...still plugging away at it.
Great plan and good luck.
Way to go.
Kellie
Hey scorned!
I think thats excellent that you saved up so much money! Your next step is to decide what your fully funded emergency fund will need to be. If its $10k, then stop saving, and moving on to contributing to your retirement & childrens college fund. If its $15k or $20k, then save to that figure and move on to the next step.
Shannon
That is fantastic news! I am so happy for you.
All my best,
Danni