A small milestone...

Avatar for fire_bug
iVillage Member
Registered: 03-25-2003
A small milestone...
7
Fri, 05-08-2009 - 9:01pm
We got our Citibank statement a few days ago and our minimum payment is below $100. Woo hoo! 6-ish months ago it was over $200. Between repeatedly asking for rate reductions and putting as much extra on it as possible , we've managed to get the minimum payment quite a bit lower, so more of our payment it paying off principal! It's small, but it's encouraging!

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babies




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iVillage Member
Registered: 11-17-2007
Fri, 05-08-2009 - 9:32pm

No it is a big milestone.


I admire people that really work to get the payments down. Please never think that what you have done and will do in a short time is not a big thing. Be proud of yourself for taking the time and trouble and getting the job done.


Hugs


Mary Ann.

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Fri, 05-08-2009 - 10:54pm
That's wonderful! That might be the one thing I miss out on by NOT having CC debt -- my payments are all fixed and don't go down, LOL! Congrats on a job well done!

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Sarah
Avatar for fire_bug
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Registered: 03-25-2003
Sat, 05-09-2009 - 11:46am
As far as I'm concerned, the goal is to get the debt paid down ASAP, but having a lower minimum payment is great because if things get tight, we can shave a little bit off the budget and still make the minimum payments. It's nice to have a little more breathing room.

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babies




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iVillage Member
Registered: 11-14-2008
Sat, 05-09-2009 - 3:16pm

Oh that is nice! Increased freedom with your money is a great feeling. You can pay more for principal, reign in the payments if things are tight, or save. The possibilities are endless!



iVillage Member
Registered: 05-06-2009
Sat, 05-09-2009 - 10:42pm
That's great! I bet that was a nice mother's day gift :)
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iVillage Member
Registered: 04-10-2003
Sun, 05-10-2009 - 10:26am
Congratulations. You are building security for your family. If something happens, you have an extra $100 that you didn't have that you *could* divert if you had to and still make minimums. I consider that a big milestone!

Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 07-02-2008
Mon, 05-11-2009 - 10:27am

firebug,


I feel exactly as you do. We just put our awesome tax return - $8,200 - onto our c/c lowering our minimum by over $200. YIPPIE.


I still keep making a huge payment each month to get it down ASAP and pay it off but knowing that if money is major tight one month I know that I can pay the minimum and keep money in my budget. Makes a great feeling.