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Getting a handle on Debt

September 25th, 2015 at 04:19 am

And just like that I am almost $20,000 in debt again! However, a large majority of it is 0% interest and I will pay it off before the no interest period is over.

Here's how it stands

Card Balance 9/25 Promo Rate Payment Paid off
Roof1 $1,174.23 0% until Jan '16 $750.00 11/1/2015
Roof2 $4,617.67 0% until May '16 $82.00 5/1/2016
Best Buy$748.99 0% until Sep '16 $100.00 4/1/2016
Reno MC $11,000.00 0% until May '17 $100.00 5/1/2017
Visa $624.25 pay in full each month
MC $1,382.55 pay in full each month


Once roof 1 is paid off, I'll send $750 a month to Roof2 until it's paid off. Then, once the roof is paid off, I'll start sending more each month to the RenoMC. If AirBnB takes off the way we want it to, then I won't be sending the whole $850 to the card. But if it doesn't then I can snowball what I have been paying and it will be paid off before any interest starts accruing.

We have about $5,000 worth of renovation left and that amount of cash left to pay for it. We are not anticipating any higher expenses at this stage (it should be done end of next week!) I also made planned paying all of it off before I had my second job, so once I get the first paycheck (10/9) it should be easier to see the light at the end of the tunnel. We still need about $2k to go to furnish the basement, but I have some ideas on how to pay and keep the costs down a bit.

1 Responses to “Getting a handle on Debt”

  1. creditcardfree Says:

    That is a lot, but a roof that works is important! Good luck doing what you can with the cash remaining.

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