PAID OFF!!!!!
In October 2011 Donna and I consolidated some of our credit cards onto a 0% APR Chase credit card. We knew we had to have the balance paid off within 12 months to avoid any interest. The table below summarizes our payments beginning in January 2012.
| Debt Repayment Schedule | ||||
|---|---|---|---|---|
| Month | Type | Amount | Balance | Percent of Balance Remaining |
| Jan 2012 | Beginning Balance | $10,313.39 | 100% | |
| Jan 2012 | Payment | $3,000 | $7,313.39 | 71% |
| Feb 2012 | Payment | $1,000 | $6,313.39 | 61% |
| Feb 2012 | Payment (1) | $275 | $6,038.39 | 59% |
| Feb 2012 | Payment (2) | $60 | $5978.39 | 58% |
| Feb 2012 | Payment (3) | $1,650 | $4,328.39 | 42% |
| Mar 2012 | Payment | $1,150 | $3,178.39 | 31% |
| Mar 2012 | Payment (4) | $100 | $3,078.39 | 30% |
| Mar 2012 | Payment (5) | $175 | $2,903.39 | 28% |
| Mar 2012 | Payment (6) | $195 | $2,708.39 | 26% |
| Mar 2012 | Payment (7) | $142.28 | $2,566.11 | 25% |
| Mar 2012 | Payment (8) | $296.22 | $2,269.89 | 22% |
| Mar 2012 | Payment (9) | $482.32 | $1,787.57 | 17% |
| Apr 2012 | Payment (10) | $300 | $1,487.57 | 14% |
| Apr 2012 | Payment | $1,487.57 | 0 | 0% |
| Extra Payment Details (1) Donna's part time job (2) Sale of Books on Half.com (3) Sale of Canon 7D camera, check for credit card reward points (4) Rebate for tankless water heater (5) Donna's part time job and Half.com book sales (6) Reallocation of money and sale of camera lens (7) Transfer money from old MMA Account (8) Donna's part time job (9) Sale of camera lens and half.com deposit (10) Sale of RC Model Airplane | ||||
As you can see we're well ahead of schedule for paying off this debt. We will continue to throw every extra $ we can scrape together to pay this debt off a quickly as we possibly can.
16 March 2012 Update: Donna and I have decided to reallocate some of our money so we can add even more to paying down this debt. Between the extra payments we've made and reallocating some funds we'll have this sucker knocked out in May!
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