So, it is not my first time paying off credit cards, but the first time I’ve paid off more than one at once.
While is my 312,434,343,343,139th attempt at paying off credit cards, I really think it will stick this time. Seriously. I’m addicted to crossing credit cards off my list. But anyways…
I paid off three credit cards at once, for a total of around $1400 – and I’m so excited!
My debt paydown plan is to look for ways to lower my minimum monthly payments on credit cards by paying them off. For instance, if I have two credit cards that have a similar balance and one has a minimum payment of $20 and the other requires a $35 minimum monthly payment – I pay off the one with the $35 payment.
I figure this is the best way to maximize the amount of money I have available to pay on debt each month. Plus, if anything terrible happens financially, I will already have lowered the amount of money I need to make each month to cover all the bills.
And, if all goes as planned, I should be able to eliminate another card in December! Wahoo!
Original image By Defame (Eleven) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons