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CC Payment

June 3rd, 2008 at 07:12 pm

Made my monthly payment on my LBCC today. I want to work at getting this paid off within the next six months.

May LBCC Balance: $1,079.93
Interest: $19.86
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June LBCC Balance: $1,099.79
June Payment: -110.00
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New balance: $989.79

Minimum payment was only $55, so I decided to double that to help pay it down quicker. I want to add another $50 towards the balance as well this month to make sure whatever finance charges are incurred don't pop me back over $1,000. Smile

In August of 2006, I owed $1,300 on this card. By not paying more than the minimum, and continuously charging on it, I have managed to only completely pay off $300. If I had paid more than the minimum and stopped using it, it would have been paid off a year ago. I get sick thinking of how much interest I paid them and how much money I have thrown away. *sigh*

At least it encourages me to keep paying it and not use it.

2 Responses to “CC Payment”

  1. managinglife Says:
    1212522218

    Aren't you glad that you are finally seeing the light of day! You should be proud of yourself! You are making a major impact on lowering your debt with paying more than the minimum amount.

  2. sagegirl Says:
    1212522346

    That threshold you have set of being under $1000 is a great psychological boost--a small goal to keep in your head. Maybe in the next couple of months, you lower it and say "keep it under $800", then $700, then $500. Before you know it--GONE! That will feel great!

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