I’ve been blogging about my debt and life in general since February 19, 2008. Now I’m going to give an update, the good, the bad and the ugly, you are going to see it all.
If you are a regular reader of my blog you’ve probably noticed that I haven’t updated my Credit Card debt for over a month. There’s an a reason for it, as I’m sure some of you have guessed.
Last month I came up short. Yep, I even bounced a few checks (the bank honored them). 
I ended up using two credit card checks. $1,500 for my property taxes and $1,500 to bring my checking account back into balance. I’m totally embarrassed to admit this, as I’m sure you can imagine. The total of $3,000 is locked in at 3.9% until the balance is paid off.
Today my total credit card debt stands at $41,501. That’s a $901 increase from when I started tracking it back in February. I’m not happy at all with myself, I know I can do better. Other than using the two convenience checks I haven’t charged a single thing.
Now for the good news. I paid off my state taxes as of February the balance was $9,276. I also paid off my husband’s truck. Back in Feb the balance was $4,459.
All together I’ve paid down $12,834 since February.
{ 7 comments… read them below or add one }
debtdieter 05.22.08 at 4:54 pm
over $12K since February is an extraordinary effort, I wouldn’t worry too much about using your credit cards.
It’s a process of learning how to manage your money forever, you’re still so much further ahead than if you’d done nothing so celebrate your efforts & keep on moving (and blogging) towards $0.
twiggers 05.23.08 at 2:49 am
Well at least you’ve come clean about it. We all have setbacks. Learn from your mistakes and move forward
LouAnne 05.23.08 at 1:57 pm
Good for you for owning up! And EXCELLENT job on paying down the debt!!! Even with the 3000.00, you’re still 9,834.00 down! Nearly 10,000.00 since February?! Are you kiddin’ me?!?! That’s INCREDIBLE!
You TOTALLY get a **STANDING OVATION** from me!
Chicky 05.23.08 at 3:00 pm
My big concern is I wonder why did you become short on your checking account? I know that your husband got big bonus and you put that money towards the truck right? So I assume that most of that 12,000 you paid down is coming from yoru husband’s check, am I right? If thats the case you need to reevalute your spending behaviour again
Jim ~ mydebtblog.com 05.27.08 at 7:01 am
The interest rate on the truck was higher than 3.9% right? If it wasn’t then I would have yell at you for making the wrong move. I wouldn’t sweat a 3k setback, you’re at least paying attention to this whole money thing now. Like other comments I would go backtrack what might have caused the checks to go bounce. Speaking from personal experience it’s easy to avoid the problem if you pad the checking account by 1k. You’ll get through this don’t stress over it.
messy 05.27.08 at 8:30 am
Thanks everyone!
I guess I should have clarified what happened with the overdrafts. I got over zealous paying my bills earlier than necessary. I actually forgot about my automatic withdrawal for my mortgage payment $1,751.
I’ve learned my lesson, I promise!
Jim - Yes the truck interest rate was 6.9%.
Frugal Babe 06.05.08 at 1:02 pm
If you look at the big picture, you’ve eliminated nearly $10,000 in debt in three months. Keep going like that and you’ll have the credit card debt gone in a year. I know your husband won’t be getting a bonus every three months, but eat lots of rice and beans and put every penny you have towards your debts, and you’ll be surprised how fast it goes away. Good luck!!