Vanquishing My Debt

I'm 29 and trying to get a handle on my finances so that, one day, I can buy a home of my own. I've been reading personal finance blogs recently and decided to start one chronicling my own struggles and success (hopefully). I am lucky, considering the amounts of debt and tales of tragedy I've read about... but I am making some positive changes and moving in the right direction.

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Location: Los Angeles, CA

Friday, June 23, 2006

1 credit card down, 3 to go!

Last night I paid off my credit card with the smallest total. Yippee! Like I mentioned in a previous post, I'm applying the snowball effect to my credit cards. So now I'm concentrating on the next smallest balance card.

I'm going to forgo using neat little graphs and charts (mostly because I don't yet know how to creat them) to show where my debt comes from. Like I've said before, it's nothing awful, unlike some other blogs that I've read. I guess dropping out of college pays off sometimes - no student loans. :)

So here goes, my financial soul laid bare (as of August 1).

Credit Card #1 - Paid off last night! Huzzah!
Credit Card #2 - $507
Credit Card #3 - $2,060
Credit Card #4 - $3,156

Credit Card #4 is actually the card we used to start up R's small business. It is actually his obligation to pay this off, and he will probably take over the payments by the time I conquer the other 2 cards. If he doesn't, I'm prepared to tackle it myself.

I have not added my car to this list, because frankly, it's too discouraging. I am going to attack this list, then figure out the car situation. After tackling my debt, we'll begin tackling his in earnest... which is mostly delinquent student loans.

In light of some of the other blogs I've read talking about immense debt from college and medical emergencies and unemployment, I feel somewhat silly about posting my numbers. I feel like my frustration might be dismissed by some of you because it isn't *enough.* But I think frustration and worry counts no matter what the number behind it is. I am already feeling like a load is off my shoulders just from paying off one card last night!

Time to go shopping!

Just kidding! :)

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