Thursday, May 04, 2006

Credit Card Debt as of 4/30/06: $34,070

Since I've started blogging in February, my credit card debt has been reduced by $3,544 (the credit card report has been updated as well in my progress to date). Thanks everyone for helping to keep me motivated!! I am seeing a change in my debt situation and I like it :)

Things were made even better yesterday when my husband's mom called. She just got the $1,775 check in the mail for the loan they gave us when we purchased our home. I guess she really didn't need the money and she said she wrote all over the check voiding it and will be sending it back. I guess her bringing up the loan didn't mean they needed it. We were also told it was officially a gift.

If you happened to stop by late last night you would have noticed that my net worth actually increased even further to $-50,240. I went in and updated the numbers. I'm only $240 away from reaching the $-50,000 mark. Woohoo!

Overall, April was a great month and May is off to a great start as well. My tax returns have been a great "booster" to paying down some debt. Going forward, it's all going to be about cutting costs, being frugal and living simple. I have to devote a large chunk of my income to debt if I want to reach my goal. I also may be looking into ways to consolidating my debt to obtain lower interest rates.

Stay tuned :)

3 comments:

Kim said...

You are making good progress! Keep up the hard work and I bet you reach your goal by your target date!

Chitown said...

Glad to hear the news about the loan. I am sure that made your day. Keep up the good work!

Tricia said...

Thanks you two for your words of support! :)