Credit Card Breakdown

Posted by Cent With Love | 3:18 PM | | 1 comments »

No, not a mental breakdown. Lord knows, I've already had one of those due to my credit cards! Instead, this is a breakdown of the details of my Financial Goal #6 for 2009.

Currently, I have five credit cards that I would like to PIF by the end of 2009. These are the straggler credit cards that are in my name alone, not together with my husband, and they've been hanging around with approximately the same balances since I got married in 2004. Yes, I know, my debt is his debt, but technically, these are my responsibility due to my own spendy foolishness.

Here's the list in order of Debt Snowball Payoff with date:

  1. Card 3: Current Balance is $311.10
    Current PIF Date: 4/09; Goal PIF Date: 2/09

  2. Card 4: Current Balance is: $318.71
    Current PIF Date: 5/09; Goal PIF Date: 3/09

  3. Card 5: Current Balance is: $665.61
    Current PIF Date: 10/09; Goal PIF Date: 5/09

  4. Card 6: Current Balance is: $811.20
    Current PIF Date: 1/10; Goal PIF Date: 8/09

  5. Card 7: Current Balance is: $1130.52
    Current PIF Date: 6/10; Goal PIF Date: 11/09

On a sidenote, I did PIF my first two credit cards (athough small balances) prior to the end of 2009 thanks to Dave Ramsey. Also, the rule on my PIF date is I have until the last day of the month listed to make the final payment.
Now, this is about $3500 in debt. Doesn't seem so bad, right? Well, there are 2 more that have larger balances on top of my student loans, but this is the focus for now.

Wish me luck!


  1. Money Funk // January 8, 2009 at 10:54 PM  

    I like Ramsey's method. It is working really well for me, too. I am in a similar situation with $3100 CC debt, but my hubby's 2 big CC and student loans are going to be the real test. :)
    but, by that time... we will have a hell of a snowball fund to pay it off!

    Keep up the good tracking.