Dimples' Divine Domain
My journey to financial empowerment.

Finally. CC Debt Zero Day is sooo close I can smell, feel, and taste it!! I'll get straight to the point. I have saved a total of $6734 to date since I started my new job in late July. I plan on using $6K of that to pay off some debt. I sat down today and did some analysis on my current credit card debt situation and looked for the best way to go about paying them off. I looked at each card's balance, limit, APR, minimum monthly payment, and last month's finance charge. I ran different pay off scenarios focusing on different key points. For example, in one scenario I focused on paying off my credit cards by balances starting with the highest balance first while in another I looked at paying off the cards by APR. Here is what my credit card debt situation looks like: CARD BALANCE LIMIT APR MINIMUMS 1 $7165 $8500 19.99% $200 2 $3976 $6500 16.99% $93 3 $865 $1100 9.99% $25 4 $735 $1500 14.99% $20 5 $172 $1200 9.99% $10 6 $95 $1150 24.99% $20 Based on the my an...

I got my semi-annual bonus. It was $3K which makes $7500 this year. After taxes I got $2020. I still have $400 of my Christmas bonus and the $300 that is available since I skipped my loan payment with my bank. That makes a total of $2700 available to do as I please. And after much consideration I decided to go ahead and put ALL towards my credit card debt and not spend it on a trip to Hawaii like I originally planned. JUST KIDDING!!!! I only considered the trip for like a second..........OK maybe like a full minute but ya girl ain't crazy. tee hee . *ahem* Anyways. Here are the cards that will be paid off: CREDIT CARD BALANCE Old Navy $126.70 Avenue $127.19 Providian $173.24 Tire Kingdom $669.90 Capital One $727.23 Target $953.55 I updated my CC Debt Payoff chart with my new balance. Check it o...

I paid off my Office Depot card yesterday. Balance was $152.31 and now it is a big fat $0. I am so happy. :-D Did I ever tell yall that I have 13 credit cards? (silence) Well........I do. As you can see the interest rates are horrendous. For a while there, I thought they were normal. Uh no sweetie......they aint! LOL. Anyways, o ut of the 13, I would like to keep 4 of them and close the rest. The 4 are the oldest of all my cards. That way I can keep my credit history. I have been thinking about when and how I should close the other 9 out. I need to do them one at a time and spaced out. I don't want to close them all at once. That would be a big hit on my credit score. I set it up so that I close one every two months or so, starting next month. I am also closing out in order of credit limit, with the smallest limit being first. Hopefully this system works and my credit score won't take to much of a beating. I have the last card closing out around the time ...