You may remember some time ago that I said we were in heaps of debt (especially credit card debt) and I considered this as well as clutter and weight to all be linked. What I can’t remember is if I told you how we were planning on getting out of debt by the next financial year and just how fucking big the debt is! 

We have been in varying levels of debt since we met and have gone through some financially tough times (I was a full time student for 2 years and two of ours car blew up) and some piss-money-up-the-wall-for-shits-and-giggles times (we went on a no expenses barred honeymoon to Hawaii, to Vietnam last year and bought a brand new VW Golf. We are also saving to go the UK and Rome for a month at Christmas)

At the beginning of 2008 I got a full time job I was all gung-ho about paying off the $29K we had in credit card debt. Yes, you read that right – $29,000! In June this year I realised we were following a familiar pattern…pay heaps off the credit cards, not have enough money to live on and then having to put basic things on credit card. We were getting no-where. So we made a spread sheet and worked out how to pay it all off by the end of the next financial year 2010…

All our debt was initially spread out over 4 different zero or low interest credit cards but now we are down to two. I close them down as soon as we have paid them off or open another one when the low/zero interest period has finished.

We have gone from our starting point of $27K to $18K since June and I cannot wait for next June so I can say we have NO credit card debt! We considered taking out a $25K loan to pay them all off but we have saved so much interest by doing the credit card shuffle between zero/low interest accounts. It also really forced us to address the problem and pay them off!

So…what’s your story? Any advice you wish to pass on to people in credit card debt? And before you write “credit cards are evil!” trust me…I know that! LOL!

 

In other news my food is going great, my pedometer has arrived and I am generally on fire! I am currently reading “The Beck Diet Solution” – fantastic. Cannot recommend highly enough – more when I’ve finished it.

 

PS – This is a good read…

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