Thursday, July 31, 2008

August Goals

As we approach the end of July, I realize now that my hopes of having one of my final two credit cards below $6,000 is not going to happen.    It is a bit of a bummer, but as I started thinking about it, I realized that I didn’t tell anybody of what my goal was.  There was the nebulous “get farther out of debt than I am currently” goal, but that gets accomplished every month, even if only by the minimum payments.

So I’m going to treat August differently.  I’m going to set some goals, and see how close I can get to them.  I’ve got 31 days to start paying it down.  The credit card I’m paying down will have a balance of about $6,400.  I should see it get down to $5,800 from my budget standpoint, but I want to stretch and see if I can get it down to $5,000.  That’s $1,400 in 31 days, or just over $45 a day, including weekends.  So we’ll see how successful I am at that, now that I’ve made it a public notice… :-)

1 comment:

  1. Just make sure you cover what is necessary before you start throwing money like crazy at a credit card. I start thinking about how much I would like to pay off in a month but have to consider the bills first. Paying off a credit card first to neglect a utility bill isn't a good deal. If you can swing $1400 in 31 days though, go for it!