Thursday, August 7, 2008

First Week of August Update

Well, we are now 7 days into August, so I figured I’d do an update on the credit card reduction, just to see how much I’ve accomplished so far.

The credit card I am working on paying down started the month with more than I thought: $6,551.07.  Right now, the card is at $6,107.07, so I have paid down $444 in 7 days, or $63.43 per day.

That’s good, but the first of the month is always where I get my big debt-reduction push, so I expect that number will begin to drop off as the month progresses.  As I mentioned earlier, I’ve got to set aside $200 for the refrigerator, so that will slow the reduction down a little, but even with that, I hope to get the card down to $5500 this month anyway, meaning that I will have put a (personally) astounding $1050 against that single debt this month.

I plan on doing another update on the 14th to see how much progress is made the next 7 days.

1 comment:

  1. You're almost half way and it's only been a week this month. My debt reduction typically happens later in the month if at all. I hope you can keep your momentum going to reach your 5.5k goal.