Thursday, August 28, 2008

Fourth Week of August Update

I really wanted to get my response to “The News” done before I did this, but there are several things still in process with it, and the story isn’t over.  Suffice it to say that I really appreciate my readers’ comments, and for helping me to see what I was doing – acting in an emotional state.

I don’t necessarily see getting a house as “wrong”, but it is important for me to see getting a house for what it is – a major roadblock to our getting debt free, and a very strong want – not a need.

I’ll continue to keep you updated as things happen.

Now on to the debt reduction stuff.  This will conclude the August updates, because I am shifting my strategy a little, even though I will still be VERY focused on debt reduction, especially over the next 4 months.

So, here are the final numbers:

We started the month of August with $6,551.07 worth of debt on our lowest balance credit card.  By the end of the first week, that number had dropped $444 to $6,107.07.  The second week, we were able to increase the amount to $445, bringing our total to $5,662.07.  By the end of the third week, we dropped an astounding $642.94 to bring our total to $5,019.13.  For the fourth week, we dropped an additional $315 to $4,704.13.

So, from start to finish, we were able to pay $1,846.94 off in 28 days, which brings our total to $65.96 per day.

When we started the month, my goal was to get to $5,000, and we beat that number by almost $300.

So, what a successful month!  I like the idea of goal-setting my debt reduction each month, so this is liable to be a regular feature…

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