Well, the extra week in the month really seemed to pay off. We made our goal!
We started the month of October with $5,802.24, with a goal of paying it down to $3,400, and the hope of getting it down to $3,302.24. Today, we are at a balance of $3,249.69, leaving us with less than $1650 per month to pay the entire AmEx off.
That means that we paid $527 off this week, and $2,552.55 for the month. We have paid over $3,200 against all our debt this month!
The American Express was a credit card that started with a balance over $10,000, our largest credit card debt, and we now owe about a third of that balance.
All in all, October was a very successful month, and we haven’t had the opportunity to apply any of my wife’s second income against debt (some problems with the first paycheck). That should help things out a bit, and raise our ability to pay by a few hundred dollars per month.
In my next post, I’ll go over the November goals.