Thursday, October 30, 2008

Fifth Week of October Update

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.

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