Thursday, December 4, 2008

Update Thursday: 1st Week of December

Well, this week stands in stark contrast of the previous weeks.  Typically the first of the month is where we make huge gains on our credit card debt.  This week, we made just over $100 against the last credit card.  This was mostly due to the “loan” against this week’s income to pay off the AmEx last month.

We got the monthly bill from AmEx yesterday, and it was for just under $8!  I can’t tell you how long it has been since that card had nothing on it, and this month is the last time that I will pay interest charges on that card!

All in all, I’m not disappointed that we only made $100 worth of progress against our credit card, but after several weeks of $500+, it does feel a little anti-climactic.  Next week will be better, with us getting three paychecks next week, and now that we’ve paid back the extra we used to kill off the AmEx.

I guess I’m coming to realize that the debt snowball will sometimes act as an avalanche, but sometimes there’s enough in the way of it coming down the mountain that it just stops.  Even as powerful as it is, it isn’t more powerful than the mountain.  But we’ll pick up steam once again, and continue our journey…

1 comment:

  1. Don't let it get you down. I'll be lucky to get much of any principle knocked out this month. Something around 2-3% of the minimum payment that will go towards the principle, so I guess something is better than nothing. I think this month is tricky for anyone.