I sent in my NCN Network update! After the month of March, its crazy car repair charges and the roller coaster of receiving a bonus and having to let it go to my mom, I decided to liquidate some of my emergency fund to cover the cost of the car repair plus an extra $150.00 to round out my withdrawl to an even $1000.00.
I have nudged the Debt-O-Meter to 8% and posted a new balance.
I am proud to report a 4% reduction in my overall credit card debt. I have paid off one of my accounts fully and keep it the card put away. I will not use it unless I am going to visit the store that issued it. (It’s a VISA, but for a department store.)
The remaining balance is divided on two cards. One is carrying a balance with a moderately high interest rate. I have called and for my credit score, it’s the lowest they can make it at this time. The other card carries most of the balance at 0%. Even though there was a high balance transfer fee of 3%, in the long run, the interest saved on that balance out weighs the fee cost by A LOT. That fee could easily have been what I pay in a month in interest on another card for the same balance, so I’m am definitely saving money. When the 0% rate expires, I hope to be close to finished on paying the lower balance card so I can snowball my payments. Or else, divide and conquer, and transfer back some of the high balance to a near empty card and get a good balance transfer interest rate. Hey! I didn’t even think of that till just now as a strategy! Blogging really does help in the personal fiscal challenge!
ps- I wrote this a few days ago and since then, I have had to add my Oracle class to a credit card. In 60 days, the course will have passed and I should get a reimbursement check from my company, so don’t expect any dents in the balance till that happens. Bummer that it has to be this way, but oh well, invest a little now to get a lot more out of it later. 
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{ 2 comments… read them below or add one }
hey map, please visit my site, i’m starting a blogroll,
thxs
Well, I would, but you spelled your website incorrectly and it took me a while to figure out the problem. Please send emails if you want me to click, but honestly, I hate it when ppl just leave comment spam. Good luck with your blogroll. My philosophy is blogroll who you want, but don’t make it a mutual lovefest. Then it loses meaning as a pure link exchange.