Here is the goal for the first half of our year: Pay off our no-interest credit card before it becomes an interest bearing card in July. This is a big goal for us, because the payment we have to make to achieve this goal each month is about 18% of our income. We are pretty psyched about it because Monica’s new job actually pays her for the work she does, so we have a stable income.
Yesterday, while I washed the dog, Monica cancelled our other credit cards-one even offered to transfer our balance we are trying to pay off and give us 0% interested for 12 more months (jerks!), but we resisted the devil, and he fled from us. Our tax return money should pay for our car insurance, and the little extra money I bring in working my 2 jobs will mainly go to payments. We can do it and we are going to do it, with the hope of no major accidents or surprises!
We have a few strategies we are employing. #1. Praying #2. Eating in more and taking our lunches to work everyday #3. Making all of our payments, including the credit card, as early as we can in the month and live off the rest (might not work for everyone, but it does us) #4. Not lowering our standard of what we give to God #5. Keeping a cushion in our account so we do not have to use the credit card again #7. Not being stupid with our money (i.e. buying things we don’t really need—this is a tough one)
We are going to do it and by the end of June we are going to have $0 on our credit card. We are willing to challenge anybody to do the same and go for it with us—you just have to set a goal for some month this year and tell us. It would be way easier to have others to go for this goal with us. Grand prize (unlimited number of winners): You’ll have no more stinkin’ credit card payments and can begin to actually make some money.