Since I’ve been working so diligently on my sister’s finances, I havent found the time to work on my own and it shows! Not so much with my Spending Plan but more with my debt payoff progress.
The recent balance transfer really got me thinking about my interest rates but now I need to concentrate on the other areas that I can get more bang for my buck, then it occurred to me that it is overwhelming to feel any progress on my Huge card(aka- BOA), so I should put my energies towards the Citibank 0% card.
I know that it doesnt make sense financially to pay down the one with the lower interest rate but it will make me feel good and if I feel good, I’ll be more motivated to not stray from this path. Which is so easy for me to do!
So, beginning with June(I have already made May’s payments) I will start tackling my Citibank card with all my might and just pay the minimum on the BOA card.
I really do believe that I need this boost in order to keep myself motivated!
May 6, 2008 at 9:42 am
I agree sometime we just need that motivation to keep going..Also you dont want that “0″ percent promotion to end before you pay off that CC. Good Luck!
May 7, 2008 at 8:56 pm
I definitely know what you mean. I’m doing the same thing. Paying off my smaller balance will really go a long way toward keeping me motivated. It’ll be this year, and I love seeing the light at the end of the tunnel — or at least one of the tunnels.
Good luck!
May 10, 2008 at 10:40 am
Chicky Finance- absolutely! I dont want the promotion to end before I pay it off (or most of it) because that would definitely undermine my progress.
Veronica- Cheers to “the light at the end of the tunnel.”