Sunday, May 25, 2008

My $369 Ah-ha moment

I was looking at my credit card to see what the balance was. While doing this I noticed a column that said Interest paid YTD and Interest paid last year. Last year I paid this credit card company $369!! I have already paid over $100 this year.

Talk about an eye opener. The main reason I have been wanting to get it paid off is so that my payment can go into savings each month instead of paying for things I have already bought and used. But now.... oh my goodness. $369 worth of gifts I could have bought my kids at Christmas last year....$369 worth of groceries that would have fed us for a month and a half.... $369 in a savings account making me interest.... Anything would have been better than me giving this money away which is essentially what I did. Of course this card has had a balance for about 2 years now, so I can probably double that number!!

I knew debt was bad and I knew that I needed to get rid of it, but this has really inspired me to step up my efforts even more!

What was the one thing that got you started with paying off your debt?

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