Wednesday, February 10

Debt Update

More good news! The debt snowball is accumulating. A couple weeks ago I reported that I had paid off my Discover card. My next goal was to pay off the Prosper loan by March 15th.

Thanks to aggressive cost containment, I paid off the Prosper loan even faster. I am proud to announce that loan is now paid.

Next up: the American Express bill. At just under $6,000, it's the largest debt I've tackled. With a hefty 17% interest rate, I'm extremely motivated to pay this off. Every dollar I'm not paying in interest is a dollar I can invest towards my future.

I can have this card paid off in 4-5 months if I focus. If the stars align, I might do it faster. It's looking like I'll be receiving a significant tax refund which I could use here.

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