Today's Focus

Current Goal: Eliminate Mortgage on Rental Property

January 1, 2019: $59,592
March 20, 2020: $52,982
2/14/20 paid $750 towards principal
3/20/20 paid $1000 towards principal
4/17/20 paid $1000 towards principal
5/5/20 paid $2000 towards principal

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Monday, March 15

Assessing my Credit Card Debt

At the end of 2009 my credit card balances were the highest they have ever been, exceeding $40,000. I would like to end 2010 under $20,000.

Total Credit Card Debt as of 3/15/2010: $31,932

By the end of the month I'd like to reduce this to $31,000, and by the end of April I'm hoping to get it down to $29,000. If I can stay on track, I will have reduced my credit card debt by half in 2010.

I should note that approximately $21,000 of my credit card debt is at a 4% rate. A couple years ago I used a balance transfer check at this "rate for life" and invested the funds in rental properties. Another $7,000 is at 0% until the end of June. The remainder includes balances on cards I pay off month-to-month.


  1. Keep up the good work! My husband and I had a lot of debt from our failed business. In the beginning it was overwhelming, but now we have a plan and see a goal. Prayers and hugs on this journey.

  2. Thanks for the encouragement, dealwithit. I know what Dave Ramsey means when he refers to the "Debt Snowball" of paying down your debts - the more you pay, the easier it gets.

  3. I think you´re doing a great job too.
    In a near future you´ll have reduced your debt a lot and have a good profit from your rental properties.
    Your motivation is inspiring. I wish I had the courage to buy a countryhome without any job guarantees.
    Keep it up!