SPLAT!

Ever since getting my first credit card back when I was 18, I was immediately in debt. You may not call maxing out a $200 limit credit card a big deal, but it kind of was at the time. At first the card was just for emergencies, to get gas if I did have the cash on me at the moment. But aren’t they all for emergencies at the beginning?

Since I didn’t have any self-control when it came to money I maxed it out on stupid things and it has been maxed out since. I would make the monthly payment and then use it again. It has been a long time coming, but I finally decided to pay off my first credit card. I used most of the money I received my tax return this year to make the payment. I also decided to pay off my Target credit card and scheduled a payment the next time I get paid. I also will be shredding the card and closing the account.

With my credit union card being paid off and my Target card being closed, I have one more card that I am going to keep. It’s my Citi card that I just got to help me pay for VidCon. That is the only purchase I plan on making on it at the moment and I only plan on using that card for trips or anything like that.

Although my student loan payments have stopped, since I am back enrolled in school, I am still trying to make the minimum payments as I was before. I want to setup some sort of payment plan and have a scheduled date that I plan to have it paid off by.

I have a goal of keeping over $500 in my checking account at all times and I have been doing a great job at that. My emergency fund is holding steady at about $400 and I am planning on setting up direct deposit from my work so $100 will come out of my check each pay week.

I really want to get back on track with my budgeting. I want to get back on my Mint.com account and track my expenses daily. I think I now have better self-control when it comes to controlling my money, at least a lot better than I did whenI was younger.

Do you have any credit card or student loan debt? What is your plan to pay it off? What is your strategy to help you save money?

{ 3 comments }