Another Credit Card Paid Off!

I'm sorry that I really haven't been keeping up with this blog. We've been slowly saving money and paying back the debt. We had a frugal holiday season, and in January we were able to spend even less, staying under-budget and having just enough to pay off the other credit card.

On January 30th, we paid the credit card bill online in full. For the first time in 5 years, we have absolutely no credit card debt. This is such a great feeling. We only used credit cards a few times in 2008, and then immediately paid back whatever we'd charged. This really helped us to work at lowering the balance.

We were able to pay off such a large chunk of debt because of my husband's holiday bonus and raise, and also because he got 3 paychecks in January (being paid once every 2 weeks). That third check went entirely to the credit card payment.

In 2008, we paid back $24k in debt. I can't believe we have come this far. The remaining debt is college loans. Given that my husband and I haven't been to college in 9 years, this is our longest outstanding debt. If all goes well, we should have the college loan paid off by April.

I'm so happy we're finally making progress, and we'll be able to save for the future soon!

Personally, I never want to use a credit card again. I hope I never HAVE to use a credit card again. I haven't done the math, but I know that we've spent thousands on interest alone.