So I’ve been trying to pay off my credit card the past few months… Â Paying what I add to it each month + old debt. Â The end result is that each month I break even, which gets frustrating since I”m used to running a bit of a surplus each month – and actually SAVING money. Â So I took a look at what it costs me to maintain the debt on the card, its about $50. Â My new plan? Â Each month, pay off what I’ve added to the card. Â Then take that extra cash, and throw it at my car which is costing me $300 a month.
This way, car gets paid off earlier, I have cash in my pocket at the end of the month, and with the extra $300 a month I can proceed to pay off my CC debt. Â So its either pay $50 to maintain debt, or pay $300… Â I’ll take the $50 route please. 🙂