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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Thxs to All & Happy NY!||Date: 1/4/2000 6:22 PM|
|Author: Mei2||Number: 23105 of 309658|
Can we have any gory details, like what you started with and how fast you did it? Things like that can be an inspiration to the
rest of us...
If you must know...I'll give you the gory details.
I had about $13,000 in credit card debt starting August 1997. I paid it off in January 2000, about 29 months later, or just shy of 2.5 years. I never had interest rates above 5.9%. I kept transferring and cutting up the "old" cards as their promotions ran out (making sure never to pay any transfer fees or any such nonsense), and my last $1,500 was actually an interest- loan to me from my honey (thanks, Honey!).
If you do a straight division (without taking interest into account), the numbers aren't THAT impressive--about $448/month. However, I've made two career changes since 8/97, each time going to a lower-paying position (it's a life-style choice), so in light of that, I didn't do too badly.
I'm fascinated one how one's cost of living expands to fill one's income (e.g. suits=dry cleaning; professional look=expensive watch, expensive car; image=fine dining, expensive suits; expensive car=expensive maintenance, etc.). If I had regularly visited the LBYM boards when I was fresh out of law school, I may have paid off the CC debt much more quickly. But most likely, I probably would have been appalled if somebody suggested that I could actually live comfortably on the salary I'm currently making. As it is, I'm saving more and now I'm CC debt free! (Thanks, LYBM boards!)
But hey, the CC debt is gone, and now I get to leave work at 4:30 rather than worry about such lovely things as face-time, brown nosing, & billables. (Ooops, I know I may have offended some professional people out there, my apologies, but I hate billables.)
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