No. of Recommendations: 8
Hey everyone! Things are moving and shaking on my end, and I am happy to come back and share my progress/news with you!

First, the obligatory last update [Feb 10th, 2011]:

http://boards.fool.com/first-update-of-the-new-year-29094804...

ING E-Fund   $ 2317.00

Debt Balance APR Min
---------------------------------------
Discover $ 3283.99 10.24% $140.00
BofA-CC $ 3342.21 9.99% $ 58.00
CU-CC $14308.21 6.24% $355.00
CU-Auto $11952.59 3.25% $449.00
Student Loan $ 1356.29 2.75% $195.45
RoomsToGo $ 950.00 0% $ 50.00
Citi $ 6490.00 0% $ 85.00
---------------------------------------
Totals $41683.29 ?.?? $1332.45


And today:

ING E-Fund   $ 1895.00

Debt Balance APR Min
---------------------------------------
CU-Auto $10714.96 3.25% $449.00
Student Loan $ 777.78 2.75% $195.45
Chase $ 9879.99 0.00% $ 99.00
Discover $ 9145.76 0.00% $203.00
Citi $ 6204.00 0.00% $ 85.00
RoomsToGo $ 800.00 0.00% $ 50.00
BofA-AmEx $ 0.00 9.99% $ 0.00
BofA-Visa $ 0.00 9.99% $ 0.00
CU-Visa $ 0.00 6.24% $ 0.00
---------------------------------------
Totals $37522.49 $1081.45


Just some small progress here as I took a 4% hit on the chase + discover balance transfers to get those to 0% for 12 months [through May 31 2012] - better than paying 9.99% + 10.24% on these for the next year.

Other great news, I got a big promotion at my job and received a 30% raise. This should significantly improve cash flow to the tune of about $1000.00 per month after taxes and retirement contributions.

So given the above scenario, I am hoping for some advice on repayment once again. My thought is that I will knock out the Student Loan next week when I get the first increased paycheck, effectively increasing my monthly snowball by $195.45 from here forward. This seems like the best idea, but I would love to hear holes in this theory.

From that point, the plan is to add the additional $1000 per month to the snowball, with any concessions being made for unexpected needs. I know my car will need tires in the next 6 months, so I will most likely stash $75-100 per month towards that so I can pay cash when the time comes.

Other than that, we have been doing well. Mostly home entertainment with an occasional local band/concert where possible.

Still shooting for a CC debt free date [not counting the car loan] in first quarter 2012. Also, counting retirement contributions, in June I should realize a POSITIVE NET WORTH for the first time since I went to college in 1996.

Thanks for reading, and I welcome any and all advice.

Cheers and have a great weekend!
Mike
still pinching myself daily until I get that first bigger paycheck
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