Goodbye Legacy Visa

[scrappingizlife]

I read about the snowball method, I don't remember if it was here, or the other Disney board I go on. I decided to use 2k of our tax return to start paying off credit cards. I have paid off three, and just closed my Legacy Visa. I am keeping the one card that does not charge me a monthly fee or to pay online. It's got a low credit limit, and I have ignored limit raises on it. I have one more of my own cards to pay off, and then it's on to DHs which have the bigger balances. We should be debt free by July of next year and have enough saved up for a down payment on a house by July of 2012.

 

[YorkieMommyKandis]

Way to go!!! It is so fun kicking the nasty credit card companies to the curb, isn't it??? I just started my husband and I on a plan to get rid of debt, mostly following Dave Ramsey. We are looking at being debt free in three years (except for the house), possibly sooner if I get a better job. It is amazing what is possible with just a little effort.

 

[smkiya]

Good for you! I also discovered Dave Ramsey and the debt snowball here on the Disboards. I started in January and if I get "Gazelle" I should be debt free except for the house by summer 2011. So many wonderful things have happened for me since joining the dis a year ago!

 

[darthspud]

I should be debt free (besides my car) by the end of November.. I have 3 large balances that will be paid off May 1.. I'm making monthly payments on them and then May 1st I'm getting $3500 back from a settlement that will pay off those 3 bills plus 2-4 smaller bills which will only leave me basic bills (car insurance, cell phone, and the household bills) and 1 credit card that I am going to keep open (it has no balance on it and is just for emergencys) and a college loan which will be paid off by november... then i just need to raise my credit score so i can buy a house in 3-4 years...

It is the most liberating feeling to know that there is an end to the tunnel!

 

[Mrs.Reese]

When you payoff that last credit card it is one of the most amazing feelings ever! It's worth all the sacrifice and it taught us how to make our money for us instead of us working for the money.