January 31, 2007
What I Saved
Curious to see what my savings would be over the course of paying off my credit card debt, I used CNNMoney.com's trusty debt reduction planner calculator. Say that 5 times fast. ;)
First up, if I pay the minimum of $92/mo:
3 years and 11 months?!?! Booo!!!
Now that the other credit cards are paid in full, what'll happen if I rollover those payments and add it to Capital One Golds $92/mo for a $170/mo minimum?
1 year & 10 months???? Meh!
So what'll happen if I not only rollover all those payments and tack it on to the Capital One Gold minimum, but I also add my $236 10% snowball...
9 months??? Okay okay okay...
So how about this? What if I add up the rollovers, the $236 10% snowball AND I toss in all recent bonus monies?!?!?
Why, I come up w/this:
Huzzah!!
As promised, as of today January 31st 2007...I am now 100% Credit Card Debt Free! It's been a long slough, in coming days I'll regale you all w/tales of the debt pay off. Later I plot the loans pay off, for now, I dance.
Oh, and b/c it always helps to accompany credit card pay off posts w/the obligatory money shot...here it is:
4:11 PM in Bonus Monies, Capital One Gold, Credit Cards, Paid Off, Snowballing
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