Credit Card Progress

I updated my sidebars, and I progressed a little... but it's not very impressive.

Based on my current Visa balance of $7788, making $300 payments/mo, and calculating in about $77/mo in interest... It'll take me 33 months, or 2.8 years to pay off this card! I'll have paid $2600 in interest! Not acceptable. :(

July 1st will be my last braces payment, so that will free up $439/mo. Hopefully we'll also move into a cheaper apartment, freeing up another $100/mo. So August 1st I can start making $839/mo payments. Then I'll be able to have the card paid off in 10 months! So by June 2010, and just in time for the bar, my credit card will be paid off.

Which reminds me... at that point I'll need to make a $3000 payment to Barbri (for bar prep classes). Wonderful! If I don't have any money saved up by then (or even better, a firm to reimburse me), that money will have to go back on the credit card I just paid off! UGH.

4 comments:

c.c. said...

Why don't you look into opening a new credit card and transferring that balance to a 0% or whatever offer. It'll free yourself of paying those pesky finance charges.

Sunflowers said...

@cc: I've tried, and the only offer I was given I took... It currently has the last (850ish) of another card's balance. It has a very small limit. If I can raise my score in the next couple months, I'll try again, but until then, I'm stuck!

Serendipity said...

Have you looked into making more income? Like, side jobs so you have more money to throw at it? Thats the main reason I babysit so dang much. :)

Sunflowers said...

@Serendipity: No... I could increase my hours at my current job, but I don't want to. The reason I quit my FT job to begin with is because I needed to focus on law school. I am 90% likely going to go back to working FT, but for now, I have to work with the money I have, and try to do as well in school as I can (and do some unpaid volunteer work to bolster my resume).

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