Saving Stargirl

I know it’s been a dreadfully long time since I’ve updated here, but while the blog has been somewhat neglected, my savings plan/debt management hasn’t. The exciting news is that today I paid off the LAST of my American Express credit card balance, meaning that for the first time in almost 2 years,

I have no more credit card debt!!!

I still have a personal loan to continue paying off, but it was the credit card that was causing me grief all this time - I just couldn’t seem to get the darn thing paid off in it’s entirity, but I’ve done it now - and hopefully it will stay in the clear from here on!

From Friday 23 February 2007:

American Express credit card: $949.75 AUD
Personal loan: $5,028.15

Total: $5,977.90

Since then:

American Express:
+ $113.12 (*coughs* um yeah… went shopping last weekend…)
- $250 (repayments)
Total: $812.87

Personal Loan: $5,028.15
- $150 (repayment)
Total: $4,878.15

New Total Owing: $5,691.02

From Wednesday 7 Feb 2007:

American Express credit card: $1,549.75 AUD
Personal loan: $4,975.23

Total: $6,524.98

Since then:

American Express:
+ Still nothing!!
- $600 in repayments
Total: $9,49.75

Personal Loan: $4,925.23
+ $52.92 (interest, grr!)
Total: $5,028.15

New Total Owing: $5,977.90

This is the first time in MONTHS (over a year, I think!) that my Amex card has been under $1,000 owing, so this is definitely a milestone for me. A little over 3 more weeks, and it will be paid off!!! That is so exciting to me.

And then I can start tackling that personal loan with a similar aggression, so I can stop getting slugged with such high monthly interest fees!

From Wednesday 31 Jan 2007:

American Express credit card: $1,796.92 AUD
Personal loan: $4,975.23

Total: $6,772.15

Since then:

American Express:
+ $52.83 (interest charges… boo!)
- $300.00 (payment today)
Total: $1,549.75

Personal Loan: $4,975.23

New Total Owing: $6,524.98

I was upset with the interest charges - I thought that since I had paid so much off the card last month, it would be a lot less, but apparently not. Well at least there should be very little interest charge for THIS month - and hopefully none by the next month, becausen my credit card will be paid off by then!!. There is light at the end of the tunnel.

Right?

This is a good one!! :D

From Wednesday 24-Jan-2007:

American Express credit card: $2,996.92 AUD
Personal loan: $5,125.23

Total: $8,122.15

Since then:

American Express:
+ nothing again!!
- $1,200.00 in repayments !!
Total: $1,796.92

Personal Loan:
- $150.00 (monthly repayment)
Total: $4,975.23

New Total Owing: $6,772.15

I am so thrilled! The money from my housemate cleared, and finally arrived in my Australian bank account today - just in time to send off a payment to American Express before the end-of-month interest hit. In just a few weeks, I have halved my credit card debt, and I should be able to clear it well before my goal date of Easter - hopefully by the beginning of March now! This is a huge relief, as I’ve had debt owing on my American Express card for well over a year now, due to lots of overseas travelling, and it’s nice to finally get a hold on it, and get back in control.