Thursday, August 28, 2008

Discover Charges

Tina, one of my commentators about our Discover Card asked:

I was wondering what kind of things are you charging? I just found your blog and haven't read all of the entries yet but I have a suggestion

Well I don’t have all the 2008 numbers yet, but I found our yearly summary for 2007 and again was shocked to see all the things we charged:


Keep in mind this is before I started this blog and became aware that we had spending problems. Also keep in mind this is for an entire year, so $833 dollars for eating out comes out to $70 a month on average.

Warehouse Clubs would probably be Sam’s since that’s the only place I remember using Discover, surprisingly that number does not seem too high for one year. Gasoline is probably on there for the cash back bonus. Normally we use our check cards for gas purchases unless Discover is running a 5% special.

Travel and entertainment charges are probably for the wife, she loves to vacation with her mom every six months and I usually put her airfare and hotel charges on Discover to get the cash back and for automatic insurance.

I will post the 2008 numbers as soon as they become available.

HS

Wednesday, August 27, 2008

Discover Balance

Our Discover Card balance is 0! We made the final payment on Tuesday and this morning we are done with this card. I will not use this credit card ever again. I can’t believe we put over $3,000 on it this summer, unexpected stuff happens but now we can move on.



I should be celebrating but I feel like we have not made any real progress in the past few months with our credit card debt. Our goal in the next three months is to reduce Best Buy and get rid of CITI Professional.

I will post all the updated balances once I get the statements next week.

HS

Friday, August 22, 2008

Discover Balance for August

The current balance on our Discover card is $990.05! As you can see in the previous post, the cards are destroyed and we will be making the final payment next week. I hope we don’t have any other unexpected expenses until July 2009!



Check back next week to view my 0 balance post for this account. I hope we can get back on track next month. My goal for September will be to reduce the Best Buy account down to $1000. The goal is to pay off the smallest debts and then focus on CITI.

I hope everyone is having a good Friday.

HS

Wednesday, August 13, 2008

Discover Card

We cut up Discover! It felt so good, below is the picture of the cards:



The picture was taken on our kitchen countertop, if you look hard enough you can see our account numbers and you can also see the logo. Our goal is to pay this off and never use it again. I will post a picture of the zero balance in the coming days.

HS

Tuesday, August 12, 2008

Discover Statements

We have a problem! I pulled up the last 12 months of statements from Discover and something interesting came up, we charged $4,971! Amazing! Most of that is probably from May to July of this year, but that is a lot of money… as you can see we paid most of it back and the final payment will go through at the end of the month. I promise I will cut up all the cards when the balance is 0 and post a picture.



Currently our goal is to pay cash for everything but stuff keeps coming up so we charge things and pay them off right away. I wish I knew how to get out of this cycle, even if we had an emergency fund I still think we would charge things.

HS

Friday, August 8, 2008

Credit Card Balance

Quick update on all our credit card balances:

CITI Professional: $1400.00

Best Buy: $1598.78

CITI Premier Pass: $6240.33

Savings Account is down to $150 – The reason is a friend at work got the new Iphone 3G and wanted to sell his old one for $150 (16GB). I could not pass up this deal, his old one was only 4 months old. So now I have the cool new Iphone sitting at home.

It seems like we are not making any progress on the debt. Other stuff keeps coming up and Discover is back up to $800! Our goal again this month is to pay this off and close the account. We already cut up the cards. I will have a post on that later on this week.

HS