First day of the website and this is really the first time I have had the guts to add the debt up. It looks alot less scary on paper. My goal is to have my MBNA payed down by $3000, which is half, by next June. By then I will also be trying to buy my first property so I need to get my credit score up from its current 604. The Journey begins!!
So yesterday I decided to open this website and see where it goes. My starting balance as you can see is $21,822. That's alot of debt! Its funny how your credit report works....recently I tried getting a personal loan in the amount of $6000 to pay off high interest credit cards and was told by the bank that my debt to income ratio is too high, and I need to lower it before I can qualify for a loan. Well the whole reason I want the loan is to pay off that debt!! If I lowered my debt to income ratio..............I wouldnt need the loan! Haha.
Man, so Im not updating the blog until 8:30 PM! Spent all last night dancing it up at the Bikini Beach Bar at Trump Plaza In Atlantic City. Don't worry...stayed away from those blackjack tables! ;) Which brings me to a little confession of mine: Probably at least $2000 of the debt I am in is originally cash advances to play high limit blackjack. Learned my lesson the hard way on that one. Atlantic City is much more fun if you just STAY AWAY from the gambling hehe. - Damian
Yeah so I havent updated the website in a good week Id say. Im still keeping very close tabs on balances and my progress , just havent had a chance to ptu it all on the website. I pumped a good $600 into my highest interest card in the past week and a half. Well, time to update these numbers!! =) Happy Friday everyone!
- Damian
PS Wish me luck tomorrow, I will un-smartly be at the poker tables to blow off some steam and hopefully make some money. It would all go toward debt....if I lose Ill be an unhappy puppy!!!
Since the website's humble beginnings on July 22nd, Total Debt is down $1,044. That is a 4.8% decrease. Thats $1,000 I no longer pay interest on! Only 20 more to go!! This is a great motivator. Being able to knock off a thousand dollars in debt in little over a month and a half is a huge boost. I am now on a strict budget and have banned all trips to the casinos. I want to keep up with the momentum and hopefully have another $3000 payed off by the New Year. Set goals... but keep them realistic...and stick to the plan!!!
Damian
