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Baby Steps

May 19th, 2022 at 07:23 pm

I’m still not quite ready to share our debt total, but I am ready to talk about it.

We only have one credit card. (For pretty obvious reasons as we aren’t responsible with credit.) For the first time in our adult lives, however, we have exceeded our credit limit. And we have a very high credit limit!

Our April statement was $1105.68 over our credit limit. Sad to say, I think it might just have been the kick in the pants we needed. We are not proud of it, but it shocked us in a way nothing else has! By our May statement, we were still $465.13 over our limit. Still over, but after interest, we paid off $640.55. We have continued to make progress. With the payments we have already made this month, we are below our credit limit. We aren’t below it by much, but we are making progress. Currently, we are $124.88 under our credit limit.

Throughout this billing cycle, we have 3 more opportunities to put money towards our debt. We have budgeted another $1784 to go towards our debt by the time this cycle ends. (May is a very expensive month for us! We have 2 birthdays, an anniversary, a high school graduation, and an out-of-town wedding.)

I’m just happy we are back under our credit limit. And hoping that we will continue to make decent progress each month.

4 Responses to “Baby Steps”

  1. LuckyRobin Says:

    I don't think there is a number you could name that would surprise me. Believe me, I've been in so much debt in the past that I worked my way out of, and watched so many people on the blogs work their way out of it in the past sixteen years, no one is going to shame you. I'm glad it shocked you back out of your spending habits, though, and have managed to get your debt back down under the limit. The fees for going over and staying over for a bit were fairly high, I imagine. Let this momentum carry you forward and get the card paid off as soon as you can. You will feel so much better.

  2. rob62521 Says:

    At least you are below it. Think of ways to chip it down even more, and I'm sure you are looking for ways to spend less, even during this high inflation period. Keep on putting money on that debt like you have been!

  3. Amber Says:

    Baby steps, you’ll get there. I was over $200k in debt. Mostly credit cards, student loans and a mortgage. Im at about $130k. It takes time but you’ll get there. Keep pushing

  4. LivingAlmostLarge Says:

    Nothing is shocking. I can honestly say I know now someone with 7 figure student loans so....

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