Feels Good.

[red92s]

August transactions from my Citi card:

• $24 in interest accrued
• $2 in new charges
• $1900 in payments

Current balance now stands at just south of $850. The $2 charge was an accidental coffee purchase (pulled the wrong card out), I no longer even carry the card. Hope to have this card paid off by the end of September.

I've also banked $450 towards my EF during August (target around $5k for now), while simultaneously increasing my 401(k) and IRA contributions. So in one month I managed to:

• Reduce CC debt by over 60%
• Build almost 10% of my EF
• Increase retirement contributions

None of this would have been possible without with lifestyle and mentality changes this forum brought about. By my 25th birthday (mid-december) I should have only a reasonable monthly car payment ($160) remaining, and will start making larger EF contributions.

[Aleta]

You are doing really great. Keep it up and just be patient.

[poundwise]

More power to ya!

[red92s]

The single biggest thing that has permitted this was the mentality change.

My brother, almost exactly one year older than me (366 days), returned from the Peace Corps, and received a lump-sum of $7k for his two years of service. I started thinking about how many of my friends that I graduated with last year could claim they would be able to claim $7k in savings after 2 years with a $55k annual salary . . . pretty much nobody (myself included). That was kinda the spark, realizing that starving in Africa for 24 months was more lucrative than making an above-average salary (for the age) and living at the level I was.

[boefixepa]

I think living and helping in Africa (I did it fro only 8 months though) is a huge wake up call to anyone! I'm glad your brother did it and even happier that you were able to learn something from it to!! Way to go. Keep it up.

[loanstar]

congrats on your progress so far!! keep up the hard work!

[mbhunter]

Great job. A 60% reduction in debt is excellent.

[Lindahfx]

You are doing an amazing job! I can't wait until I'm in your situation and I only have one month left to pay on my cc. What a good feeling.

[red92s]

. . . bah, had to have a new windshield installed so I could pass inspection for car insurance/registration in MA. Cost was $208; although the new insurance saves me ~$50/month, so i expect after all the incurred costs I will break even or be ahead slightly. Used the card to keep cash on hand to pay rent at the end of the month. Three steps forward, one step back I guess.

[Broken Arrow]

The single biggest thing that has permitted this was the mentality change.

That's something that I've been evangelizing for a long time now. I am glad that you're doing it, and hope many others will join us on here as well.

[scfr]

. . . bah, had to have a new windshield installed so I could pass inspection for car insurance/registration in MA. Cost was $208; although the new insurance saves me ~$50/month, so i expect after all the incurred costs I will break even or be ahead slightly. Used the card to keep cash on hand to pay rent at the end of the month. Three steps forward, one step back I guess.

As yes, life happens, doesn't it? But think about how much better prepared you are now to deal with this minor setbback. Keep up the good work!

[Tree0164]

Red Congratulations! You are making great progress!

[Ima saver]

Good for you. starting young will put you so much farther ahead of your peers.

[Fred333]

It always feels good paying off the debt. Great job!

[Hanuka]

nice xD