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Aug 10, 2024    |       6 comments

Personal Loan #2 – Poof Be Gone

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I’m sure you were all wondering with my last update about the emotional credit card payment, what happened to paying off the personal loans first?

I paid Personal Loan #1 off last month. And I planned to pay off the second Personal Loan this month…and I have, mostly.

So here’s what had happened? (Yes, that grammatical weirdness was intentional, don’t come for me.)

As soon as I got paid this month, I started making payments, transferring money where it was to go, etc. And suddenly, I hit my daily limit. Thanks, Zelle!

zelle logo

Ok, I’ll wait til tomorrow to continue.

And the next day I hit my weekly limit. Again, thanks Zelle.

So I’ve transferred all I can with Zelle (no fees for anyone) to where it needs to go…and now have to wait 7 days for my limit to be reset.

I texted my brother with a note on what was up. The balance remaining now is $250. Let him know that as soon as Zelle let’s me, I’ll send the rest of the money. He was fine with that.

And that is the long story about why it took an extra week to pay off my 2nd personal loan.

But now…no more personal loans. (Not counting my dad, but I know that is a personal loan too just never called it that.)

And now we are 100% focused on getting rid of ALL Credit Card debt! Let’s go!

 

Aug 8, 2024    |       16 comments

Emotional Spending or Smart Move?

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I wake up really, really early these days. My alarm is set for 5:30am, but I’m typically wide awake by 4:45am. A few days ago, it was even earlier. My mind just starts running…work stuff, plans for the day, plans for the month, etc. (I’m at the lake by 5:45/6am to walk my mileage every single day.)

Anyways, this particular morning, I got the urge to discard my savings plan for this month – travel and personal (not my Stash and Roth contributions). They are on automatic transfers, so the monies had already been moved to the respective savings account.

Now I know what you are thinking. OMG, what did she do this time?!

So here’s what I did…

cc paid off

I impulsively paid off another credit card. So instead of $790 to personal savings + $500 to travel savings, I ended up with $188 to travel savings and $1,101.88 to debt.

Wise move or too impulsive?

Accounts Closed

The other account you see listed in this screenshot is the CC I paid off back in February when I first got this job. It’s remained a $0 balance since.

And now that they are both paid off…I am making the call to close both accounts as soon as the payment is done being processed! Woot, woot!

What’s Next

This puts my Amazon CC at the top of the list to get paid off next. But then I got to thinking that my largest balance is my Frontier CC (outside of USAA) and thus it costs me the most every month in interest. So what do you think? Should I pay off my Amazon CC in September? I believe I can pay it in full next month. Or should I focus on the larger balance Frontier CC which would take at least two and possibly three months to pay in full?

I wish I could add a poll to this post. Because whatever the votes tally in the comments, that’s the direction I’m going. So tell me, which CC should I focus on next?

Sidenote: The reason I am focusing on these instead of my USAA CC is that I intend to close out all these accounts as they are paid off. My USAA CC, the longest standing CC will not be closed. I am also leaving my Sam’s Club and Apple CC open. But all other credit accounts will be closed.

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