As of 5 minutes ago I paid off our second credit card! Wow does that feel good!
2 down, 4 to go. The next card will definitely take longer to pay off as it has a higher balance. But, we are making good progress and I can SEE it which is really motivating. By simply updating our net worth spreadsheet, and total debt spreadsheet I see a HUGE difference.
There is one small bump though. The hubby is traveling to a conference and a training program this Spring. One is in May, and one is in June. Normally he travels for a week ever other year, so this is unexpected and exciting!
The catch is the hubby pays for the airfare on our credit card and then his work reimburses him. It takes less than a month, so we won’t be charged any interest (assuming he gets his paperwork in quickly!), but I’m not happy about seeing those numbers change again. He will also use our credit to pay for his hotel room and meals. All those expenses are reimbursed as soon as he submits the paperwork and it’s processed. Last time he traveled it took 3 weeks.
We are going to use the credit card that has been cleared to pay for those expenses, and when we are reimbursed the checks will go directly to paying off the incurred debt.
This is something I am pretty nervous about doing, but it will be a good lesson in willpower and discipline for us both.
I am planning on joining him after his training is complete on his 2nd trip. That way we’ll get a mini-vacation and his airfare will be covered. I’m REALLY looking forward to that, we haven’t been away together like this EVER.
I’ve been focusing on a trip like this as a reward when we are debt free. I assumed to be totally debt-free it would take us until July of 2010, and since our 10 year wedding anniversary is in January 2011, the timing would be perfect for a vacation for the just the 2 of us. The amazing thing is the destination I have been focusing on (I’ll share more on how I did that later), is the same place he’s going for training: San Francisco!
Kelly
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