Killing the credit cards: 2 down and 2 to go!

Posted October 15th, 2015

Yesterday I made arrangements with my main bank to do a balance transfer of the last $960 we owe on my Kiwibank Mastercard.

This means that since May we have managed to pay off

• $1500 Visa
• $2000 Kiwibank Mastercard
• and a further $250 on the remaining two credit cards.

This is in addition to the

• $2800 loan from my mother
• $650 balance solar water heating
• $600 glasses

So we have a debt left of $6500.

We now have no money not even an EF till pay day. I have cleaned out my EF twice on worth while projects-car repairs and also getting insurance on to a yearly deal so I pay less money long term.

To be fair I did have $4800 in redundancy which I have put towards the debt but feeling pretty proud of ourselves at this point in time.

So we started off with $14550 in dumb debt and now am down to $6500. We have paid $8050 off and got our finances ticking over so that outgoings meet incomings.

This is a complete turn around for us. I am not too worried about the lack of emergency fund as I will be able to put $200 at least and maybe more towards this next pay day.

It has been a combinations of Christians Against Poverty money management course, Dave Ramsey, curbing our lifestyle and increasing income.

I can't wait till we have an EF of $1000 again and the debt paid off:)

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