Credit Card Debt – April Payment

Getting out of credit card debt is one of my top priorities. At the end of last month, I posted about my credit card debt payoff series. There, I indicated that my credit card balance was over $11,000! Ouch! Since that time, I’ve made additional posts, including my dividend income report for March 2022. As I indicated in my dividend income report, I was able to put a small dent in my credit card balance. The credit card balance when I made that that post was $8,899.15. I also posted about Dave Ramsey and the First 3 Baby Steps, where I indicated that I was able to bring my credit card balance to about $8000. That is still a hefty amount, and I need to get rid of this as soon as possible. So, without further adieu, here is the update on my credit card situation.

Credit Card Balance Report

I do continue to use my credit card (for points), but on average, my balance trended in the right direction! Without delving into each purchase or payment, here is the net result of my credit card paydown since my last dividend income report on April 1, 2022.

My new credit card balance is: $7589.71. That’s a difference of $1,309.44.

I wish I could do that every month, but I know I wont. However, I am anticipating that I will be able to make a hefty payment next month. Regardless, I will be laser focused on reducing my credit card debt as fast as possible.

Conclusion

There you have it. My credit card balance was reduced by over $1000, since the beginning of this month. Hopefully, the trend continues and I am able to meet my goal to payoff the credit card debt by October 2022.

Moreover, although I continue to use my credit card, I have mainly (but not entirely) shifted to a cash only budget.

I’m not opposed to cutting back on some of my investments to reach my goal. I’m also contemplating using some of the proceeds from my vacation rental in order to eliminate the debt. Regardless of which path I choose, I am highly confident that I will be able to meet my goal of getting out of credit card debt by October.

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