Shoeaholic No More



June 2015



It’s Time for a Mini-Celebration!

Written by , Posted in Money & Finances

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sparkler-677774_1280I’m a big fan of celebrating progress, even when it’s not a major milestone. Don’t worry, I don’t plan to “celebrate” and set myself back by taking on more debt for my celebration. 🙂

Oh, why am I celebrating? No big deal, it’s just because the last payment on CC#8 went through the bank yesterday. Woot!!

In case you don’t remember, I told you all in February that my next debt focus was CC#8, which had about $1,350 to go. But in the meantime, I went ahead and paid off CC#5 too.

This means that when the last payment for CC#8 went through the bank yesterday it officially became the 3rd card I’ve paid off this year. I also got it paid off way ahead of schedule as my goal was to make sure it was paid off by at least September because that’s when my 0% interest promotion for my computer purchase was set to expire.

As I always do, I removed CC#8 from my sidebars already, and I updated my plan of attack based on what debts I currently have left.

Now that this debt is paid off, my snowball amount has grown to be about $235. Usually I’d put that whole amount onto the next credit card I want to get paid off, but this time I decided to do something a little different. I’m going to split my snowball onto two cards.

Before you crucify me for this decision, hear me out. My new balance transfer credit card is at 0% interest for 12 months until June 2016. This means that I need to pay just under $200/month to pay off the balance by the end of the 0% interest promo period. But in the meantime, my high interest credit cards will continue to accrue interest, which slows down progress. Therefore, I’ll be putting part of the snowball toward CC#12 (the 0% interest card) so my monthly payment will be $200/month and the rest of the snowball will go toward CC#7 which will make the monthly payment around $103-ish.

To help you (and me) out, here is a table showing my remaining debt and how I plan to pay them off:

CC#Balance (5/31/2015)Monthly Payment (Minimum Payment)Interest RateGoal Payoff Date
#12$2,007.38$200.00 ($75-ish)0.00% UNITL 6/20166/1/2016
#7$1,133.17$103.00 ($43.00)24.99%7/1/2016
#10$1,208.21$28.00 ($28.00)15.24%10/1/2016
#11$1,904.86$57.00 ($57.00)24.9%2/1/2017
Parents$2,700.00$50.00 ($0.00)0%6/1/2017
Student Loan$6,443.94$93.07 ($93.07)6.55%3/1/2018
TOTALS$15,397.56$531.07 ($296.07)--

Do you have any reasons to have a celebration? Tell me your latest wins!


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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.


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