Monday, January 2, 2012

This is what I am dealing with...

Well if I want to become a homeowner in the next year and a half; one thing I would like to do is reduce my debt while increasing my down payment amounts. I already have a decent credit score but it could always be better to have a lower mortgage rate.

So here it goes, you know it seems like it should be easy to post something like this but it is not.

I am going to leave some of my finances a secret and post money spent and track credit card debt, school loans, emergency fund and down payment savings.

So I have three credit cards that carry debt:
Credit Card #1 carries a balance of $3,377.94 @ 11.24% APR
Credit Card #2 carries a balance of $323.82 @ 10.9% APR
Credit Card #3 carries a balance of $2,095.01 @ 10.9% APR

I have school loan sitting at $10,081.37

Down payment fund is currently sitting at $2,207.34.

I set the goal at $10,000 but am not really sure what I need to be looking at towards this.

And I have an emergency fund of $1,000 fully funded. I really do think that it needs to be increased. What do you think?

So now I have laid it out. Any advice on the best way to tackle this?

I believe that I am going to start paying the minimum on all but credit card number one. I was paying more than the minimum on card number two but I just negotiated a lower APR so I think I should start paying the one with the highest again...

I was going to add tickers to this post that I could update.... But I ended up having some technical difficulties. Once I better figure out all of this blog stuff I will update with some visuals.


  1. Good luck! It's a great goal to own your own home and a wonderful investment :)
    P.S.thought you would be interested my giveaway @ xo

  2. P.S. I'm hosting another giveaway and thought you would be interested :) xoxo