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Pretty Disappointed, but Implamenting a Plan

February 2nd, 2012 at 02:40 pm

Did my taxes yesterday and after paying my husband's social security and self-employment tax, plus my youngest turning 17, which means I don't get the extra $1000 child tax credit, I am only getting $773 back.

I guess it is better than paying, but I needed to pay off some debt. Two bills in particular, my Care Credit card and winter property taxes are due.

So, here is the breakdown.

*$246.03 will go to winter property taxes; and
*$527 will go to Care Credit. Here is the breakdown of my care credit card.

-$987.00 is due by 4/27/2012. If not paid by then the accrued interest will kick in. Leaving $460 to pay off in 3 month. I will need to add an additional $153 each month to meet that goal. I do have the money in my EF account, so I can actually meet this goal.

-$537.00 is due by 5/28/2012, but my regular montly payment will bring this down a little more, so I will see where I stand the beginning of May when I pay this bill. I may just transfer the money from my EF to finish paying off this balance, if I don't have it tackled by then.

-The remaining balance after that on the Care Credit card is not due until November before the interest kicks in, but I will pay on it monthly to get it paid off before then.

I also want to kick the Art Van and Amazon Visa out of here, so I can focus on the remaining three, Discover Wamu and Freedom.

There is my plan. I am pretty excited about it, cause I can see the light at the end of the tunnel for a lot of this debt. By Memorial Day, when I start my summer beach job, I should only be dealing with the remaining three credit card debts, and that is a good feeling.

I am also going through my home and selling off many items, which will also help me meet my goals above.

I will keep you updated on my progress.

3 Responses to “Pretty Disappointed, but Implamenting a Plan”

  1. laura Says:


    I admire your determination to deal with the debt head on! Looks like a good plan to me! Keep going!

  2. creditcardfree Says:

    Great plan! Keep us updated.

  3. Jerry Says:

    You are doing great! Don't let the smaller tax refund lead your spirits down, that is the nature of things right now. It sounds like you have some insurance of making great decisions with the resources you have right now, and that will make a difference over time!
    Jerry

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