Sunday, March 9, 2008

Total Debt

$4250.00... WOW what a scary number... that is the total of my credit card debts !!! I got online and checked my five credit cards webpages to determine my total balance owed to each...

Card #1 $1700 (interest rate 24.7%)
Card #2 $300 (29.74%)
Card #3 $1000 (21.62%)
Card #4 $750 (16.4%)
Card #5 $500 (16.4)

According to Suze Orman's book, Women & Money, you should pay off the hightest interest rate credit card, no matter the balance. Since my lowest amount credit card is also the highest interest rate, I am going to get that one paid off first.

I absolutely loved Suze Orman's book, however, most of her suggestions, I am already doing... (i.e. higher deductable on my car insurance, interest earning checking account, balance my check book each month). So it is hard to find extra money from my regular paycheck to put towards credit card bills.

I began this journey, that I know so many other people have already taken, to gain financial freedom. I want to be able to have a savings account and know if something happens where I need to come up with money (such as minor health problems, car problems, etc.) I will have it. At this point, I could not even deal with so much as a flat tire without having to borrow money from family. I HATE living this way and I am determined to make a change. I started making CASH online from just completing surveys. I have already earned $13.05 and I have an additional $25.50 pending from offers I completed, just since Saturday. At this rate, I could have my debt paid off eight to nine months, with only working online 15 days out of the month.

If you are in the same position as I am with debt mounting up or if you are just looking to make some extra cash, check out cashcrate.com - it is absolutely FREE... no costs... you dont have to give them your bank account... they use your paypal account or they issue you a paper check.

Anyone else in a similiar position? Please share your experience. Any suggestion you might have or post and let us know what has been working for you to get out of debt.

5 comments:

Anonymous said...

Hi. I took your advice on joining CashCrate, so thanks. I'm a little worried about being bombarded with junk mail & spam. Have you had a problem with that yet?
-Teresa

Paying off debt said...

Yes, I have been inundated with junk mail. I just go in and delete them all. One thing I wanted to mention to you - which you might already know- but I did not realize it right off the bat- any pop-ups that come up in a seperate window when you are completing a survery- you can X out of the pop-up and close the window. That is not a requirement of the credit for the survery. Additionally, I had previously told someone that I did not complete the offers that required you to sign up for Gold or Silver offers. I have since found out that you can complete these without having to sign up for anything. Go through each page until the final page (which will either be the final page or it will be a pop-up) saying "THANKS .. now as a special gift please select two silver prizes.' Once you get to this page, you can close the window and go back to cashcrate and click on the submit link. You will receive credit for completing the survey.

And I dont know if you have had any problems with a window popping up saying you must select yes to one advertiser- what I usually do it go through each page and tell one box next to an ad yes- then it brings you to their ad and I simple click on either no, skip or no thanks. You will still get credit for completing the survey.

Please let me know if you have any questions.

Anonymous said...

Thanks, that is so helpful. I had been avoiding the offers that required you to sign up for X Gold offers & X Platinum offers, ect.. I will give that a shot. I just didn't want to get roped into signing up for another credit card or something just to complete a survey.
-Teresa

Anonymous said...

We all want to overcome our debt problems. So, before paying your debt you need to calculate your total debt. If it is not possible for you just take help from a debt advisor.
Very informative post. Everyone will need to know this thing in this economic situation.

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