CCCS Update

The other day I put together a badass chart showing what our monthly payments are to each of our CCCS accounts, and how much of that lump sum goes towards each credit card. Each credit card has a different APR, ranging from 1% to 6%, and we still get statements from each card showing what the balance is and all that good stuff.

So in my chart, I put what out current monthly payments are for each month and then used this calculator to figure out how many months it would take (including interest) to pay off each card. It was slightly tricky because once one card is paid off, that money gets applied to a different one, so I kept having to adjust the total balance field and keep track of the months.

At any rate, Ryan's first card will be paid off in June (JUNE!!!!!!!!!!!!) and his second will be paid off in August (!!!!!!!!!!!!). And then he is done. DONE. Then we snowball that lump payment towards mine, and my cards finish in September and October.

In just 5 months we will be free of the credit card debt (!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!) that has been weighing us down like a friggin ball and chain since grad school. We started the CCCS program in August 2006 and in just 5 months we'll be done. Based on our original debt they quoted us 5 years to pay it all off, but in the past 4 years we both got new jobs with bigger salaries and have made it our business to throw as much as possible at CCCS to get it paid faster.

I can't even begin to tell you what an accomplishment this is. I realize we should have been smarter with our cards and all that jazz, but what's done is done, right? I can't change the past, but the future currently looks amazing.