Finance Notes: I’m in the black


£500 in the black. I paid off the last remnants on Friday 17 June 2011. Never going to forget that day. From now on, only purchasing what I can pay in full on my credit. My credit card is now showing a healthy positive balance of £500.

On the road to being more financially responsible!

Have you ever been in credit card debt? How did you get out of it? Let me know in the comments!


10 thoughts on “Finance Notes: I’m in the black

  1. I’m credit card debt also. I can’t wait to get my cards down. I wonder is their a good way to get them down.

  2. Yes, in it now. Not a frivolous spender; life happens and there was no choice but to use ’em. Can’t WAIT till it’s all over. :-/

      • Most of the cards are on payment plans set by each credit card company. One of the cards, even though the minimum payment went down since I pay on time, I still pay more than the minimum. The rest….. the minimum will have to do for now. :-\ But at least the amounts are set in stone, including the interest rates.

        As annoying as it is, no choice but to keep going.

        • I think it’s good you pay more than the minimum. This is where people get bitten by not paying the minium. Do you think that credit cards are good or bad? I got that credit card when I was young and used it badly because I didn’t get how it worked. I am older know, so I understand.

          • With proper financial education (which ought to be mandatory in high schools in my opinion), they can be good. I was lucky enough to have a parent who helped me with understanding credit cards. Unfortunately, unexpected emergencies came up and I had no choice. But for many people, credit cards are atrocious and personally, I hate all credit card companies. 😐

  3. I am currently in some credit card debt. It may sound backwards but whilst paying off one I acquired a second. However the 2nd one is just for my online spends which i clear within 1-2months. I will start making higher pymnts to get the 1st one down quicker too. its okay to save but saving would have taken me a lot longer

    • Thanks for sharing your side, SoFro. I think credit cards are useful (how else would we be able to book hotels?). For me, CC debt was hard to get out of but now I am out of it, it makes me think hard about my spending patterns. I still have my overdraft to clear, but that’s interest free the last time I checked with Natwest they said I had interest free for one year. Just working to cut it all down to nought!

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