This month, I was unable to achieve my full commitment of $1500 towards reducing debt. I achieved just less than half of that. The biggest factor was the purchase of a used car, which we needed now with 5 working drivers at home and only 3 cars.
Here's my credit card debt summary for the month:
The chart below shows my credit card debt starting in January, 2008, and running through October, 2008. As I've mentioned elsewhere, I invested in a real-estate rehab, which spiked my total credit card debt to $63,000 in February. I got the house rented out in May, and since then, I've worked down the total to debt as shown in the chart below:
Current Debt: $36,242.95
Starting Debt:$63,311.34
Monthly Commitment: $1,500
Average Rate: 3.72%
Payment Efficiency: 92.35%
Payoff Date: Dec-2011 -2y 2m