Last year we managed to pay our credit card debt down from $23,587.53 to $15,541.76. That's a drop of $8045.00.  I thought today I'd take a few minutes to share an update on how we're doing on paying down our debt, because yes, in spite of the doggone money crunch we're experiencing, we are still working at paying down our credit card debt!

I guess we're following some good advice: Stop worrying about how you got into debt and start focusing on how to get out!

So… last month I set up a recurring payment toward our Wells Fargo Line of Credit which I did not remember setting up… but there it is, a recurring identical payment also set up in Quicken.  If there's one set up in Quicken, then I must have set up the one at Wells Fargo.  Hmmmm… I must have done that while sleepwalking one night.

Since I'd made a payment to the Line of Credit on the first of the month, a few days later the recurring payment transferred, for the same amount.  I guess my waking mind and my sleeping mind both had the same idea. I had to retrieve just over half of the second payment from my sinking funds in order to make ends meet until I get paid.

Oh, and speaking of my employment, the fire just got turned up… we're having a deadly serious financial crunch at my job, and management is scrambling to make payroll.  Fun, fun, fun, the fun just never ends! We've had these problems in the past, but things worked out, so I can only hope we see the same thing happening this month. Crossing fingers and toes!  Not getting paid by my employer is definitely one of my financial terrors.

In spite of this darned money crunch, we have not had to resort to using our credit cards and going further into debt!  I am so thankful for this.  My sinking fund accounts are hurting a little bit, I'm short by $123, but that's because I made that double payment to the line of credit.

Last year we were tossing about $670 extra to the credit cards each month, and I am not able to do that with the money shortage.  Earlier this year we parted ways with our dairy goats which saved at least $150 each month, I've been carefully assessing my needs vs. wants and AJ got back a nice tax refund and has been making double car payments, this has really helped us to stay afloat without having to go further into debt. I've also found a few ways to save money on food and have been utilizing a few places that have great prices on vegetables, which I admitted we should have been doing all along.

In addition, some friends of the blog have been faithful to use my Amazon search box to shop through and I've been able to pay an extra $59 to our credit card debt from affiliate fee revenue. You know who you are, thank you kindly.

And in fact, we've actually managed to pay more than the minimum on all of the cards, on most months.  I think I have made one minimum payment one month on one card.

And so without further ado, are the new numbers on our credit card debt:

$13,333.03

That's not too shabby, hey?  That's still $2208 paid down for 2011.

So yay us, and I hope things are better for us soon and we can pay more on our credit card debt soon!