Let's pay off our credit cards (buckle your swashes!)

Wonderful news Fleeting!

And it's gone from my online banking. I've decided to work on the slightly bigger cc, with a lower interest because we will be closing that one. The other is connected to the mortgage so it will sit there until we can close that too. Onwards and downwards.

Wonderful news!

Thought I should provide an update, haven't done so in a while!

So our cards are now $3,400 on the ANZ and $5,500 on the Citibank, so a total of $8,900. I am getting used to paying our utility bill every month, which I like.

The Citibank is on a low rate balance transfer and will need to be paid off by November. Planning on paying a chunk off it when we get our tax return and supps.

So no great leaps, but we are ticking along nicely. Hoping to renew our lease again soon, I always relax a bit when we've signed a new one.

Anyway, hope everyone else is going well. Onwards and downwards!

Woo hoo, great work Silverstreak.

We're a little stuck this month due to having a HUGE bill month and being down a couple of k will hubby gets on the proper pay rotation. Next month should be back to normal, except my daughter's dancing fees will be due.

I love paying my utilities monthly too. Makes it so much easier to track. I do as much as I can monthly.

Hoping to start the snowball effect now the loan is gone. My current card I'm working on has $5800 owing. The other has less but this is the one I want gone first.

Plod plod

Good luck with the snowballing, Fleeting!

Card 1 down to $5200. Getting there!!!

Fantastic news!

And we're stuck. Hubby's new job didn't quite work out, so we're on one wage for the time being.  Just don't want to increase debt at this time. 

Sorry to hear that @Fleeting. I hope something falls into place soon.

No news at our end either, just hanging out for tax return time!

fingers crossed he finds something soon Fleeting!

We have modified ourselves.  New mortgage sorted and we opened a credit card for the sole purpose of keeping as much money in the offset as we possibly can.  We are nearing the end of month #2 and so far so good.  Month #1 paid in full on time.  Happily tracking so month #2 will be the same.  

Still no job. Loads of interviews. Hoping he has something by the end of next week.

Good luck @Fleeting!

Well all our tax returns have been done, looking forward to returns and supps. I like to overestimate our income, so we usually get some FTB back.

So we're currently at $10,700, but hopefully when we get everything back I can get us back down close to $5000.

And some good news, a nice business order came through which will keep DH busy and bring in more money.

Hope everyone is doing okay leading up to tax time, onwards and downwards, me hearties!

We have a job! A bit of a pay cut (20k) but it also includes NFP salary packaging up to 15900. I have to get used to fortnightly pay again as I was used to working in monthly.

Hopefully we can get through next few.weeks without adding too much to the credit cards.

7 minutes ago, Fleeting said:

We have a job! A bit of a pay cut (20k) but it also includes NFP salary packaging up to 15900. I have to get used to fortnightly pay again as I was used to working in monthly.

 

Hopefully we can get through next few.weeks without adding too much to the credit cards.

Congratulations so happy for you both 

Fantastic news @Fleeting!

New total $7650 and I hope to pay down more next week. Our balance transfer only has $2100 left to pay off.

On 05/07/2021 at 4:56 PM, Fleeting said:

We have a job! A bit of a pay cut (20k) but it also includes NFP salary packaging up to 15900. I have to get used to fortnightly pay again as I was used to working in monthly.

 

Hopefully we can get through next few.weeks without adding too much to the credit cards.

Oh yay!

I think you might be pleasantly surprised by how much the salary packaging. I was stunned when I had it on a 6mth contact once. 

17 hours ago, Silverstreak said:

New total $7650 and I hope to pay down more next week. Our balance transfer only has $2100 left to pay off.

Wow that is awesome!! I can't wait to get mine down further, I have about 600 worth of payments I can once ready snowball onto and my daughter's braces only has 3 payments left so I'll continue rolling that amount as well.

9 hours ago, Ozgirl said:

Oh yay!

 

I think you might be pleasantly surprised by how much the salary packaging. I was stunned when I had it on a 6mth contact once. 

I hope so! It sounds like it will make a difference for us. I was trying to work out to do mortgage or on a card for everyday expenses but I'm thinking straight to mortgage will be easier.

Now I'm wondering if, once the balance transfer is paid off, we put the remainder of the ANZ onto another balance transfer. Might get DH to give Citibank a call, we've put several different balance transfers on this particular card and they always give us a low interest rate. If that's the case, I'll pay off the remainder of the balance transfer next week.

11 hours ago, Silverstreak said:

Now I'm wondering if, once the balance transfer is paid off, we put the remainder of the ANZ onto another balance transfer. Might get DH to give Citibank a call, we've put several different balance transfers on this particular card and they always give us a low interest rate. If that's the case, I'll pay off the remainder of the balance transfer next week.

I'm actually to scared to do a balance transfer even though I know it would work for us. I've become so invested in not applying for credit, although mostly because I want to refinance the mortgage.

Yeah I know, it can feel a bit daunting and there’s usually a fee as well. I write down the expiry dates in the diary, don’t want to get caught out when it reverts to a higher rate! 

Yeah that's a great idea! 

Had got my card down to zero but have had to move and buy new furniture.  Now at $4500 - cutting back expenditure until paid off.  A very lean few months coming up.  Hopefully I get a big tax return.