I was revamping our budget tonight (more on that later) and decided to update all our accounts. We have recently dropped under $20,000 in "bad" debt! I am so excited. Our current total is $19,953.12. Not too far under $20K, but still.
Now I know this is still A LOT of debt to be in. Considering that in October 2006 we peaked at $38,440 in credit card debt, I am really really proud of us. We've come a long way in less than a year. It's very encouraging to know that despite some recent regressions, we're still making headway. I still plan on making one more payment in August as well.
Based on our current numbers and the new budget, we will be credit card debt free in March 2008. I am a little disappointed that we had to adjust our original goal of becoming debt free by the end of 2007. However, I know that in the long run 3 months will make little difference.