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April 2009 debt update

curtis — 16 April 2009 - 11:02am

Well, I did my last debt update in January, and like political candidate who has gained his targeted office, have been promising to do another one each month since then. Now, I'm ready to make good on my promise.

Here's the rundown for the last three months:

February

Feb. 2009 debt update

March

March 2009 debt update

April

April 2009 debt update

As you can see, there's been quite a bit of movement in my credit card balances, which is one of the reasons I've been somewhat hesitant to post an update (I know, I know; excuses, excuses). There are two primary reasons for this movement, and a couple other minor explanations:

  • My daughter started going to a new daycare in January, which I pay automatically on a weekly basis to my Discover card. Because of how the statement cycles worked, I got hit with close to $3,000 in February all at once. Fortunately, I can get a good portion of daycare expenses reimbursed through an employer program and my dependent care savings account, but those programs both take a little while to get money from.
  • I've been working to pay down the last vestiges of my long-term credit card debt. I paid off a large chunk of it in March using funds that I had been saving in my high-yield (which isn't very high yielding at the moment...) savings account. It felt good to see the credit card balance decrease; not quite as pleasant was the reciprocal decrease in my savings balance.
  • I have been making some various repairs on my home and car, which add up to a couple hundred dollars (though, still less than they would normally cost)
  • Since my wife and I split up late last year, I have had some increased travel costs with gas and thruway tolls to pick up and visit my daughters. By way of note, I've largely ditched my Citi Driver's Edge card and have started using the Amex SimplyCash Business card, which gives 5% back for gas purchases.

So, after saying all of that, pretty much all of my current credit card balances consist of (in highest-to-lowest ratio order) daycare expenses, home/car repair, food and gas. I did buy a new 4-volume set of Ludwig von Mises' classic economics treatise, Human Action (affiliate link), but that is a small fraction of my current balance.

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Similar

  • January 2009 debt update
  • December 2008 debt update
  • Ah, the catharsis of paying off large swaths of debt
  • Debt Update - Oct. 2007
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