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Credit cards

September 29th, 2015 at 07:29 am

I decided to borrow from the college fund to pay off four credit cards with outstanding balances. I'm cancelling automatic withdrawals for auto,homeowners and umbrella insurance policies. I seem to forget to include them in the budget and at the end of the month I find myself scrambling to pay them in full. Just not working for me. Credit Card usage will be at a minimum if we want to save 60% of our salaries. I should be able to replenish the college fund by December. We only have one outstanding balance at 0% for 14 months. We plan to pay it off by then.

3 Responses to “Credit cards”

  1. creditcardfree Says:

    Sometimes it does just feel better to pay them off when the cash is just sitting there. Nice job!

  2. FrugalTexan75 Says:

    Good job!

  3. snafu Says:

    Since you are looking at changing automatic insurance payments, would it be more cost efficient to carry vehicle,homeowner and umbrella policies via one carrier generating a multi policy discount? Is the deductible appropriate to your financial circumstances? Are premiums competitive with other carriers? Is the coverage adequate for value of properties [house, vehicles, personal effects]?

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