In January my credit card debt was maxed out at an all-time high of $30,340 on one card. How can someone still in school (grad school) with no assets or collateral be given a limit of over $30,000? That’s a good question. Someone should call Citibank and ask them.

As of March 16, my current credit card debt now stands at $24,998.  I’ve been throwing all the money I make from selling my stuff at the balance as well. Now that I now longer have to subsidize the rent on my old apartment, I should be able to really throw everything at this debt. It feels as though the debt is being reduced so slowly. With a balance this high and a 19.99 interest rate* I’m paying over $500 per month in interest alone. As I get more principal paid down, my interest paid will be lower each month as well. More and more money will go to principal and my debt snowball will be at full speed.

*I’ve never been late or missed a payment in all these years. My rate is so high because just before the Obama Administration passed the Credit CARD Act, banking institutions everywhere jacked up interest rates preemptively.  Those of us with high balances who could not pay them off or move them elsewhere were stuck with these inflated rates. Not that missing a payment means much to me now. I’m done being a good little profit center, making minimum payments and making rich people richer.

I got my annual reminder that my Amazon Prime account was going to automatically renew. The old me would have approved it, but the ‘Get Out of Debt’ me quickly blocked it. I used to buy something from Amazon once or twice a week, but this year I’ve only bought a few things that I needed like ink and paper for my printer.

My second job starts next week. I’ll keep you updated and let you know how it goes.

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“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW)