Current total debt:
- Car loan = $12,897.43
- Credit cards = $30,466.74
- Student loans = $154,346.77
- Total debt = $197,710.94
Actually, I know that there are some recent hospital bills, of which I will have to pay 20%, so this total is almost accurate. I suspect I'll get those bills in the mail by the end of the month and be able to update accordingly.
According to my calculations, I am currently paying out about $1865/month in minimum payments. Ouch. That needs to stop. My highest interest rate is a Chase card that just got raised to 29.99%, current balance is $2973.
In other news, I submitted an idea for a t-shirt I had to T-shirtHell.com and if they pick it up and sell at least 10 shirts I get $200, which would pay off my lowest balance credit card ($154.64).
Plan of attack - pay off the lowest balance first to free up an extra $15/month to apply towards the highest interest rate debt. Then focus on getting it paid off.