0% Credit Card Paid Off!
I know it’s a bit early, but we’ve paid off our 0% credit card. We got to the point where the additional interest we would earn by having the money sitting in a savings account became negligible, so we just paid it off. We used this card to put carpet in our recently finished basement so it’s not like the money spent on it was spent frivolously. The value of our house looks to be holding up well and I think every penny we spent doing the basement finishing ourselves can be added to the value of the house.
So financial goal #1 for 2008 is complete. Next comes paying off our remaining car loan, which should happen in July. However, I’m considering using another 0% credit card offer and moving the car loan (and possibly student loan) to it now and then paying them off at the end of the year. There is a $75 charge for the cash advance but we’ll save far more than that by not paying interest on the loans anymore.