I am absolutely determined to pay off our credit card debt as soon as possible and to maintain a zero balance on a month to month basis( in other words use the CC for purchases but pay it off in full each month). I have discussed this with my better half (BH) and we have agreed that we both want to be in a situation where we are ahead of our purchases, rather than constantly running behind them trying to catch them up, and never quite getting there.

I did a rough calculation of how much playing this silly game cost us last year and I am still reeling from the result. We carried a balance on our CC through out the entire year, which peaked at about 5,500 EUR and never fell below 1,800 EUR. Our CC has an interest rate of 17.5%. So we paid about 600 EUR in CC interest alone last year!!!!!

To put this amount in perspective, BH and I live in a one bedroom appartment and we pay about 688 EUR a month rent, so almost an entire's months rent for nothing. We have a scrubby second hand couch and I would love to buy new couches, which if I got a very cheap new 2 seater and 3 seater set, I would be looking at about 650-700 EUR. Instead we paid 600 EUR to Mr. Visa for nothing.

Oh, I do beg your pardon, the 600 EURs was not paid for nothing, it brought us the comfort of not having to be patient as we got some things we wanted quicker because we could buy them on credit, BUT it has delayed the purchase of my couches! It has cost us the peace of mind we would have if we had an extra month's rent sitting in the bank, plus interest!

So this year, I refuse to be impatient. Ths year I am going to pay off Mr. Visa and when I can afford it, we are going to get my couches and build our savings and laugh in the face of Mr. Visa and the oxymoron which is CREDIT card DEBT.