Debt!

Debt! Specifically, credit card debt. We all have it (well most of us). Nobody wants it. At least I sure don't! So it suddently dawned on me that I have quite a bit of credit card debt (after adding up multiple balances) -- so I'm trying to get rid of it now. The main issue? As a guy, I'm expected to pay for everything. And that occasionally means I spend more in a month than I earn. And if there are a few months like that in a row, it starts to snowball. And I'm deep in snow. About $5815.64 worth. So how to tackle it?

First , obviously, I'm trying to limit expenses so I can avoid putting more on my two credit cards. I canceled some magazine subscriptions for things I don't really care about. I'm trying not to go out for dinner/drinks as much (like everyone else in this economy, I guess). I returned a few pairs of unused shoes I ordered online (Zappos has a very gracious return policy).

Second, I called Citibank and asked them to lower my interest rate. They lowered my rate 3 percentage points from 18% to 15%. My other credit card is at HSBC (also at 15%). I'm going to try to talk them down next.

Third, I'm trying to chip away at the amount owed each month by $200-300, with the idea that I'll get rid of the rest at the end of the year if I get a bonus.

Fourth, I checked and I had enough reward points to get some cash rewards (about $400). So instead of saving up miles for a free trip, or some trinkets, I'll apply the cash rewards to my balance owing.

I'll track progress here for the rest of the year.