So that $7000 credit card debt @ 4.99% is going to get hit first. Actually I have 2 payments this month going in. Today, I paid $275 and next Monday will see another $1000 go in. Where did that extra dollars come from? My older daughter goes to a private school (we do get some financial aid here) and we pay on monthly installments. It is automatically deducted from a separate bank account that gets money directly from my paycheck. Well, the payment for this year are done, and we had $1100 left over. I decided to put that money towards the credit card debt.
Actually, since we don't pay over the summer as well, I hope to put another $800 towards the debt in August. That should leave the first debt in our snowball down to $4250 before September, if all goes as planned. By August of next year, the first debt in out Debt Snowball will be payed off as planned.