After some soul searching, and too many months of procrastination, I started to make some real moves on the debt. Last month I wrote,
Before my next update I am going to take some drastic measures to attack this debt.
It felt disengenious at best to keep $X amount in a non-qualified investments while carrying some/any shitty Credit Card Debt. So what I did was I took the balance of one credit card and put it directly into the margin of my Non-Qualified Debt. Instead of tracking how much I pay down I have decided to just let the money selling puts automatically pay down the debt. In addition to the small little put sales I have started selling OTM covered calls. At some point these covered calls will get fulfilled and will just wipe out the debt.
While this may just seem like an accounting item (shifting from chase to charles schwab) it is very different. First, I can’t screw up applying the proceeds to the debt (there is always some type of slippage). Second, I am comfortable with the idea of my covered calls being filled and then the debt would all be gone just in one shot.
This month I am at 83% of my goal erradication goal.
