good and bad and ugly
After calculating my net worth this month, I’ve got a few good things, and a few bad ones. First the bad: I had to spend a lot on gas this month because it’s the holiday season and I’m traveling more. Also, energy costs were a little high. I don’t even want to talk about how I’ve been relying on using credit cards and paying off at the end of the month. That is so dangerous! But I am paying off my credit cards each time I get a paycheck with one exception. I’m allowing myself to leave $200 worth of Christmas presents on credit, to be paid back by the end of January 2008. The rest of the bad news is it doesn’t look like I’ll pay my loan off by December 31st. Oh - and I’m broke with almost two weeks until payday.
The good news is, I’ve started to withhold money for a 401K. I’ve been putting away a little bit of money into my saving account automatically (though I was tempted to use it to pay off my old credit card debt, like I’d been doing over the past several months). And I was able to pay off over half of my remaining old credit card debt this month.
I might be cutting it too close with the credit card usage to get by so I can use my available cash to kill debt. I know I’m not right for doing that. I’m not scared, though. I will continue to pay my cards off continually.
I’m just getting tired, though. I’ll call it self-enforced-poverty-fatigue. I want to eat out. I want to buy clothes. I want to buy expensive presents. This last 2,000 is the most difficult to pay off. The temptation to abandon aggressive payments is getting worse and worse. I almost seriously considered making the minimum payment so that I could keep some cash for myself this month. I wanted to spend money on eating out tonight just for the sake of spending the money. This, dear reader, is trial by fire. I’m hanging on.
Hang in there! You’re almost at the finish line and you’ll feel great once you cross it.
You’re absolutely right!
Comment by GeckoGirl — November 27, 2007 @ 11:09 am
You can do this! It’s just that you’re doing the second-hardest part of debt reduction at the worst time ever: the holidays
Hang on girl, you got this.
I realized that if it were April, I wouldn’t have so much temptation in this, my final stretch. I’m going to keep trying.
Comment by Msminiducky — November 27, 2007 @ 12:34 pm
I SSOOOOO understand how you are feeling. I went to the movies this past weekend with my sister (her treat) and I still think about it now with glee. To be out and having fun seems so novel now. But, I keep thinking of the big picture. The last 2000 will be gone soon enough. Just think of the shopping you can do next season, once your debt is gone. It will be much more enjoyable.
You’re right, it will be gone. It’s actually $1,250 today, but I’ve been feeling like griping ever since 2,600. It just feels like it’s going in slow motion. Patience would help a lot right now.
Comment by Rhonalala — November 27, 2007 @ 1:18 pm
wow $1250 now??? you’re doing great! maybe give yourself a little treat so that the temptation will stop nagging you?
Comment by Dream — November 27, 2007 @ 2:05 pm
I read your networthiq. I want you to consider an idea: instead of the damn banks taking your money, you take theirs! When you have some cash reserve, you will actually make interest off of it!
Things will improve and your doing great. You should reward yourself when you finish up the credit cards. Nothing too big
Comment by russ — November 27, 2007 @ 2:55 pm
You are doing great! Keep up the good work! How about treating yourself to something small to help you maintain your progress on the wagon?
Comment by c2a — November 27, 2007 @ 7:00 pm
Don’t give up yet… You’re too close. Get that CC paid off and then spend the whole month eating out. LOL! Congratulations on your 401k btw. You’re that much closer to retiring at a relatively young age.
Many thanks to all of you for your encouragement!
Comment by Constance — November 28, 2007 @ 12:43 am