We all know how New Year’s resolutions work out for most people. Everyone starts gung-ho and by the end of January all resolve has been thrown out the window. But getting my credit card debt paid down is a resolution that I HAVE to keep this year; otherwise, I’m going to be in really deep *&$@ if I continue down the path I’m on. You see, I added up all of my credit card debt a few days ago and was shocked at the grand total: $24,706.46. Holy crap!! I knew it was bad, but I had no idea it was that bad! So my hope is that working on this blog will keep me motivated. And you, dear reader, will be able to watch as my debt shrinks. I plan to share my struggles and victories, the ideas that I come up with to save a dollar, as well as post tallies of my debt as I work through my plan. Here are some rules I’m setting out for myself:
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Pay at least $1000 toward my debt per month.
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Cut all unnecessary spending (I’m not going to totally deprive myself, but I will cut out vacations, clothes shopping, most dining out and other things that I think I “have to have”).
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Search for creative ways to make or save money (sell stuff on eBay, participate in focus groups, do some freelance work, etc.).
2 responses so far ↓
Drew Carey // January 7, 2008 at 3:20 am
Ha, ha. Yes, Drew Carey is leaving a comment on this blog. He doesn’t have any money problems with his new Price is Right gig. I wish I could sell all those comments about my name–my own credit card hell would be paid off in a month!
Back to the blog–good for you! First off, it is so brave of you to share your total CC debt with the blogosphere! I get flushed every time I say mine out loud. For the record….hold on, I have to go to my Excel spreadsheet. Okay, last June 2007, it was $18,297.30. Probably by now, it’s down to $18,296.16. Good or bad, I can’t spend on any of my credit cards, just my debit card. Which is bad enough.
So there, I am on record too. I am with you. I am going to resolve to change my spending habits this year. I will gladly trade savings tips and tricks with you and everyone else.
To my benefit, I have my partner Reed helping me with my finances. For the few times that I have a momentary twinge of resentment towards him (god love him, just this very second he said to me (his desk is behind mine in our home office), “Honey, you had a check for $25 clear on Dec. 31. Do you know what that was for?” “Church check.” Anyway, when I get a little testy, I just remember that I got myself into this mess and he is just doing what he can to help me. He must be working on my finances now. “What’s Guide One again?” “Car insurance payment.” I am truly so grateful to have Reed in my life, the yin to my yang and all that crap (or is it the yang to my yin??). The financial sane one to my demonic spending freak.
So part of my new life with Reed at the financial helm is $50 a week allowance for all dining out, entertainment–anything besides gas and groceries, for which I can use my debit card. So far, it’s working out okay. I have had a few online urges to spend–like these cute chafing dishes from target.com which I found on sale this weekend at Macy’s for $9.99 each (and I spent $14.99). But I am getting better about taking my lunch to work most days (most of my money gets spent on food and eating out). And my new thing is to buy frozen pre-cooked peeled shrimp, put it in a container and by lunchtime it will be dethawed. 0 grams of fat and 17 grams of protein. Besides spending, my other compulsion (or is it an obsession??) is eating. Based on what you know about me so far in this blog comment, can anyone tell me if I am yin or yang?? I know, I know…sometimes I am yin and sometimes I am yang.
Okay, my final thought for this comment: get your Five Buck Club card from Kerasotes Theatres so you can see movies that are about two weeks old for $5 any time of day. We just saw Charlie Wilson’s War at Glendale yesterday and you know, it was one I had no interest in seeing but I really liked it. Definitely a political drama but I am getting more into those–another great movie is The Kingdom, in the same vein. And one more recommendation, then I am really done. Get on iTunes and search for Rachel Maddow. She has a radio show on Air America that is just superb. Funny, intellectual, progressive, balanced.
I’ll keep you posted on my progress too paying down my debt. Keep strong, girl!
Drew
Credit Card Hell Girl // January 7, 2008 at 7:42 pm
Thanks for the ideas, Drew!