Loc Nots

Debt . . .

is normal. Be weird. -Dave Ramsey

is the DEVIL. –iamkamilah

can turn a free, happy person into a bitter human being.-Michael Mihalik

 

PRAISE GOD I AM CREDIT CARD DEBT FREE! 

She (pic above) no longer represents me.  She looks overwhelmed and she looks like she has no control over her life.  But she still does look fly!  But, she is burdened by money she never had to spend.  A plastic card ran her life!  That’s so stupid,  maybe we are just too greedy? Maybe we are trying to be someone we are not.  Are we trying to keep up with the Joneses? When we look back at what we spent the money on, was it worth it? We need to reflect on our actions and those things that landed us where we are now; living from paycheck to paycheck, so consumed by dumb debt that we can’t live our lives to its fullest!

But there is great news!  We all can become debt free.  As of yesterday, I have no credit card debt! I hear angels singing. 

I’ve saved money since April for this.  And 6 months later, I was able to completely eliminate my credit card debt.  I had the money set aside to pay it off, but the cheap and stupid part of me was like just pay monthly until you pay the entire balance off. So I’ve been kinda doing that, and telling myself that I’ll pay it off during the New Year.  But today while watching some debt free videos on YT I decided to take the hit and do it today. Well it’s not a bad, hurtful hit because in the end I’m not bruised but healed. 

I’m am also going to try to live as cheap as possible.  Two things I can do to save money are

  • downgrade my phone service
  • create and stick to an entertainment monthly budget (eating out, movies, comedy shows, etc.)

I’m also looking to get another part time or just one higher paid job. Did I tell you all I got a new job? I’m a Professor at a college, I teach Medical Law and Ethics.  It’s just one day a week but it’s a great resume builder and it’s extra income.   

It’s a burden to owe anyone anything.  I can’t stand BofA and Mastercard.  lol! But I must take the blame for letting my debt get so outrageous.  I have these crazy credit card spurts.  I pay my credit card balances off and then I reuse them and my balance gets so big that I can’t pay them off in one payment, so I get stuck in the endless whirlwind of minimum monthly payments.  That’s for the birds.  If you can’t pay more than the minimum you shouldn’t have credit cards.  It’s the truth, you’ll thank me later. 

 So I am ending this crazy cycle.  If I can’t pay off the balance immediately, I aint using it.  And I’m getting older.  I thank God for growth because my mindset today is nowhere similiar to what it was during my college years.  Today I’m thinking about saving for a house, saving for my future childrens’ education, retirement, etc.  When I decided to start saving to pay my credit card debt, I direct deposited 50% of my check into my savings.  Yes a bit drastic but it really helped me budget.  I would suggest that you put the most you can into your savings with your end goal in mind.  I knew I wanted to pay off my credit card and putting half of my check helped me pay off my card and still have a chunk in my savings account.  Do the numbers, be wise and realistic, and stick to it until you reach your goal.  In the end it builds great skills sets and you may pick up a great habit.   

What are some ways you’ve gotten out of debt or what are some things you are currently doing to get out of debt?

Advertisements

4 thoughts on “Debt . . .

  1. Congrats Lady! Thats big. Its not your fault though, we live in a culture of debt. For each quote you had against debt there are about one hundred others out there telling you why having credit card debt is a good thing. All throughout college and grad school everybody questioned why I never had a credit card and told me I needed it to “build good credit history.” I believe they were just repeating what they were being told by others. Now, years down the road, the same people are telling me I played it smart back then and to stay away from credit cards. Go figure.

    1. Thanks locsmith! cute name. i can’t believe you thought i was going to die with debt. wowzer! one of my major regrets was getting a credit card during college. if you can survive college without a credit card, you can definitely make it throughout life without one. thanks!

  2. Ok so I must say that I love love love your blog!!! Girl being debt free is so renewing. I know the feeling. Keep it up. It feels so good to pay cash.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s