A Lie About Credit Card Debt, Paying off $58K and Needs Vs. Wants

I’ve been pretty occupied with getting ready for our garage sale and as a result I put our finances on autopilot for a little while. That’s why I haven’t updated my net worth or our debt total yet. I cannot believe what I have been finding while going through everything. I mean, I found clothes that I purchased years ago for my son to grow into. Well, I “remembered” about them a little too late because some are now too small!

Oh, the neatest find so far? I had purchased some rolled paper from a garage sale years ago. I thought my son would love drawing on it and I could set it up so he could roll it out, draw on it and tear off his creation. Again, he was a little young at the time so it sat in a cabinet. I uncovered it, and when I opened it I found a few surprises that the previous owners must have forgotten about as well. I now have a calculator that will work great for my garage sale and I have a hockey puck with a Red Wings player on it. I’m not sure if it’s worth money (it’s from Burger King), but it was pretty neat.

I hope to have my finances updated shortly. I really have to keep the motivation going for my garage sale or it will never get done so I’m giving that priority status right now.

Anyways, here’s a few articles that caught my eye that I hope you enjoy.

JLP pointed out an article that points out a lie often portrayed in the media about credit cards. Very interesting.

Cleverdude shares how they paid off $58,000 of their debt. That’s pretty awesome!

Miel discusses needs versus wants. Besides being a good article, I love the picture of the glass they have for that post!

Have a great weekend everyone!

Posted by Tricia on August 3, 2007 at 9:50 AM in Blogging Buddies | 4 Comments »
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Clever Dude responded:
Posted: August 3rd, 2007 at 10:14 am
hey, thanks for the mention! Good luck with the hockey puck!
pj responded:
Posted: August 3rd, 2007 at 11:18 am
That’s not a lie in the statistics.

An average of 9K cc debt while the median cc debt is 2,2K, says the following:

- 50% of the population has 2,2K+ dd debt (and 50% less of course)
- A small percentage of the population has crazy levels of cc debt. They are the reason the average is so much higher than the median.
Lynnae responded:
Posted: August 3rd, 2007 at 3:15 pm
I’ve forgotten about clothes I buy ahead for my kids, too. It’s so annoying. Now I keep all the clothes I buy in one box in their closets, and I go through it before every new season starts, so I always know what we have.
Lazy Man and Money responded:
Posted: August 3rd, 2007 at 6:28 pm
I had one of those rolls of paper when I was little. It was bought at… you guessed it a yard sale. Anyway it was a good source of entertainment for me then.