Comments on: It’s Sinking In…

By: Adam

Adam — Wed, 01 Apr 2009 13:23:49 +0000

Congrats on your journey! I used to read your blog a few years ago when I was paying off my debt and writing my blog. It was helpful to read yours as well as other peoples experiences. Welcome to the club!!

By: Colleen in MA

Colleen in MA — Mon, 30 Mar 2009 18:45:55 +0000

i love that story! empowerment!

By: My Life ROI

My Life ROI — Mon, 30 Mar 2009 16:16:39 +0000

Haha… that is awesome.

The expectation that 99% of people have no way to pay off their debt if something happened (job loss, illness) is surreal to me.

Emergency Fund – 1
Credit Card – 0

By: Danielle

Danielle — Sun, 29 Mar 2009 14:42:44 +0000

I had a similar experience recently when I was trying to add my husband to my credit cards to get him a credit score. The woman on the other line could not believe that he had never borrowed money for anything. She said, “Hasn’t he ever HAD A CAR?” I said, yes, we’ve bought cars, but we paid cash for them. She was shocked.

By: jill

jill — Sun, 29 Mar 2009 07:32:59 +0000

That’s hillarious. I was half afraid of the rep’s comeback to your answer.

By: The Mommys Place

The Mommys Place — Sun, 29 Mar 2009 00:15:05 +0000

That is an awesome post, I look forward to the day when my emergency fund is completely funded. I am just tickled pink at your reply, way to go.

By: Aspiration's Purse

Aspiration's Purse — Fri, 27 Mar 2009 20:35:12 +0000

Haha cute post. “Umm…my emergency fund” *silence*

By: Monkey Mama

Monkey Mama — Fri, 27 Mar 2009 20:28:09 +0000

I’d hang up on them. I prefer not to hang up on people, but none of their damn business – they can be so freaking annoying. When you tell them no 5 times, and they go on and on, I hang up.

That being said – that was priceless. My parents have been mortgage free for a few years and haven’t had any other debts since their 20s probably. My mom often gets phone calls about “consolidating her debts.” She always says, “I don’t have any.” Which usually leaves the caller speechless. Teehee!

By: Trish

Trish — Fri, 27 Mar 2009 19:48:26 +0000

Aww that story made me smile

By: sara

sara — Fri, 27 Mar 2009 19:43:09 +0000

My husband is such a sucker for those sales pitches! I have to admit that we do have the payment protection program on our 2 main cards and it has proved its worth since I have been out on maternity leave. It canceled our monthly payments and deferred interest charges.

By: Kevin

Kevin — Fri, 27 Mar 2009 19:30:11 +0000

Another thing about these security plans they offer. If you do the math, you find that they would add about another 1/3rd to 1/4 of the monthly payment.

So my response to them when they ask this is always to tell them, well, I can save the extra 1/3rd and 1/4th of the payment that would be tacked on extra, and use it to make payments should I become unemployed. They really don’t know how to deal with that one.

By: paisley penguin

paisley penguin — Fri, 27 Mar 2009 18:17:53 +0000

That is so awesome!

By: Karen

Karen — Fri, 27 Mar 2009 16:22:25 +0000

I LOVE IT! Your post made my day!

By: Corporate Barbarian

Corporate Barbarian — Fri, 27 Mar 2009 16:16:22 +0000

That was quick thinking. I bet it felt good to say it. Good for you! I’ll have to keep that one in mind for the future.

By: Jen

Jen — Fri, 27 Mar 2009 13:23:23 +0000

Very cool!

It’ll be interesting if a few years after paying off your credit cards if you get the same pitch when you activate a new one. I’ve been debt free for nearly 10 years (excluding my mortgage), and when I call to activate I don’t get a hard sell on the payment protection plans. In fact, I don’t even remember what they try to sell me… I just say no once to whatever they’re selling and the call is done.

I wouldn’t be surprised if they flag different accounts for different sales pitches based on your payment history, whether you carry a balance, etc.

I’m just curious, though, after the surrealism wore off did you feel more powerful, or in control of your life?

By: cheryl

cheryl — Fri, 27 Mar 2009 12:57:29 +0000

Good for you!! I just had to activate a new card to replace an expired one yesterday and I fortunately got an automated message trying to sell me everything else.

So glad to know though what puts those people in their place.

By: Beth

Beth — Fri, 27 Mar 2009 12:34:14 +0000

Nice response! That’s very sneaky about using the “if you lose your job” contingency in today’s economy. I love not needing those kind of products or services.

You know you’ve reached a certain level of financial freedom when you can laugh at the scare tactics

By: Wojciech @ Fiscal Fizzle

Wojciech @ Fiscal Fizzle — Fri, 27 Mar 2009 11:37:17 +0000

That must be an awesome feeling after such a long journey! Congratulations.

The rep’s response to your quick-thinking outburst is so telling! So many of us have nothing to fall back on if we lose our jobs; I bet she had never heard anyone say anything like that before, even though it’s common financial advice to set up an emergency fund.

Way to stick it to the credit card!

By: Kim

Kim — Fri, 27 Mar 2009 11:22:16 +0000

Way to go and Congrats!

By: CanadianKate

CanadianKate — Fri, 27 Mar 2009 10:02:37 +0000

“I can definitely understand why some people who have paid off their debt call into a radio show to yell that they are debt free.”

I expect to see some serious yelling, and balloons and confetti here when that happens.

And I’m pleased you are not using your emergency fund to declare yourself rid of your credit card debt. That shows me that you see it as a separate tool from you credit card and that is good. Just as your mortgage and student loans are separate, so is the emergency fund. The only difference is we expect it to grow (along with your savings accounts in the years down the road) while your loans decrease until you are at the point where you are truly debt free.