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Thoughts on Increasing Debt

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Hi all! Sorry for the long hiatus! I’ve missed this site and am glad to announce that I’ll be staying and continuing to blog here under our new blog ownership! Hope you haven’t gotten sick of me yet! 😉

It’s been awhile! I plan to do a little “coffee chat” update post soon. But I wanted to jump right back in to talk about some of the things I noticed while we’ve been moving in the wrong direction with our debt. The summer months were rough on our budget and our finances. It was the first time in my 3+ years of blogging here that we’ve gone in the WRONG direction with our debt. Yep, it’s increased.

I’ll be posting some numbers soon. A whole “starting over” series to come. But in the meantime, I wanted to share some thoughts I’ve had these past couple months as our debt has started to slip the wrong direction.

  1. I’ve never seen so many credit card offers in my life. It’s smart, I guess. But it appears that all the credit agencies in the world were tipped off (or following credit reports) and have pounced the second that they realized we’ve accumulated a little bit of debt (meaning, we’re now paying interest to credit card entities instead of paying cards off in full at the end of the month). Seeing the opportunity to make some cash, every company and their mother has been sending me mailers with credit card offers. Kind of creepy, really. And sneaky, too.
  2. “Don’t forget about us” cards. My rarely used/unusued credit cards started showing up in the mail, too. They were sent along with different credit offers, cash advance checks, etc. The new cards were sent even though the old ones haven’t expired. It feels a little predatory, in my opinion.

Source

These credit-lending places sure JUMP at the chance to capitalize on our increasing debt load! They’ve got a business to run and all, but it sure feels a little grimy. Leaves a bit of a dirty taste in my mouth.

Meanwhile, we haven’t had a penny of credit card debt in over 3 years (since we paid off the Bank of America card back in June 2014). Here we are, now September 2017. We have a significantly higher household income than we did back in 2014; back when I swore we would absolutely never ever go back into credit card debt again.

How did this happen? How did we get here?

It’s all a little overwhelming. It’s also frustrating and disappointing. But here we are.

I’m not a quitter. I don’t plan to give up. Instead, I think this little detour just goest to show that not everyone’s debt-eradication path is in a straight line. We’re fighting the good fight and it’s full of curves, ups and downs, unexpected issues, etc. We’re normal.

I hope you’ll stick around and continue to cheer me on as I dig deep and re-commit to finally – once and for all – getting out of debt for good!!!

 

PS: Stay safe out there for all affected by the horrific storms/earthquakes/etc impacting our world right now!


I Need Advice

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First I would like to say thank you for all the wonderful comments on my last post. I read each and every one several times, trying to get them to sink into my head. I appreciate them.

Now, some wonderful news, I sold the tablet I listed, and I got what I was asking for it! I had to drive 45 minutes each way to meet the person who bought it at the Verizon store, but I figured the gas was worth it. I have lowered the cell phone bill to around $320 a month. I also sold some of the clothes that were too small for my daughters at Once Upon A Child and made $60. I had several other things for sale on the yard sale pages and sold them also. When all is said and done, we now have $500 towards an emergency fund. Only $500 more to go!

I do admit I have a spending problem. That is how I got into this mess. I am working hard with my therapist however I would love some tips and suggestions on how to stop the madness. I have a this coupon is wonderful I have to go use it syndrome, and a let’s see what is at goodwill today problem. I really have battles that go on inside over this. An example, when I sold the clothes this weekend, I went and spent $30 on more clothes for my girls at goodwill. Now granted, they needed the pants; however it’s still kind of warm here and it could have waited a few weeks. How do I stop?

We now have a full pantry, and each have enough gas to last the rest of the week, and still have $60 left in the bank. In fact, I have enough groceries that I think I will be able to lower the food budget for a few weeks, as I have plenty of meat in the freezer. My husband got some overtime that will be in this week’s check that we think will have along with the overtime, another $100 extra from the quarterly bonus that his employer gives. I earned almost 4 hours of overtime myself last week. I also applied with Amazon at home customer service job. It pays $12 an hour. I have applied with them 3 times before with no luck, I am hoping this time I get hired.

I am also toying around with finishing my college education. I have been going to college on and off now for 25+ years, and have no degree to show for it. I have about 10 classes to completion. I have not committed to it yet, but I have applied for financial aid to see where I stand, and even if I don’t get it, my employer does reimburse for classes. I want to go and finish really bad, but right now, I am stressed with our money situation, and don’t know how I would do with the classes. On the flip side, I work better under stress and deadlines, and with the education I would be considered for higher pay at work. I’m torn.

I also need advice on my Aflac. I am spending $55.14 every two weeks for an accident and cancer policy. I thought about canceling it, however Wren commented on my last post, and made a good point. What if something happens? We have nothing prepared for an emergency and the insurance payments would help. But on the flip side, that $110 a month could help our budget now. What should I do?

I know I can do this, and thanks for your help.

 


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