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Time To Attack Our Debt Again

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For a while there, we were concentrating on beefing up our savings account. As it sits today, we now have over $3,000 in our savings account. We’ve contributed some, and we’ve also received some help from others opening ING savings accounts using our referral links (thank you!). I feel good about having that much in there. That is more than enough to get us through a month of expenses.

I’ve been reading lately about credit cards magically raising their rates. That makes me nervous, because one of the reasons given by the companies is that the card holder had too much debt. We still have a large balance on our credit card and it’s at 0% right now. If it raised, well, that would be very, very bad (to put it lightly). It’s time to get back to attacking our debt.

We’ve had some money sitting in our checking account waiting for me to figure out what to do with it. I’ve been pretty busy lately, so I set our finances on autopilot last week. I dug my nose in there today, and saw that we could pay $600 more to our credit card. Our credit card debt is now at $16,362.

I hope to be able to pay a little bit more before the end of the month, but we’ll see. I’m expecting a few checks in the mail, but I never count on them and I don’t “spend” them until I see them safely deposited into our bank account. Doing it like that keeps us out of trouble 😉

The Debt Blues, Credit Card Emergency Fund, Spending Autobiography, Diamonds and 30s Finance

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Another Friday is here and it’s time for a round-up of a few articles that caught my eye this week:

DebtKid shares how he deals with the debt blues.

We’re In Debt is wondering what you were in a tough time financially. Would you use your credit card as an emergency fund?

CleverDude had an interesting article on writing your autobiography through spending. One of my goals in the next few months is to dig up some old credit card receipts and take a look at how we spent money.

If you have bought a diamond in the last 12 years, you may want to check out MyMoneyBlog’s post on diamond class action lawsuit. We only have a small diamond in my engagement ring, and I’m pretty sure I threw out the receipt already.

Lastly, David gives some personal finance advice for your 30s. It’s part of a project for a network that he belongs to, so make sure you scroll to the bottom of the article to read the other entries.

That’s it for this week.  I’m looking forward to sticking my nose into our finances this weekend to pay some debt or beef up our savings account. So expect some updated numbers shortly 🙂