OPERATION CHRISTMAS CHILD 2012

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Re-Visiting "The Stupid Credit Card Debt"

Around this time last month, I updated my Credit Card debt.  At that time, our debt was $13,055.68.  Since my layoff in August, it was evident that we were still charging a few things here and there.  Some of the items were for home improvement to update our new home.  Curiously, many of the charges were what I would call "entitlement" purchases.

 I would rationalize to myself that since I was working sooo hard, it just makes sense to eat out. Who wants to come home after a hard day at work and cook??  Obviously, not me!  And it was not just eating out that was part of the problem.   There was also  some random shopping that was going on.... You know... Target... Ross.....  more entitlement for me.  Certainly stuff that I did not need.  Ask me what I bought!  I could not even tell ya what most of the stuff was. 


Since my layoff, I have become acutely aware of where the money is going.  We have been using cash.  For practically everything.  True confessions... I still use my debit card, but not often.  And when I do use the debit card, I feel a little guilty.    Money can be so complicated, can't it? 


August 22, 2011   11,600.00  Credit Card #1

 October 20,2011   13,055.68  Credit Card #1

November 16,2011 12,124.00 Credit Card #1 

As of today, you can see our credit card debt total.  $12,124.00 

A reduction of 931.68 compared to this time last month.   Here is to an uneventful month financially.  ~~That means Mr. Murphy... you need to stay out of our business!!

 


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23 comments:

Jane said...

Oh those damn sneaky ol' credit cards! I still use my debit card as I can keep track of my spending better. When I take out cash I can't remember what I used it for, but it disappears, so I take out more!

Shaun @ Money Cactus said...

Credit cards can be tricky, they are so convenient! Great to see you are getting that debt down, I hope you can continue to blast away as much as you have been over the last month.

Miss T @ Prairie Eco-Thrifter said...

Agreed. I had mine own issues with them when I was younger and didn't use them responsibly. Now we use them for all of our expenses to get points but we always pay them back in full every month. Glad you are making some good progress.

Cash Flow Mantra said...

That looks like some decent progress. Probably better than I could claim.

Carla said...

Cash only definitely helps keep you on the straight n' narrow!! For us if we don't have the cash, we don't buy it. Simple. lol!

The Single Saver said...

You are going in the right direction now, at least. Keep going in that direction and everything will be just fine. Money really is complicated. :)

The Saved Quarter said...

You're definitely moving in the right direction. I know what you mean about entitlement spending. I don't want to say no to fun things! I want to just go to the store and pick out the pretty things without thinking about the cost. It's just not realistic on my budget.

It has helped me to have a cash-only budget. I can't overspend - if there is $20 in my envelope, I can't spend $30. I have a debit card, but it doesn't live in my wallet so I can't go overboard at Target. It's a downfall for me, too!

Maria said...

Well done! This is one serious reduction - keep going and it will be gone in no time.

Frugal Toad said...

Great progress Lisa! You should be really pleased with that. Keep up the good work and I'll be around to cheer you on!

Sharon said...

I'll always believe that cash is the way to go, however, the cash back bonuses our two credit cards are really nice, and have come in handy at Christmas (to help with the expenses). However, I will be back to cash in January, because it is just too stressful to try and keep up with the cc spending.

Great job with lowering your bill by almost $1,000!

Doctor Stock said...

I really feel for you... I'm wondering if there is an alternative to the credit card debt, unless the rate is super low... I don't recall seeing the rate.

CentsToSave said...

That is too funny Jane! Cash can do a disappearing act!

CentsToSave said...

Thanks Miss T, Hoping to continue the progress next month too!

CentsToSave said...

Thank you Shaun! Hoping for more whittling away of the debt in December!

CentsToSave said...

It was a good month for us, hoping to do as well in December!

CentsToSave said...

Cash and carry, so simple Carla. And it works!

CentsToSave said...

Thanks Denise!

CentsToSave said...

Thank you Maria!

CentsToSave said...

I appreciate that! it will keep me honest!

CentsToSave said...

I agree with ya on keeping up with the rewards credit cards... it can definitely stress you out!

CentsToSave said...

This card does not have have the best rate, 13%. I probably do better.

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Marissa said...

I am glad to see the reduction, credit card debt has a way of creeping up. I have a really had habit of charging everything on the credit card without looking at the balance and being in the hole at the end of them month.

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