I'm a believer in Dave Ramsey's plan for debt elimination. The basic concept is also used by a number of other good sources. I've been working on this program for several years and it's working. I'm taking Michelle's challenge - posting the debt total for accountability's sake - or at least to make me feel like I've accomplished a major goal because I'm already a believer. This debt won't be staying for long though. I'm very close to being debt-free. I quit using store credit cards years ago and I've been whittling away at my last Visa for the past two years. I will be paying it off very soon now.
Balance = ta-da! $2700.
I pretty much pay as I go now and it feels good to delay gratification. My car's paid off and I'm trying to make some improvements in my house but I'm resisting RC Willey's attempts to lure me in there. Even though I only shop the scratch & dent department, things add up. I'm finding much better deals on KSL and Craig's List. It works even if it doesn't really impress anyone but me! I sleep better at night when I can pay my bills and have a little to spend besides.
My biggest challenge is in resisting travel. I really want to do it, but not on the credit card so again, I wait. It probably helps that I don't get much vacation time to get away anyway, so I work, I pay my debt, I try to save and prepare. It's OK. One day I will be in a much better situation to vacation and I'll enjoy it more if I'm not adding to the cost by paying for it for years after. Meanwhile I have plenty to keep me busy at home.
So, stay tuned. I'm hoping for a tax refund (guess I'd better get on with filing) and this may just be the end of my consumer debt. They're not collecting interest from me! I do believe in the explanation of interest - those that don't understand it pay it; those that do collect it. I'm ready to start collecting, but in the meantime, I'm not contributing to their cause.
woohoo! congrats! and like they say, "when you live like noone else, then you can live like noone else"....good luck!
ReplyDeletevacations are the hardest I think....when we go to Vegas, it's hard to be sure how much you'll need for food etc...to make sure you have the right amount in there!
RC Willey long ago announced to their employees that they are no longer a furniture company, they are a finance company. We're working with Take Charge America to pay off our debt and even though the reps there have never been to an RC Willey or seen it advertised (they call it "RC Wiley"), they know that there are few worse creditors in the country. No one else seems to compete with them for their aggressive fees, interest rates, and negative credit reporting.
ReplyDeleteResist them! Ashley Furniture seems much better, but obviously it's best to just pay cash wherever you go.
- Jon