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Gamecock's not-so-quick-check in

August 23rd, 2008 at 01:07 am

Hey guys,
I'm not back-back, but I stopped in for an hour or so to read some blogs and write some sad news. (It's not terribly sad, just some regression for me.)
First, I read some of ya'll latest entries and I feel I have missed so much! I am looking forward to having internet again.
Second...ugh. I dont like saying it. I dont like it. But I have been thinking about it the last 2 days...(I even wrote a hypothetical 'dear Suze' letter-just to step back from the situation and try to see it from amore logical perspective.)...I think I am taking money out of the house savings fund to pay off the danm credit card. It jumps from 0% to 20% in a few days, it's at $2400 right now...and since the summers over I wont be able to make huge payments on it anymore. I starter out in late June with a $5600 balance, and now its at $2400. That's $3200 I was able to chip away at in 2 months...I guess a good consolation victory there.
House fund is at almost $38,000...I will bring it to about $36,000- still a good chunk of change- but it feels like a major blow. I tried to calculate a debt repayment plan to myself, but to get that 2400 back, I need to pay myself $200 amonth FOR A YEAR. $200 a month is doable...for a freakin year??!! Seems like forever just to get back to where I am right now. Sigh. But I made the bad...time to lay in it. And once I have paid off the card IN FULL NEXT WEEK...it's going in the freezer.
You know...I think I'm upset because I feel I am taking the easy route. Just taking $$ from savings to pay the debt. Then its gone and there is little consequence/little lost. It seems a cheap victory. I wanted to pay it down through patience, discipline and taste the satisfaction of making the final payment. But I ran out of time. I bought 2 pairs of jeans that I shouldnt have. I ate out to much. And I know better than to pay 20% intrest.
And just a quick note...still tracking expenses...we spend a hella lot more money than I thought we did...this has been the best financial excercise ever! I'll show the ugly rundown when I have steady internet again. I am worried about being able to track expenses come September because Baseball boy and I will be back in FL and we wont see each other nearly as much as we do now. He's not on board with the tracking expenses- I think he thinks I will yell at him or give him a guilt trip over every purchase- so I have been tracking his expenses because we share a car and therefore when he buys, I am right there with him. Thats it, I'm off now to read more of your blogs. The apartment complex pool has internet connection, so I'm out here enjoying the evening for a few hours.

8 Responses to “Gamecock's not-so-quick-check in”

  1. sillyoleme Says:
    1219456305

    Glad to hear from you! And I think paying off the credit card sounds like a good decision. You never know, you could land a few windfalls and be able to build your house fund back up faster than you anticipate!

  2. merch Says:
    1219456417

    Just a thought. If he isn't incline to give you receipts, give him like a weekly allowance. In other words, after you and him agree in the budget, you might have a line item called Baseball boy's blow money. And you give him that money and you don't need receipts. he can blow it on whatever.

    Me and my wife each have our own blow money that we can do what we want with. Just a thought.

    Good luck!!! And I like the idea of getting rid of your CC even if you dip into the house fund. Keep squeezing the budget and I bet that you'll have that money back a lot quicker then 12 months.

    It's amazing how money materializes when you are on a budget.

  3. boomeyers Says:
    1219459394

    I don't think you have a choice but to pay off the sons of guns, otherwise you would be giving free money to the devil card company. How is Texas?

  4. baselle Says:
    1219464398

    Paying off the credit card these days is a better choice. Good for you for making it! Compare your cc interest rate with a CD interest rate (nothing would pay 20%!) and while you think you are backsliding, you are actually plugging up a big cash leak.

  5. fern Says:
    1219493680

    I think you are smart to pay off that CC debt now, becus at 20% it will balloon quickly and get out of control. You gotta do what you gotta do.

  6. Broken Arrow Says:
    1219498798

    For 20% interest, I wouldn't care how I get rid of the thing. I'd just be glad that to get rid of it!

  7. Ima saver Says:
    1219500155

    I agree, just pay it off!!

  8. Personal Finance Student Says:
    1219505638

    I agree with the others, pay it off and be grateful you have the money to do it! You won't be taking THAT much out of your home fund and since it's going to bother you, you'll probably find yourself building it back up really fast. Good luck!

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