Friday, January 16, 2009

My CC debt is under 40k!

All my payments hit today and I updated my progress bars. I was pleasantly surprised to see that my total credit card debt is under 40K. It sounds like progress. My graduate loans are in the negative because they accrue interest everyday (i post the payoff amount) and I have not paid on them since I started this blog. I'll make a payment on the 30th though so I'm not to bothered about that. Both my student loans are ahead of schedule in payment.

It seems like my commentors have dropped off. Maybe my posts are not stimulating enough. I guess it's not a very big deal. This is as much for me as for my readers. If there is something you'd like to have me blog about, let me know. I know some people like Jim at mydebtblog have stopped blogging but hey, google tells me that there are people reading so feel free to comment.

It seems like a lot of people are struggling with balancing debt and living life. Debtkid has an article that talks about it. What do you guys do? Do you stop everything so that you can focus on paying your debts? No new clothes, no going out, no vacations etc? Or do you still treat yourself?
I think I fall in the middle. I haven' t bought any new clothes because I feel very guilty to spend that much on a sweater when I owe almost 100k. I will be just fine in the clothes I have already. I'm not going to get arrested for wearing the same coat everyday or not looking like a fashion plate. I haven't taken an vacation that I had to pay for but I will be going to my cousins wedding in the UK bcoz... it's my cousin. That's one thing I won't allow debt to make me miss. I might have to put something on my credit card because I don't have enough saved up for a ticket but I will be sensible about it.

I have kind of stopped going out unless I can get in for free and I definitely don't spend money on drinks (hey, it improves your flirting skills). I do pay myself an allowance ($10 a week) to spend on whatever I want without restrictions. That's my way of keeping sane. I don't know, it's worked so far for me and I've stayed on budget. How about you guys? where do you draw the line?


  1. I am also kind of in the middle like you. With my personality, I don't think I can all of a sudden STOP EVERYTHING and live deprived of stuff that makes me happy. I know that I've changed a lot with my money handling and I'm (kind of) proud of it. I don't shop for clothes as much.. I don't shop for beauty products as much.. I don't go out with my friends as much.. The key word is as much. I still do all of the above, but comparing them to what I did before and now, it's a huge jump... I think it's kind of sad when you deprive yourself of stuff that makes you happy.. I don't know. Just my thoughts. :)

  2. I was never a social butterfly anyway, but I have cut out almost all fun of any kind. Once in a while I will buy a new article of clothing (I work in a clothing store so it is a constant temptation). I am in cheetah mode to pay off my credit cards.

  3. I just posted yesterday about the very same topic! It is so hard for me to decide whether or not I am going to do things that make me happy = cost money, or if I am going to really buckle down and get my debt out of the way for long-term satisfaction. Right now I'm working on making my outings and special events really fun and special, so the money I spend on them are worth it.

    As for clothes, I am finding that I CAN love something that is old. Case in point - I bought a pair of Michael Kors stacked heel loafers about two years ago from an outlet mall Upstate. I wore them once and HATED them - thought they were uncomfortable and ugly. Well, since they were made by MK, I couldn't just throw them away - I tired to sell them on EBay, no luck! Anyways, last year I finally wore out my favorite heeled boots that I would wear everyday with jeans to work. I've been looking for a new pair ever since but couldn't find any that lived up to my old faves. Three days ago, I saw the MK's sitting in my closet, and forced myself to wear them...surprisingly - I loved them! it feels like I bought a new pair of shoes, but sneaky me, I'm just accepting the fact that I did have great taste back when I was running up my CCs, and I should make use of all the great things I got!

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  5. Hello!

    I saw a comment you made on Blogging Away Debt and I thought I'd check out your blog. It looks like you're somewhat like me so I'll be stopping by to comment whenever you post anything new! Please check out my blog as well if you have the chance. I don't have any readers really and I'll link you if you add a link to mine on your page. =)

    Anyways--I haven't cut down on going out at all, but I usually go out with my boyfriend. He always pays for us so I don't really need to budget that in. He's debt free so I let him pay plus I deserve it anyway! Haha. ;) I haven't really bought any new clothes, even though I need them, because I feel like I "can't afford it" because I have debt.

  6. My social life has dropped since getting out of college. I used to go out almost every weekend and that slowed to once a month then once every other month and now it's very rare. At the same time we have more money to put towards other things along with getting out of debt. I know many of my friends run a tab on their credit card, but eventually it runs out.

    I haven't given up buying anything fun. The other day I got a $40 game for $15, brand new. I'm also getting my hands on Quicken 2k9 Deluxe this week for $25 (normally $60). Just set aside some blow money for you to use on whatever you want without having to feel guilty about it. It makes it easy to stay in control long term while managing the short term urges that we all get.

    I stopped running a blog, but still plan to read other's blogs. The thing to me used to be exciting but now it's a distraction from the overall goal, getting out of debt. I like your blog so far though.

  7. Jim's wife laid the smack down. He will not divorce the train wreck.


Hit me with some tough love