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Debt Freedom

December 13th, 2011 at 07:01 am

Hubby and I began a new budget. Our old one just wasn't working for us. I mean, we weren't trying as hard as we need to be to get where we want to go. I've taken away our credit cards again and we're only using debit. So if we don't have the money in checking, we don't have it. We spent a lot of our savings on Christmas presents, so we're bringing that back up. Now, we're above $1,000 again. Our goal for that is somewhere between $3,000 and $4,000. I have no idea when that's going to happen. Right now, we're very focused on spending little and bringing in a lot.

We should have our BP credit card paid off again at the end of this month and we'll be working on the Capital One card again. It's gone up because of interest, but we'll be okay. I have no doubt. We had started using the credit cards again and that's why I had to remove them from our wallets. I figure, if we need money, we'll dip into savings.

Honestly, I'm tempted to close all our credit cards and just live on debit, but right now, it's how we're building our credit, paying them off and then working well. It's always a challenge to stay on budget.

3 Responses to “Debt Freedom”

  1. North Georgia Gal Says:

    I literally put my credit cards on ice. I put them in a ziplock bag full of water and froze them. I had to make an effort to get to them and usually by that time the moment had passed.

  2. KiwiJo09 Says:

    I did the same thing. When I moved, they all thawed. But I learned a lot along the way.

  3. Jerry Says:

    Credit cards can be a hard habit to break, and they really do lead to problems many times. At one point my wife and I also did what North Georgia Gal mentioned above and froze them a block of ice in the freezer. We are now far less likely to use them, except when I am traveling with reimbursable expenses, because then we have the insurance that the payment is coming out of another account!
    Jerry

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