- July 10, 2008 at 1:10 pm #259655
Ok, well after reading all the posts this morning I am wondering if
I’ve done the right thing by signing up here. But I am going to give
the group a chance because I’m looking for money savings ideas and
wanting to bit by bit chip away at my debt. I do believe I am
responsible for myself and I am seeking ways to reign it all in.
I am a credit junkie (meaning I’ve allowed myself to be trapped in the
never ending credit, pay, get more credit cycle), BUT I am NOT overdue
in any of my bills. I have NEVER been overdue in my bills. My credit
rating is not as good as it could be because of the size of my debt
load. But it’s above or near average depending on the reporting
agency. AND yes I would like to learn how to live within my means at
least most of the time. However, I do not have anything against
getting, keeping or having credit cards, mortgages or auto-loans since
the average person could never save a few hundred thousand for a
mortgage. Heck, I could never save 15,000 for a used van for my
business. If we pay rent we lose that huge tax relief called mortgage
interest and the rent we would pay would usually be a little bit higher
than what we might pay buying with a mortgage. Why pay someone elses
mortgage interest for them? That’s all we are doing when we rent.
I would appreciate not being looked at as irresponsible. GASP…I am
around 50,000 dollars in debt and I am NOT scared or upset at the
fact. I’m a little miffed at myself for letting the habit get out of
control. So while yeah, I see and understand some of the viewpoints
expressed against letting debt get out of control. I don’t appreciate
the militant viewpoints that throw phrases around like “stupid tax”.
I am against total bankruptsy but not against a reorganization
bankruptsy that allows a person to pay off the debt over time with the
judge forcing the companies to lower the interest rates. I haven’t
done it myself. I choose to believe I can pay off my smaller cards and
then direct those payments towards the bigger ones. I comfort myself
with the idea that my interest payments are putting food on the tables
of everyone that works for these companies. For those of you that are
militantly against all credit, have you considered what would happen to
our country if every family that has one or more wage earners working
at these banks, mortgage companies, credit bureaus, credit collection
agencies and finance companies were out of their jobs? After all, they
earn a paycheck and then spend that paycheck back into our own economy
which helps us all.
As for how and why I’ve gotten into this debt? That’s a LOT of various
reasons including huge dental bills, job loss for 10 months on the part
of my husband, setting up and re-setting up my business whenever we’ve
moved and yes, some of it was luxury items I wouldn’t dream of living
without 🙂 Do I deserve these things? Heck yeah! LOL. I work 7 days
per week, 24 hours per day and have for 21 years without missing a
single day a long the way. It’s daycare by the way. I care for
children from many families on all types of shifts. I get up all times
of the night to let sleeping children go home and sleeping children get
dropped off. So all my luxury purchases have been made to make my home
and daycare appealing to the families and to myself.
I don’t have that big screen tv yet! LOL. I am actually trying to pay
my Dell account down really fast so that I can feel ok about buying
one. In fact, my only goal financially at this point is to make sure I
have 25% available credit in all my accounts. That would increase my
credit bureau score and lower my interest rates. Then, as I continue
to step 2 of the proccess, I can pay off everything that is only a
couple thousand dollars or less which would allow me to close about 25%
of my overall cards/accounts again increasing my credit score and
reducing my interest.
I did just recently buy 492 dollars worth of carpet with CASH! LOL.
That is a huge step in the right direction for me.
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