29 January 2008

Must focus.

Must focus.

Well, as you may have noticed, the debt-o-meter has risen a bit. I'm now 13% of the way toward my goal of paying off my debt. When I am debt free, I will be a new woman. I will start saving gobs of money for the future and for fun. All of that money that is tied up going to the credit card companies will suddenly be freed up. I can't imagine what an incredible feeling that will be.

Financial responsibility wasn't NOT taught to me. I don't know where I caught it from - perhaps it can be transmitted like Hoof and Mouth Disease. Who knows! I got to college, and I nearly made it through my senior year without accruing debt...then I'm not entirely sure what happened. I think life happened. I think low salary, high rent, and high stress all helped to lead me into my current state of financial distress.

I am suffering my own economic depression. It's teaching me a thing or two though. When I pay off my credit cards, I am going to be closing them out and swapping them with only ONE credit card. I aspire to find a reward credit card that has both a good APR, no annual fee. Should I not be able to find that, I will setting for the latter two options. Ultimately, my goal will be to live well below my means to save up money for greater things...like trips to Greece and houses.

In a world where balancing checkbooks is done by simply logging into one's bank account, it's not surprising that 1 in 7 Americans carry 10 or more credit cards. American debt, bankruptcy filings and financial irresponsibility are on the rise, and that's not a game I'd like to play. My slate is not clean, but I know that at the end of this rainbow of debt there lies an eraser for my slate. So, it is comforting to know that only 8.3% of households owe $9,000 or more on their cards. Sadly, I am swimming in that pool of 8.3%.

In knitting news, I've been finding it hard to pick up my UFOs...I have been delving into my leftovers and working on quick knits, as you can see. Many hats and a couple baby blankets. I am hoping to pick up my knitted tank from 2004 and finish it after I finish my Bainbridge Scarf (there's not a picture of my Bainbridge on this link, but some more attractive ones.).

1 comment:

Jadielady said...

I know exactly how you're feelin. One company tracked me down just before Christmas, and I made my last payment to them last week, and then another one and I'll make my last payment to them in April. $200 a paycheck. Man, it's gonna feel so good to be done with that, and I'll start putting that into savings instead.