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On a debt diet

June 4th, 2007 at 03:56 pm

After talking over the finances w/ my husband, we have decided to go on a cash-only diet. That means all 3 of the credit cards have been kicked out of our wallets, and our debit card is taking a vactation in the back of the wallet. For now, cash is king.

It's a big change, but we need a big change in order to change the direction that we're going. Lately, we've been treading water w/ our credit card debt and even drifting further from shore. We've been making large payments, but still charging new purchases, so the bill has steadily risen. Now we've said "enough" and are going to pay the debts off, and stop relying on credit cards for instant gratification.

It's going to be rough for a while, but that's good...because we've never really had it rough before. Anytime we wanted something (within reason) we just used the credit cards. And even though we knew the right thing to do was to pay the bill in full each month, we kept saying someday. Well someday has finnaly come and we're going to make it happen!

2 Responses to “On a debt diet”

  1. scfr Says:

    I'm rooting for you! If you have a safety deposit box, why not stick at least two of those cards in there? That way, you can get to them if you really need them, but not too easily.

  2. Amber Says:

    It will be rough but you guys can do it, good luck. And by the way great idea to a fresh start Smile

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