Thursday, November 15, 2012

Ending credit card debt

Well I have posted before how I took a pay cut to work closer to home, and not have those darn early morning clinics.  I love that I did. I feel better physically and emotionally from the change. I feel like I have more time to my week day and never have to work a weekend.  There are lots of pros to this, but the only negative thing is that my income is less.

When looking at our budget and figuring out ways to improve things, I realized that I have too much credit card debt, like way too much. Not 20 or 30 thousand like some folks I know but more than I care to have and well more then I will ever pay off at the rate that I am currently paying on them.  So we needed a plan, and my man has devised a plan to help us get those cards paid off over the next 2 years.  To be almost completely debt free. We will still have my student loans, car payment and house payment but if we make it with only that debt in 2-3 years I will be super excited!!!  The plan that we have though included some sacrifice.  We will be doing without cell phones and Direct TV for a while.  We will also avoid eating out so much because we do so ENTIRELY too much not only is it unhealthy but it is expensive. This frees us up extra money to pay on the cards, and those are luxuries and not necessities anyway.  It will be hard and we will probably miss those things, but we have a zillion movies we can watch, we have Netflix  we will have regular TV stations, I have a kindle, we have internet, I only work 3 miles from home so I don't have to have a cell phone for emergencies really.  We will be keeping 1 cell phone for the family that will be for use on long trips and situations when a phone may be necessary but it will not have texting and will be a very basic phone.

My kiddos will have some adjustments to make with these changes and I am sorry for this, but tough times call for these measures and its an important lesson to learn for them that you have to do what is right and responsible in life.  Sometimes you sacrifice to make things better.  Its like working hard for a goal, or training for a race. To help us live more comfortably we need to make these changes and we are working toward a goal and its the work we have to put in to get to that goal.  Hopefully we reach this goal we have set and it will be a good life lesson that the kids will see that they don't need to get in debt and should they do so they need to work to get out of it before tragedy strikes hopefully.

I am looking forward to having this debt off of us... oh the extra money we will have... eventually.  It will be well worth the sacrifice we make.  (I am writing this now so when I miss those luxuries we are use to I can refer back to this and remember the importance of doing this).

Plans for the new we will have after the debt is paid:
1) Get a new kitchen
2) New floors in the house/ New paint in all rooms
3) New deck
4) Save for a boat
5) Get married (lol this seems far down on the list... it may have to be pushed up)
6) Save for a trip to see Heather again and possibly spend a week in New York also.
7) Save for a trip to Denver to see Charlie and possibly go to Vegas.

These are just a few things that I know I want to do. I know Thomas has mentioned NY and Vegas and the boat, and the kitchen and the deck so I think he is on the same page with most of these things just may not be in this order... lol I don't really care the order as long as we work toward achieving them.  The extra money we would not be spending on credit card debt would give us the ability to make all of these things happen! Wouldn't that be grand!

***Just to mention we have several great things that have already been purchase to look forward to:
1) The Who concert in Nashville
2) Panama City Beach trip for The Biggest Loser Half Marathon and New Year Celebration
3) P!NK concert in Nashville
4) Dirty Girl (My mud obstacle course I will be doing in March)

Unfortunately my kids are not going to any of these events with us, so I am going to take some of my income tax to buy them some clothes and make a family trip for all of us to enjoy (without going into further debt).

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