As I look back upon the last 4 years and see how I have established a credit card debt that add up more than the price of a new SUV I can't believe it. It's amazing how little purchases here and there can amount to enormous balances. I feel awful that I myself am particularly responsible for putting Kelli and I in this tough situation. Granted moving twice in the last two years, going some months without paychecks, going on an amazing honeymoon (which I don't regret) etc. have not helped but I have spent a lot of money on things I didn't really need just because I don't have the discipline to say no.
I realized this partially yesterday when I was about to put another 3.00 dollar latte charge on my credit card when Stumptown Coffee told me they didn't take credit. I didn't have any cash so my friend Jason just bought us both a 1 dollar coffee and you know what I realized? It was just as good. And two dollars cheaper. I started to consider the fact that I was about ready to put 3 more dollars on the credit card that was totally unnecessary. And then I thought about ALL the times I have done that in the last three years. Damn. I wish I could take that back.
Having a minimum payment on your credit cards that equals your rent really puts strain on your life and your marriage. And for that reason I am going to change and start spending more wisely. No more 3 dollar lattes, no more concerts when we don't have the money (goodbye Joseph Arthur, we'll catch you next time), and even no more beer when we can't afford it. That's not easy for me but it is necessary. I'm splurged for too long. It's time for some good ol' fashion discipline. Not to mention what this all says about my theology of money. I don't even want to share any thoughts on that.
Sometimes I catch myself blaming the credit card companies. And I talk about how they are evil but in reality I am the only one to blame and I take full responsibility. I am the one with evil inside that tells me that I have to keep spending, I need that coffee or that beer or that book (hurts to say that) and keeping up with everything. The companies certainly don't make it easy to get out of debt but they did not make me spend in the first place.
Where did all this start? My junior year of college my friends and I didn't have any money but were obligated to take our annual spring break trip to Clearwater, FL and decided to get credit cards. While I wouldn't trade that trip for the world, what I would change is that once I got home I would have paid it off, cut it up and never touched another one. If I had just done that life would be so much simpler right now. Some of you know exactly what I'm talking about. And some of you are probably in the place where the credit card bills are just starting to come in. Take my word for it: pay it off and cut it up now! For those of us that are already in deep debt, lock the cards up somewhere, make the payments and press on! Someday, some day long long in the future we will be free of our stupid mistakes of early adulthood.
3 comments:
Very humbling and confessional words. I think that's the first step in this change you seem to desire.
Yeah...we paid off credit cards before our marriage 8 years ago...then student loans 4 years ago (a total miracle).
We switched to debit card and have never looked back.
But my finances are pretty unconventional, so a debit card is not a suggestion. Just saying.
All the best in your new found discipline.
You have identified a real challenge for yourself, Dustin. Hang tough, because freedom from consumer debt is powerful. Just as I was about to get into serious trouble early in our marriage, we got an unexpected insurance settlement that covered 90% of our credit card debt.
Since then, there have been very few times I didn't pay off the balance in full each month. What I thought was a financial matter was really a spiritual one for me. The stuff I thought I needed was really holding me captive. Be like Daniel!!! Don't eat from the table of the king of Babylon!
I still have a penchant for books, but I buy used, resell, give away as gifts, and have never gone without a true need for years.
FYI->CCC->Dave Ferguson->Nick Plassman->the guy whose head was on a ball gown.
Oh Dustin, this is my challenge as well. I fully regret getting so deep in debt with credit cards. Mine started when I had to keep putting car repairs on mine and working at Disney, couldn't get the balances paid off. Then moving to a place where I had $40 a month after the bills were paid, all groceries and gas and other junk was put on the card. However, I weakly still put things on the card (like that darn lunch at Boston Market every day). I will try to be more disciplined as well. Perhaps we can create our own support group!
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