January 2, 2008
Plastic Pinch Update for December
This is probably the worst update I have posted thus far while I pretend to get out of debt. Christmas is just too difficult to manage and my income couldn’t keep up with our regular household expenses. What pisses me off the most is I feel like I have no control over the finances because I’m the only one who cares. More money isn’t going to solve anything, it’s just an illusion to be able to spend more. Here’s the breakdown of the damage:
| Credit Cards | Balance | Credit Line | APR |
|---|---|---|---|
| Bank of America | $3,910.43 | $5,500.00 | 15.24% |
| Associates | $1,247.89 | $1,700.00 | 18.99% |
| Citi Dividend | $6,982.44 | $8,700.00 | 9.90% |
| Zales | $843.69 | $5,000.00 | 9.90% |
| Totals: | $12,984.45 | $20,900.00 | |
| Debt-to-Credit | 62.13% | Change | -14.37% |
I’m pretty sure I knew this would happen in the middle of December. My wife had to have this expensive purse and all this other crap, paying bills isn’t fun and gets forgotten. She got a rude awakening one morning that her store credit card hadn’t been paid. It isn’t my fault she signed up for the card, bought so much stuff that it is now maxed out, and then doesn’t pay it on top of that. My debt reduction was cut in half due to Christmas on credit and the EF is blown away since she has no income. My wife must find a job so we can get the mess cleaned up. She’s more concerned about her outfit for a social event we’re going to Friday. At some point things need to be paid for before buying more things. I’m extremely frustrated and burned out trying to manage the finances. What a way to start the new year.
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