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.
The important thing is that you haven’t given up. And the good thing is that you’re still confronting the monster. That you’re still listing the balances is very important. So hang in there. You’re not alone.
Why are you worried about debt, it is normal at your age, you are very young and have a lot of time left, quit worrying and start living, spend more that helps the economy.
That’s not a good idea to be happy about not paying a store card. It’s bad for your credit, especially if you want to buy a house in the future or even a car. Good luck.
I visited your blog based on a post on Blogging Away Debt. In your comment, you berated someone for being on government assistance. I find it ironic after reading a few of your posts that you seem to have a “poor me, my debt is my wife’s fault” or “poor me, my debt is Christmas’ fault” attitude. If you’re going to talk about accountability for someone on food stamps, how about you take some responsibility for your own actions?
Livingalmostlarge I didn’t say I was happy about it. That card was paid, late, but I am stating that the situation wasn’t my fault or doing. Spending is the primary reason that it happened so not spending should be the simplest solution.
MM how dare you accuse me of not accepting responsibility for the debt that I have. I am well aware that this is my debt and my wife has debt of her own, nor do I need any sympathy from anyone who visits this blog that we’re in debt. We are not in a situation that requires us to go ask the government for social services. I have a problem with people who expect the government to solve their problems. There is some sort of entitlement mentality some people get. I think we have to go out to earn a living to survive. If someone in the community chooses not to work then they are surviving off of some other source like the taxpayers.
There is a huge difference between being broke and being poor. Right now we’re broke, all the money that comes and it all has a place to go out. I strongly feel that the social program the government has in place enables poor people to become dependent on it and keep them there, pure apathy. Exception given to disabled, especially war veterans, and elderly since dependence on someone or something is very common in those cases. Many times I have accepted responsibility and accountability for my debt. Most of the time I know the direct cause of it too. I simply pointed out something I saw in that article that the guy uses taxpayer’s money for food even though he did the right thing by returning the check.
I don’t remember reading anywhere in the MSN article that the gentleman who found the check expects the government to solve his problems. As an employee at MCDonald’s, I’m quite sure that man is paying taxes (on his salary as well as sales tax on things he purchases, whether with his wages or with government assistance).
Your explanation of the difference between “broke” and “poor” comes across, to me (I’ll not speak for anyone else) as an elitist justification for your situation. Isn’t willful disregard for your situation (buying a $700 purse and wallet, for example, when you are already in significant debt) worse than so-called apathy? At least apathetic people aren’t making it worse!
Well, the Christmas hangover is finally upon us. You can only go up from here right?
Have you tried to call Associate or Bank of America to see if you can get a lower interest rate?