My Debt Blog

It feels like we hit a fork in the road of life’s decisions. We eliminated a bunch of balances on cards earlier this year, but two small ones have returned. The EF was wiped out by my wife’s car repair and she charged up the debt on these store cards. Does it make more sense to build up the EF again or make these new debts go away quickly? It’s been on my mind all weekend.

The problem with paying off debt and not having an EF is when there’s another emergency. The odds are what they are, so it’s taking a chance to dump debt and postpone the EF until it’s gone first. I know that one of these cards can be taken out this month, but the other I’m not sure. Instead of doing that I could just make the minimum and build up the EF a little bit this month. It just sucks to be in a situation where the debt has gone up and there’s no EF, we have no choice but to continue going into debt if something happens.

My other major stress is the income situation this month. She is working at her current job up to 8/15 and then after that, I don’t know what she will be doing. I can tell this is starting to stress her out because she’s very worried about finding a job right now. The last thing I want to do is harp on the situation to make it even worse than it currently is. So I try to be as supportive and encouraging as I can, but stressing the importance of having to do something to earn income.

Even though my wife’s income runs out 8/15, it’s still the place I would rather be at this time. We have about 10 days yet to get to Friday which has another weekend smack in the middle. Living paycheck to paycheck isn’t exactly a fun thing to do, but it’s what we have to do this month. Hopefully the week goes by quickly and we keep our spending to an absolute minimum.

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