Monday, September 17, 2012

#46: Pay off my credit card(s)...THE confession & latest update

I published this way back in May this year, so I wanted to update you on my progress...

I have a problem.
I am a Shopaholic.
I like to buy things I do not need... especially clothes and shoes.
But I don't buy big ticket items. I rarely spend a lot on my purchases and I think that is one of the problems.
I just can't resist a great bargain.
But even these small purchases all add up.

I blame the fact that I was born under the Leo star sign.

Leo's have some great strengths...
- Confident
- Ambitious
- Generous
- Loyal
- Encouraging

But they also some weaknesses...
- Pretentious
- Domineering
- Melodramatic
- Stubborn
- Vain

The Vanity things is an issue. Supposedly it is because of the moon I was born under. It makes a Leo have the need to be 'admired by others, and to feel good about oneself'.

I think this is why I always have a need to constantly buy clothes that I think look good and that make me happy.
That or I just like buying things???

So the fact of the matter is that I am in debt.
I have been debt for a while.
I have been trying to pay it off, but haven't managed to make much of a dent.

But now that it is on the Life List, I need to do something to tick it off the list.

I hate to admit it, but I owe the following amounts on 2 credit cards:
Card #1 = $2,460.99
Card #2 = $1,435.99
That is a Grand Total of $3,896.98


It isn't a massive amount, but for me it is. And because of the interest, it just keeps on growing and growing. And it turns into a vicious cycle.

But I have decided things will change.

I cut up Card#2 last night.

I then put a budget plan in place and presented it to 'husband'. He agreed with my plan and therefore BOTH cards have been paid off, using our savings we had in our mortgage.

I just now need to pay off the mortgage in monthly instalments.
According to my calculations, my debt will be paid off in 7 months, with 0 interest.

Husband has also put me under strict spending conditions, so I don't get in this situation again.
Which I will follow.

Wish me Luck!

UPDATE: 18th of May 2012
So far I have paid $1,647 off the debt... $2,250 still to go

UPDATE: 17th of September 2012
So far I have paid $2,150 off the debt - $1,747 still to go - I should have paid more off but I had  relapse and used my one remaining card to buy some clothes/scarfs/winter hats that I probably didn't need. But I am back on track...  I will have this paid off by the end of the year.
I promise


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