I was revamping our budget tonight (more on that later) and decided to update all our accounts. We have recently dropped under $20,000 in "bad" debt! I am so excited. Our current total is $19,953.12. Not too far under $20K, but still.
Now I know this is still A LOT of debt to be in. Considering that in October 2006 we peaked at $38,440 in credit card debt, I am really really proud of us. We've come a long way in less than a year. It's very encouraging to know that despite some recent regressions, we're still making headway. I still plan on making one more payment in August as well.
Based on our current numbers and the new budget, we will be credit card debt free in March 2008. I am a little disappointed that we had to adjust our original goal of becoming debt free by the end of 2007. However, I know that in the long run 3 months will make little difference.
Wednesday, August 22, 2007
Removing Credit Card Fees - Small Roadblock
I made the phone call to the credit card to ask them if they would remove my late fee. My heart was pounding so hard, I was sure Larry the customer service rep could hear it through the phone. Why was I nervous? I was afraid he would say no, but on top of that, I was afraid that he would judge me for missing my payment.
This is probably because I am judging myself for missing the payment. "How did you let this happen?" I asked myself, time and again since I saw the charge there. I feel sick to my stomach and guilty. What a waste of $39. So despite my fear of Larry, I called and asked them to remove the late fee.
Larry: What can I do to provide you with excellent customer service today?
JvW: Well, Larry, I made a mistake. I made a late payment on my credit card. (pound pound) As this has been my only late payment in some time, I was hoping you could help me by removing the late fee.
Larry: OK, let me look into this for you.
It didn't work. But not because of Larry - he said there should be no problem removing it. The payment I made for August just hasn't shown up on their system yet, despite the fact that I made the payment on their website and it is pending on my bank account. This is pretty annoying. I was hoping to rip off the band-aid and get this over with. Now I have to wait until it posts on the credit card website and call back.
The good news is, my mistake won't change my interest rate. Larry said that they will only review and revise your interest rate if you have 2 late payments in a 12 month period, and this is my first in a looooong time. I am pretty happy about that, as this is my lowest interest rate (12.99%) and at the bottom of my debt snowball. I didn't want this to affect my whole debt payoff plan.
So while I don't get to check this off my to-do list, I feel better about it knowing there should be no issue. I know it's silly to be nervous to make phone calls like these, but the important part is to do it anyway, stand your ground, and get what you need. I am the only person who will stick up for me, so I had better do it.
This is probably because I am judging myself for missing the payment. "How did you let this happen?" I asked myself, time and again since I saw the charge there. I feel sick to my stomach and guilty. What a waste of $39. So despite my fear of Larry, I called and asked them to remove the late fee.
Larry: What can I do to provide you with excellent customer service today?
JvW: Well, Larry, I made a mistake. I made a late payment on my credit card. (pound pound) As this has been my only late payment in some time, I was hoping you could help me by removing the late fee.
Larry: OK, let me look into this for you.
It didn't work. But not because of Larry - he said there should be no problem removing it. The payment I made for August just hasn't shown up on their system yet, despite the fact that I made the payment on their website and it is pending on my bank account. This is pretty annoying. I was hoping to rip off the band-aid and get this over with. Now I have to wait until it posts on the credit card website and call back.
The good news is, my mistake won't change my interest rate. Larry said that they will only review and revise your interest rate if you have 2 late payments in a 12 month period, and this is my first in a looooong time. I am pretty happy about that, as this is my lowest interest rate (12.99%) and at the bottom of my debt snowball. I didn't want this to affect my whole debt payoff plan.
So while I don't get to check this off my to-do list, I feel better about it knowing there should be no issue. I know it's silly to be nervous to make phone calls like these, but the important part is to do it anyway, stand your ground, and get what you need. I am the only person who will stick up for me, so I had better do it.
Monday, August 20, 2007
Two steps back
I made a mistake and forgot to pay one of the credit cards on time. It was in my excel debt snowball as paid, but not on the actual website. I feel like such a moron and I am pissed at myself.
I think as a whole, I have been paying less attention to our finances than usual. I know we have been going over our budget, especially for fun money. I have been ignoring it a little because, frankly, I am enjoying it. It's tough to deprive yourself of things you want over and over and over. I am resentful of the choices we made that got us into this mess to begin with. Morale is low here at the base camp.
We were very good about sticking to the budget for 8 months, then summer hit and we wanted to DO things. Despite the cheap dates we've been going on, we've still spent too much money already in August. And we plan on spending more money this weekend. AND (this is the worst part) we've used the credit card to pay for a little of it. Oh, the shame!
I need to buckle down and get back on track if I want to get this beast. This was like a small setback in the grand journey we're traveling on. My short-term task to fix this problem are:
I think as a whole, I have been paying less attention to our finances than usual. I know we have been going over our budget, especially for fun money. I have been ignoring it a little because, frankly, I am enjoying it. It's tough to deprive yourself of things you want over and over and over. I am resentful of the choices we made that got us into this mess to begin with. Morale is low here at the base camp.
We were very good about sticking to the budget for 8 months, then summer hit and we wanted to DO things. Despite the cheap dates we've been going on, we've still spent too much money already in August. And we plan on spending more money this weekend. AND (this is the worst part) we've used the credit card to pay for a little of it. Oh, the shame!
I need to buckle down and get back on track if I want to get this beast. This was like a small setback in the grand journey we're traveling on. My short-term task to fix this problem are:
- call the credit card company and get them to remove the late fee I just incurred :(
- revamp the budget
- pick up another day at my part time job to bring in more income
- look for other ways to make some money (eBay?) to resolve this quickly
- organize our files so bills don't end up in a big pile
Thursday, August 16, 2007
Cheap Date #3 - Life's a Beach
This date actually took place a few weeks ago. On the last Sunday in July, my husband and I decided to take a trip to the beach. It was hot and sticky and we wanted to go somewhere with decent surf. We chose East Matunuck State Beach in RI, about an hour away from our house. This beach, like many state beaches and parks, only charges for parking. At $14 a car (out of state) and with a picnic lunch, we could definitely come in under $20 for our date.
When we pulled up to the ticket booth, we were in for a shock! With happy circumstance, the day we chose to go was Governor's Bay Day in RI. Parking to all the state parks was free! I love that RI does this - it really promotes being outdoors and enjoying the beauty of the Ocean State.
This got me thinking. Many states offer days like this throughout the summer (google it), but unfortunately Massachusetts does not. They do have a yearly pass for $35/vehicle, and my library has free passes as well. I need to look into what parks that will work at and if it's only for certain days. But I of course love the idea of FREE dates!
My husband:
Look at that fog!
When we pulled up to the ticket booth, we were in for a shock! With happy circumstance, the day we chose to go was Governor's Bay Day in RI. Parking to all the state parks was free! I love that RI does this - it really promotes being outdoors and enjoying the beauty of the Ocean State.
This got me thinking. Many states offer days like this throughout the summer (google it), but unfortunately Massachusetts does not. They do have a yearly pass for $35/vehicle, and my library has free passes as well. I need to look into what parks that will work at and if it's only for certain days. But I of course love the idea of FREE dates!
My husband:
Look at that fog!
Tuesday, August 14, 2007
I don't want to be normal
The other night, I was driving from my full time job to my part time job and feeling particularly cranky. It was Friday, it had been a long week, and all I wanted to do was go. home. Not go to work for 4 1/2 more hours and get home at 11pm.
I called my husband and said as much. "I just want to be NORMAL!" I whined. "Normal people get to go home on Friday night and watch a movie or go out for dinner. Normal people don't go to work when they get out of work."
Then I heard what I was actually saying (complaining about). The common figure floating around is that the average American household has around $8000 in debt. Assuming an interest rate of 18% and paying minimum payments calculated at 2% of the balance, it would take 40 years and 2 months to pay off that credit card. The total interest paid would be $20,219.05.
I can't think of anything that I would buy for 3x what it's worth. That's what carrying a balance makes you do. I know that there are some iced coffees and cheeseburgers in my credit card debt that I have now paid for at least 3 times. Thinking about it makes me feel sick to my stomach. Thinking about it gives me motivation to go to my part time job and sell things on eBay and reconsider everything I buy. I am doing my penance for my crime.
If this is normal, I don't want to be normal. I want to be better.
I called my husband and said as much. "I just want to be NORMAL!" I whined. "Normal people get to go home on Friday night and watch a movie or go out for dinner. Normal people don't go to work when they get out of work."
Then I heard what I was actually saying (complaining about). The common figure floating around is that the average American household has around $8000 in debt. Assuming an interest rate of 18% and paying minimum payments calculated at 2% of the balance, it would take 40 years and 2 months to pay off that credit card. The total interest paid would be $20,219.05.
I can't think of anything that I would buy for 3x what it's worth. That's what carrying a balance makes you do. I know that there are some iced coffees and cheeseburgers in my credit card debt that I have now paid for at least 3 times. Thinking about it makes me feel sick to my stomach. Thinking about it gives me motivation to go to my part time job and sell things on eBay and reconsider everything I buy. I am doing my penance for my crime.
If this is normal, I don't want to be normal. I want to be better.
Friday, August 10, 2007
I've been tagged!
I don't know of anyone who hasn't been tagged already, so if you're reading this and want to play, consider yourself tagged (and leave me a comment!)
Players list 8 facts/habits about themselves. The rules of the game are posted at the beginning before those facts/habits are listed. At the end of the post, players then tags 8 people by posting their names and makes sure they know they’ve been tagged by leaving a comment at the tagee’s blog.
1. I love coffee milk. This is a RI drink that is sort of like chocolate milk, only using coffee syrup. I am frequently astounded by how few people know of it.
2. I got married in the Caribbean. Totally worth all the hassle to make it legal.
3. My second toe is longer than my big toe. I can thus cross my toes.
4. My youngest kitty, Tango, likes to nibble my neck when I am asleep. Not the best way to wake up. I think he's either a vampire or believes he's in the backseat of a station wagon.
5. I played rugby for four years in college and know many crazy rugby drinking songs. I have also had to "shoot the boot" on multiple occasions.
6. I love to SCUBA dive, ski, hike, swim, & camp.
7. My last name is so long my children won't be able to fit it all on the SAT's.
8. I love to cook and bake and drive my husband crazy because I never follow a recipe exactly, but make my own changes along the way.
Players list 8 facts/habits about themselves. The rules of the game are posted at the beginning before those facts/habits are listed. At the end of the post, players then tags 8 people by posting their names and makes sure they know they’ve been tagged by leaving a comment at the tagee’s blog.
1. I love coffee milk. This is a RI drink that is sort of like chocolate milk, only using coffee syrup. I am frequently astounded by how few people know of it.
2. I got married in the Caribbean. Totally worth all the hassle to make it legal.
3. My second toe is longer than my big toe. I can thus cross my toes.
4. My youngest kitty, Tango, likes to nibble my neck when I am asleep. Not the best way to wake up. I think he's either a vampire or believes he's in the backseat of a station wagon.
5. I played rugby for four years in college and know many crazy rugby drinking songs. I have also had to "shoot the boot" on multiple occasions.
6. I love to SCUBA dive, ski, hike, swim, & camp.
7. My last name is so long my children won't be able to fit it all on the SAT's.
8. I love to cook and bake and drive my husband crazy because I never follow a recipe exactly, but make my own changes along the way.
Thursday, August 9, 2007
Cheap Date #2 - Hanging with the Fishys
While that phrase brings to mind someone who can't hold their alcohol, it's one of my biggest challenges. I love trying to find cool, interesting things to do with my husband that don't cost a lot. Bonus points if they don't cost anything!
Inspired by this article, I have a goal of coming up with 20 dates for $20 or less. As it will be challenging enough, I am including this date I already posted as date #1. On a side note, I am not counting gas into my calculations. Everything else will be included.
Onto cheap date #2! This Saturday, we went to the New England Aquarium. Regular admission is $18.95/person. However, my library offers free passes to residents! (Many libraries offer passes to museums and parks; check yours!) All we had to pay was parking.
Unfortunately, this was our demise. We passed 2 garages for $14 and $15 all day parking, but were a little bit lost and parked in the closest garage, for $32. Yowza! I know, I know, this passes the $20 limit, but I still count this date because it can be done for less than $20. We just made the mistake so nobody else has to. Onto the pictures:
Los penguinos
Jelly, whoa
Sea Star and a white lobster
This turtle was HUGE:
Inspired by this article, I have a goal of coming up with 20 dates for $20 or less. As it will be challenging enough, I am including this date I already posted as date #1. On a side note, I am not counting gas into my calculations. Everything else will be included.
Onto cheap date #2! This Saturday, we went to the New England Aquarium. Regular admission is $18.95/person. However, my library offers free passes to residents! (Many libraries offer passes to museums and parks; check yours!) All we had to pay was parking.
Unfortunately, this was our demise. We passed 2 garages for $14 and $15 all day parking, but were a little bit lost and parked in the closest garage, for $32. Yowza! I know, I know, this passes the $20 limit, but I still count this date because it can be done for less than $20. We just made the mistake so nobody else has to. Onto the pictures:
Los penguinos
Jelly, whoaSea Star and a white lobster
This turtle was HUGE:
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