Thursday, July 22, 2010

Sometimes I have to talk myself into doing the right thing

Writing this post is actually a delaying tactic. I'm stalling for time. I'm trying to work up the courage to do what I know I should do.

While I've got pretty good in recent months about not using credit cards for miscellaneous purchases, I have only actually cut up one card, and that's the Chase card that is charging me obscene interest. The others I quit carrying and locked them away in a box. However, I still have the key to that box.

The justification, in my mind, for not cutting up the cards is that perhaps some emergency may arise, like my car breaking down, and the only funding access I might have would be those credit accounts.

But my vehicle is getting old enough now, that if something major happens to it, it would be time to walk away from it. It's lasted 15 years, easily 5 beyond what I though I would get out of it. And she's still trudging along, leaking some oil and burning too much gas, but still getting me where I need to go. She could, potentially, carry me to the end of this credit crisis, with some luck.

So, tonight, I was planning to take the big plunge and chop up the next-highest interest rate card. Perhaps I should not have looked to see how far under the limit I am on that card. I learned I have about $1,200 of room to work with on that card, which is more than I have on any of the other cards left.

I know I should destroy them all. I certainly need to get rid of one charging me nearly 24 percent interest. So, why haven't I done it yet?

Tackling this debt demon is going so slow. I'm tired of the stress and the boredom already. Any new charges will only prolong the agony.

OK, I did it. Chopped another card to bits.

So here's the tally so far: Two accounts closed to new purchases. Two other credit cards destroyed. Six more to go.


Anonymous said...

It sounds like you've gone for credit counseling? If not, that was what helped us to fight our debt. You're headed in the right direction. Keep up the good work.

The G-man said...

Thanks for the comment. I did got to credit counseling for help a few years ago, when I was what felt like the deepest, darkest part of my debt pit. I was cutting into what little savings I had to pay monthly bills, or paying some monthly expenses on credit cards. It turned out that because I was not behind on any of my bills, it would actually have cost me more money each month to use their service than I was already paying. So I didn't utilize the service. I ended up having to make some more lifestyle changes to get back to the point where I wasn't paying out more than I was taking in every month. Now, that I am not using credit cards anymore I actually can see that I'm making progress.

The End Debt Daily