Just in case you are not already in a good mood, here is the sunrise which greeted me this morning, hopefully that will help improve your mood.
Okay, I checked this morning and officially my First Card has only a balance of $90.36. I am tempted to pay it off but I will wait until payday, and get into that habit.
My mood is improved because I have reached my first Credit Card Goal and a measure of pressure is off of me. My first card is done and that is one step towards Debt Freedom. This reminds me of a little trick I learned along the way, I don’t remember from whom.
This will keep you motivated and heading down the path of change that you have set for yourself, be it whatever. From Weight Loss, to fitness, to financial or life goals, all will be aided by this little trick. Set smaller, realistic goals along the path towards your larger goal.
This will let you see measurable success sooner rather than later. This will show you that you can succeed and that you can do whatever it is that you are doing. When you achieve one of your “Mini-Goals” celebrate. It doesn’t have to be great or grand but treat yourself and spend a bit marvelling in the glory of your success. This will get you into the habit of setting a goal and reaching it; a habit of success.
For me, I went out for a dinner for my celebration; nothing fancy, just out. That’s it, it didn’t have to be much, but I told myself that this was my treat for paying that first card off. It is important to pause to note and celebrate your smaller successes so as to help keep you motivated to keep going on your larger goals.
For me, my next card has a credit limit of $5000.00 but it is only sitting at around $4800.00. This is the next target for me, my next largest card. The last one is the one which has been shut off and is sitting around $7000.00, just under its limit of $7500.00.
I chose to go from smaller to larger so as to leverage my money, as in the money I was paying as minimum payment on the first card can now be used towards the next largest card, and so on. Also I did it this way so as to see success sooner.
Before I get down to paying this next card down I know that I need to build up my resources in my main account. This month (September) I will spend as little as possible. for next month (October) I will keep what I usually pay off for cards in my account. This way, going forward, even between paydays, I will never go below zero.
The month after that (November) I will put aside $1000.00 for use for first month’s rent and damage deposit for the place that I will need to rent for winter. If by some miracle I either don’t rent a place or can stay somewhere for free, that will go towards the laptop and/or oops fund.
It won’t be until December that may be able to make the first serious dent in this next card. In December I expect to be in some place, so this is doubtful. So from December to April it will most likely be smaller chunks being taken out of the second card, like $500.00 per month. Even at that pace that is still $2500 paid off of that card..
What matters is that I pay what I can, so that each month I am paying something on the card but still staying above zero in the account. This is another “normal” that I need to shift in my way of thinking.
I am so used to dipping into and living in the overdraft that I think nothing of going below zero. The trouble with this is that each time I do, each day that I am below zero I am incurring debt charges. This has to stop for the betterment my financial future.
I try to not beat myself up for my failings and just instead focus on what needs to be done now. I look at what is happening and figure out what I need to do. I look at things that happen as simply outcomes to what I have done or what life has tossed at me. Outcomes are neither good, nor bad, they just are.
Well, off to work now, enjoy your day and I wish you success on the path of change that you are on.