Thursday, 25 September 2014

The Free Money Effect

Okay, I have touched on this before but this is something I am still struggling with so I will share on it some more. 

I have paid off my first card and the impulse I have is not unlike one you would get if you were to find just over $2000.00. Your mind would race with what you could and should do with it. Mine is the same.

The trouble is that I have not found $2000.00 in free money, I have just freed up available credit. My credit card company is standing in the corner grinning at me like Mr. Burns from The Simpsons encouraging me to go out and spend foolishly. 

So far the ideas which have popped into my head have all been things that would be nice but not needed. Such as: 

1) A New Laptop:  this one I touched on before, my laptop is slow and is a power-pig but I have managed to find a solution to make it work. This is nice but not needed.

2) A New Pair of Cowboy Boots:  I miss my boots, they were comfortable and easy to put on and off. The ones I want now are a nice, expensive proper pair of boots. I have shoes. Again, this is nice but not needed. 

3) A Generator: With a gasoline generator I could charge up Wanda’s batteries whenever I wanted, and be free to roam the wide open spaces. While I will eventually buy one, I don’t need one now. I can already charge up Wanda’s batteries up whenever I want. Again, nice but not needed now.

With each of these impulses I have been able to rationalize myself out of buying them. Even though some of these are not that expensive, since they are not needed it is money which should go elsewhere. Every dollar that I spend needlessly is a dollar which is not going towards my goal of debt freedom. 

I know that I can’t put my life on hold and need to live it, but I can’t spend foolishly. That is what got me into this mess. In a bit of time these impulses will die down and I will get used to seeing a Credit Card that is at Zero balance.  

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