Monday 2 March 2015

Paying For Success

This week (and weekend) has been a bit rough, but I have been getting through it okay. I am scrimping and saving where I can, all in the name of my own budget shortfall (not related to the price of oil). In essence I have traded one debt for another, all in the name of achieving a goal early. 

In reality, I haven’t achieved that goal, not really. Sure I have paid Card #2 off and that is to be celebrated and it is a good thing. 

In order to pay off Card #2 I have used up so much of my paycheque that I have almost nothing left for anything but the essential bills. As a result I have been charging what I need to exist on Card #1. This is a step backwards and robbing Peter to pay Paul. I have a plan to solve this though, and that is key. 

Why would I do so? Well, let’s say that there has been a balance on Card #2 nonstop since somewhere in early 2010. Getting that thing paid off was important to me as it has always loomed large and seemed for so very long that it would never, ever be paid off. So to me, this seemingly silly move was worth it, if only to finally deliver the fatal blow to fell that beast that is Card #2.

I have enough food, fuel and after this evening enough (need to buy) propane to last me to payday. I will then lock the cards away and not spend a dime until I get paid. Then when I do get paid, I will use my budget and resurrect my wallets using just them to exist until the payday in late March. 

Then I will pay Card #1 off and leave the extra in the account. I will use the early April payday to pay $500.00 on Card #3. This next payday (Early March) I will do the same thing. I will use the late April payday to leave in the account and get my hinny out of the overdraft. 

This is important to me, for my own sanity, as I hate each day that I am in the overdraft. Each day that I am in the overdraft, to me is a failure. I still like having it, as it is a handy tool to smooth out the financial bumps in life. To live in it though, is aggravating beyond belief. Once again, this is a problem of my own creation, and thus the solution must also be of my own creation.

After the overdraft is paid off, I will carry on with my large payments on Card #3. I will work towards getting it paid off by July 22 but that date is now in jeopardy. I am not sure if I will be able to meet that date, as I am not exactly sure what the exact balance of Card #3 is now. 

I do not have access to the online banking site for it, as the account has been “estated” as they call it (deactivated). . . . Either that or I am truly dead to them. (That means that I have to wait till the paper statement to know the balance, which should come soon). Each time I call they give me the attitude of why are we talking, you are no longer a customer.

For my own sanity, I need to pause to get my finances in order. I need to pay off Card #1 and then get myself out of overdraft before I can move on. I will move forward, but with: Card #1, Card #2 and overdraft all paid off. Then and only then will I move forward in earnest to pay off Card #3. 

That way, when it is paid off, I will honestly be unsecured debt free. It may yet be by early or even late August, but whenever that day comes, I will be out of overdraft and my other cards still at zero. 

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