Life after debt

Lately, I’ve been doing a lot of thinking about my financial situation. I’m stable for the time being but that’s only because I’m still living at home. If I was to move out on my own, I would be a mess right now. That’s why I have to find myself a good paying job and start living on my own.

I got a call earlier today from a credit company that said I was eligible for a ten thousand dollars loan. I don’t have any need for ten grand at the moment so I went along with the application. The person on the phone took my application over the phone, which took six minutes. At the end of the call, he said that he would have to do some credit checks and then ask his supervisor for an approval. He was going to call me tomorrow with an update. I�ll be at work by the time he calls so I didn�t mind giving my cell phone number. But ten minutes after I got off the phone with the guy, he called back. I was decline for the loan due to the fact that I�ve only been working at my present job for about a month. Oh well, what am supposed to do with ten thousand dollars? It�s money that I would have borrowed and would have ended up having to pay back more then the initial loan. So I think it was for the best that I didn�t get approved.

After sitting around for a bit, my financial situation wandered back in across my mind. I was sitting here reading some stuff about a family that was in debt. That got me started thinking about the debts that I have. Although it may not be much, it�s still debt. According to my records, I�m about three thousand dollars in debt. I�m hoping to get out of the debt and have it paid off by the beginning of summer. I filed my income tax this morning and whatever I get back will go towards my credit card bills. If I can put fifty percent of my pay cheque towards my credit card bills, I would be able to be debt free in three months. Once I have that credit card paid off, I can cut it up.

Credit cards

But as for tonight, I decided to cut up some credit cards, you know, just for the heck of it. And yes, that eBay card is a credit card. I get points every time I use it. But I will not be able to use it anymore, or any of the other cards for that matter. Chances are, the credit card companies will send me a new card once these have expired, which is some time this year. I don�t think I�m going to activate those cards. At the moment, I�m in no position to be using them. For every hundred dollar I charge onto the card, twenty dollars will be added at the end of the month as interest. One of my New Year�s resolutions is to get out of debt and so far, I�m doing a pretty good job at it.

If you don�t have a credit card, don�t bother getting one. It�s not worth it. If you want something bad enough, save up for it. You work hard for you money and knowing that you paid for that item with your hard earned cash will make you feel better about buying it.

2 replies on “Life after debt”

  1. well most ppl like me.. have a credit card for the purpose of building credit and occassionally emergency use i know ive used it a few times for “stuff” but most the time the reason is because i know pay day is only a few days away… now that i got no job i dont use it anymore … i think all you had to do was just keep 1 card and really use it only when you have to like incase an emergency

  2. I don’t think you need a credit card to build credit. I think all you need is something that shows that you are making monthly payments, be it a cell phone bill, internet bill, any kind of bill.

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