NFR: Let’s talk about debt, baby!
I was talking to my friend, Julie (See J? I told you I’d pimp out your blog. LOL) , the other day about debt. Probably not the most pleasant conversation among friends but one that many people are facing right now. At least I know I am. I remember reading that 2008 was the highest bankruptcy filing, almost 1 million (say it like Dr. Evil) people; young, old, married, single, student. Wow.
Julie even mentioned that her pastor was doing a sermon series on financial peace. Now I am not a very religious person. I guess I believe there is something out there but I really can’t say what. Officially my family is Buddhist but a certain Bostonian friend once told me that the teachings of Buddha are about living a simple life free from material things to reach enlightenment and I am not simple or free of wants. Ok I admit it. I want alot of things. I am a material girl.
See how that works. Its a vicious circle really. Being a material girl isn’t cheap. Therefore I have acquired some credit card debt. Thankfully I do not have any other debt. No school loans, no car payments, no mortgage. It could be worse. I have friends and family that over under in their home, have 10x the debt that I have, lost their job. I know its easy to blame the lenders and economy but let’s be honest and place some of the blame on ourselves too. Did we really need those $300 Coach shoes that were 50% off? (Yes, I am talking to you A.)
But I think there is a difference between good debt and bad debt. School loans are good debt IMO. Buying things you can’t afford and putting on your credit card is probably bad debt. (Why are you all looking at me like that?) I have gotten better though. I use to have 10 credit cards. Now I have 2. Hey baby steps right? I am working on freezing my last 2 credit cards like my friend, Amanda, does with hers to avoid using it in snap Nordstrom sale decisions but I am not quite there yet.
Right now T and I have figured out a 1 year plan to pay off our debt. No more paying the bare minimum. Now practically my whole paycheck goes to our debt and we live on his income. Right now it kinda sucks b/c I feel like I am working my arse off and not getting the instant gratification of spending my hard earned money (ie I really want a Wii+Wii Fit!) but I know I will later when that giant credit card debt weight is lifted from my shoulders and we can buy a house (and adopt a doggy!)
What are you doing to find financial peace?
Entry filed under: Not Food Related.