Don’t Let the Reality of Future Debt Discourage Present Progress | I've Paid For This Twice Already... http://www.paidtwice.com/2008/05/28/dont-let-the-reality-of-future-debt-discourage-present-progress/#comment-29238 Nikki Thu, 29 May 2008 03:45:34 +0000 http://www.paidtwice.com/2008/05/28/dont-let-the-reality-of-future-debt-discourage-present-progress/#comment-29238 I checked in to the website and this post was just timed correctly for me. My debt covers multiple areas including over 30K in credit cards and $200K in school loans. I have ben feeling frustrated recently because my big goal of the last few months was achieved but it feels like such a mountain compared to this little hill I saved. I saved over $3K so I would not have to fall back on my creidt cards to pay for the move. Now that moving is closer there are expenses that I didn't account for. I will need to purchase new furniture, account for two trips to find housing, the drive there and whatever new bills come up. I feel frustrated because I had promised myself I would not increase my credit card debt but see it as inevitable that I will be skirting my limit in the next two months despite the savings. I questioned if the work I put into putting aside the funds was even worth it and if I should have just tossed it at my debt. I have been feeling a bit on the spiral but realized that hey, I did achieve a goal I set. The funds I saved can be multiplied by my current interest rates because I will not have to use a card for it. In addition because of the money I saved, I will be able to live off my last two paychecks from my current job until I get paid for the new one in August. Once that starts I will also be able to start paying down what I accumulated. My spreadsheet tells me even with the unexpected expenses I will be able improve my debt to credit ratio and still have my emergency fund at the end of the year. SO, like you said, the debt is not who I am nor is it where I will remain. I checked in to the website and this post was just timed correctly for me. My debt covers multiple areas including over 30K in credit cards and $200K in school loans. I have ben feeling frustrated recently because my big goal of the last few months was achieved but it feels like such a mountain compared to this little hill I saved. I saved over $3K so I would not have to fall back on my creidt cards to pay for the move. Now that moving is closer there are expenses that I didn’t account for. I will need to purchase new furniture, account for two trips to find housing, the drive there and whatever new bills come up. I feel frustrated because I had promised myself I would not increase my credit card debt but see it as inevitable that I will be skirting my limit in the next two months despite the savings. I questioned if the work I put into putting aside the funds was even worth it and if I should have just tossed it at my debt.

I have been feeling a bit on the spiral but realized that hey, I did achieve a goal I set. The funds I saved can be multiplied by my current interest rates because I will not have to use a card for it. In addition because of the money I saved, I will be able to live off my last two paychecks from my current job until I get paid for the new one in August. Once that starts I will also be able to start paying down what I accumulated. My spreadsheet tells me even with the unexpected expenses I will be able improve my debt to credit ratio and still have my emergency fund at the end of the year.

SO, like you said, the debt is not who I am nor is it where I will remain.

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