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Friday, March 9, 2012

I'll show you mine...

...my pig bank, that is.  This is Gertrude Petunia (my childhood nickname from Mom).  I routinely empty her out and take the coins to the credit union, so when I did it this week I finally remembered to take her picture.  Isn't she pretty? 

I found her on clearance at Target this summer.  I'd been stalking her for awhile because she coordinates so well with my kitchen colors; but I refused to pay full price for a bank.    She only coughed up $15.50 this time, but it's been put into my savings account and will be a nice little snowflake at the end of the month.  I haven't decided which of my credit cards will get the extra, the balances are all within $50 of each other.  With the interest rates figured in it's pretty even on the progress no matter which one gets it. 

I just realized I've never talked about my debt, other than to claim I have it, or my budget.  I suppose I should.  I'm never going to be one of those bloggers who plan out exactly what I'm going to write about, so expect some rambling.

Here goes:  As of today I owe exactly $74,911 (rounded to the nearest dollar). 

Here's how it's broken down:

Home Depot: $241
Orchard Bank: $260
Kohls: $210

Car Loan: $4,876

Student Loan 1: $46,144
Student Loan 2: $23,180

A bit staggering, isn't it.  Especially when considering that the amount I owe is twice what I make in a year.  I still feel better off than at this point last year though when I couldn't even afford to pay all of my bills because my ex husband's addiction and entitlement issues ate every cent I made.  So it may take me the next 10 years to get this paid off, but I'm fine with that.  

And since it's been a judgement issue of some blogs this week let me just cop to the fact right now that even though I'm repaying debt, I'm still planning to taking some vacations this year and probably every year.  But I won't accrue new debt to do so, nor will my bills be going unpaid.   That said, I really do need to find a way to produce extra income. 

8 comments:

  1. I'm still taking vacations even though I have debt. I don't feel bad at all!

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  2. Good for you! We still have to live even though we have debt and if you are taking vacations without incurring new debt then I don't see any problems! You are doing fine! And i envy you your PIG!!

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  3. Those store cards and nice and close to each other and not too far from being done. woo hoo

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  4. Even thought I am working very hard to pay down debt, I'm spending money on races and travel to them (something I just found out that I enjoy and benefits me physically). I could sit at home and save every penny. But then I would stay fat and bored.

    You have to spend a little on living while you work on getting out of debt. There's no judgement there. I would only question it if you were putting the repayment completely on hold for months or getting deeper in debt in order to do something. In that situation, you probably could make sacrifices and find something more affordable that scratches your itch without making the debt problem worse.

    As it is, vacations are important too.

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  5. It's scary to post what you owe but it helps so much in the end. I'm proud of you! I bet you will get it paid off sooner that 10 years. Things have a way of working themselves out, especially when you are really working at it.

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  6. HMMM....I have no idea about judging on a blog..HAHA.

    Just found ya....looking forward to getting to know you.

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  7. I love the pig! The first step to knocking out your debt is to list it. I would say that the ones with the smaller balances are dated quickly. I like your blog.

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  8. Just buy things that you really need and stay away room shopping malls. LOL

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