[This is the third and final part of a three part series where I’m outlining for y’all the details of my unhealthiest relationship – my relationship with my credit card debt! Don’t forget to catch the first and second parts.]
Chapter 7: The Second Break Up
After falling into credit card debt a second time, I decided to cut ties once again. I was sick of having this debt hover over me, taking away my hard earned money bit by bit!
So, I changed my focus. I put my student loans on the back burner and sent all extra money from my side hustles towards my debts. I even used my emergency fund to completely pay it all off! (Almost immediately regretting that decision, might I add).
Aside from having to build up my emergency fund all over again, I was credit card debt free! Again! And I wasn’t going to go back this time!
Chapter 8: But I Deserve This!
In transition between by previous job and my current one, which I started back in February of this year, I had a week off to just relax. No, I don’t regret it. But I did have a significant lag between my last paycheck at my last job (which was also smaller than usual) and my first paycheck at my job now (which also wasn’t as large as it would normally be). So again, I dipped back into my credit card debt for regular monthly expenses that I had to pay for before I received my first check from my new job.
I wish the story stopped there. But I also think that starting this new job has made a direct impact on my increase in spending on unnecessary things. My job now is very challenging and exhausting, and also rewarding! But after a particularly tough day or week, it’s much easier for me to convince myself that I “deserve” that new pair of shoes, or I “deserve” a nice meal out. I work long hours and my commute is painstakingly long, so I justify buying my lunch or dinner with the fact that I barely have time to cook for myself anymore. Honestly, though, I do have time to cook. It’s just much easier not to.
Obviously, it’s this kind of thinking that has lead me right back to the beginning. According to my latest net worth update, my credit card debt balance is now at $2,986, which was a significant increase from the previous month’s balance. I can no longer look at my balances and honestly tell myself that this was all out of necessity. No. It always starts out that way, but eventually, my needs become wants and my balances keep growing.
Chapter 9: Third Time’s the Charm… Hopefully
You’re hearing it straight from me, folks (again) – I am declaring war on my credit card debt once and for all! Not only will I be throwing as much money at the problem as possible, but I’ll be cutting back on a ton of unnecessary expenses as well. I’ll limit my credit card spending to only my commuting costs – my gas, my daily tolls, and my BART fare since I know I can afford these expenses anyways. All other “extra” spending – eating out, seeing a movie, getting a massage, etc. – will not be going on my credit cards and will only occur if and only if I can pay cash for them.
Let’s hope this is the last time I break up with this clingy-ass credit card debt 😉
(Side note: yes, the thought of doing another Spending Fast is weighing heavily on my mind right now. Still haven’t made an official decision on it yet. I’ll keep y’all posted)
Well, that’s it for Tired of Credit Card Debt – A Bad Love Story. I hope you enjoyed reading about my soap opera-like relationship with credit card debt. Hopefully this will be the beginning of the end – once and for all!
What’s your relationship like with your debt? Is it like a bad relationship or have you completely broke away?