Sunday, April 5, 2009

Paying down the Debt

I bought a purse this weekend and you would have thought I was trying to decide on a new home. I had to make two trips to the store before I actually talked myself into the purchase.
It is hard for me to go out and spend money on something that is not a need, but more of a want.
Granted the cat made a scratching post out of my last purse, and we were not talking a Coach purse, but an on sale off-brand purse. Still it was hard.
We have been trying to pay off some fairly steep debts for the past few years.
The fact is that we have this heinous debt because we had all kinds of wants that we were too impatient to wait for and now all we have to show for that is debt.
After three kids, lots of wanting, and the decision to be a stay at home mom family we were ass neck deep in debt. Staring bankruptcy in the face.
Then my husband discovered Dave Ramsey. We started our 'envelope' system and we don't buy anything unless we can pay cash for it. In the beginning it really sucked. I swear I had Target withdrawls.
The first Christmas was the worst. I cried on Christmas Eve as I looked at what seemed to be a meager amount of gifts. I actually filled my kids stockings with fruit. I thought they would wake up and wonder what they had done to tick off Santa.
They of course didn't. They were just as happy with their much parred down Christmas as they had been with the over indulgent Christmases of the past. Did not even seem to mind the fruit filled stockings.
It is still hard at times. We are closer, but still a few years away from being debt free. It is nice knowing where our money goes. Even knowing that it is going to a credit card company is not so bad when you know you are that much closer to freedom.
When I bought the purse, a very helpful cashier told me that if I opened a store credit card I could save 15%. I told her and would pass and then handed her my 15% off coupon I had received in the mail and paid for the purse in cash.

4 comments:

  1. I know the feeling. Check out this post:

    http://suburbancorrespondent.blogspot.com/2008/02/handbag-math-and-husbandly-machinations.html

    Dave Ramsay is great!

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  2. Wow, that is really impressive and takes a lot of discipline. I've heard of that envelope thing, and that it really works. I'm glad you had a coupon so you could have a new purse.

    Thank-you for your gracious comments on my blog. I hardly knew what to say.

    I'm glad you were blessed by your husband's music yesterday.

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  3. Dave Ramsey is great and I think his ideas can benefit anyone and everyone.
    I love his radio/t.v. show when people call in and scream that they are debt free. It is awesome.

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  4. Excellent financial advice. And since my girlfriend is a purse nut, I am now more knowledgeable about that sort of thing myself. Mssrs. Dooney and Burke have quite the racket going.

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