First month of my CC journey....

Community Leader
Registered: 08-25-2006
First month of my CC journey....
3
Fri, 04-04-2014 - 7:08pm

Okay, my Debt Support peeps.  Even though I paid off an auto loan and transmission loan last year, those of you who know me know my CC has still been the thorn in my side.  

And since getting married again last June, I will no longer be receiving large income tax refunds.  

I rolled every bit of change I have been saving and I deposted $172 into my checking account and paid off the $100 I still owed to Kohls and made the minimum payment on my CC plus the extra from the change.  

So my official balance, as of today, is $14,154.46.

How this will play out with my DH is still yet to be seen, but at least he has an outsiders perspective now of 'our' finances.  

Here we go.....

Serenity CL making a marriage work

Serenity
iVillage Member
Registered: 11-14-2008
Mon, 04-07-2014 - 8:05am

Hi, didn't have much time yesterday. I think this is just great that you are starting to chip away at your cc debt.  I think you are on the right track with throwing extra at it. It can make such a difference. DH is going to look at you like a whole new person. Paying off debt is so liberating. It changes your whole future.  There is no way hubby and I would be doing our dream house this spring if we didn't work so hard to pay off all of our debt. We would simply not be able to afford the payments and it was part of our whole plan 7 years ago. Of course not everyones plan and dream is the same and it may change over time but that is ok. Paying off this debt will give you so many more opportunites. You will see! Oh I'm so excited for you!

iVillage Member
Registered: 04-08-2008
Sun, 04-06-2014 - 3:20pm

I am bored today so I clicked on the board (even tho I was planning to leave it!). But when I met my DH, he was in very similar debt to yours with no means to get out of it. Because he was paying so much interest, he just couldn't get it down. He insisted that it was "his" debt and that he was going to pay it back. He didn't want to come into the marriage "owing" me or on unequal footing.

The reality was that he would take forever to pay off the $13K and I had the money cash. So does it make sense for me to watch my husband struggle and incur so much in interest charges? My investments were only making 3-4% while he paid 6-7% on his debt. It did not make sense. And I told him, that when we were married (we were engaged at this point), it would legally become MY debt. If he defaulted they would come after my money anyway... I chose to marry him with all his faults and debt.

I loved him and what we have it more important than money. If the roles were reversed, he would do the same for me. There were times we got down to wire for paying our bills...and I made him go to a temp service where he ended up shoveling cheddar powder in a mfg plant. IOW, my husband will and can do whatever it takes for his family. That is all I ask or need from him.

I have NEVER regretted paying off his debt. And he has always trusted me with finances bc he knows I'll do what is best for all of us and I have more interest/passion/knowledge in that area. He went from making $28k/yr to $50k/yr this year w/my encouragement and his hard work. :)

I hope it works out as well for you.

Dee

iVillage Member
Registered: 11-14-2008
Sun, 04-06-2014 - 9:47am
I am soooooo excited. This will change your life. Keep us posted!!!