On the road to being credit card debt fr

iVillage Member
Registered: 03-26-2003
On the road to being credit card debt fr
5
Fri, 04-18-2003 - 4:21pm
I just wrote out a check today for $400 and I now have only about $1500 left in credit card debt. When I pay that off I will be credit card debt free for the first time in almost 10 years! And never again. I have $1700 sitting in my savings account but I am afraid to use that. It took awhile to accumulate and I have a major car repair coming up (60K service) that will cost about $500 and I want to keep some emergency money. In the next month or so I will probably use about $700 of my savings to pay off some more.

I still have student loans (a lot, but getting them consolidated) and a car payment (just refinanced for a low interest rate) but still, not having credit card debt will feel great!

Thanks for listening.

Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Mon, 04-21-2003 - 5:07pm
This might sound harsh but once they're in college, I think kids should be on their own.

It would be different if you had your debt paid off and your retirement fund was taken care of. But if your own financial stability is at stake, that's when

I would say "sorry kid, you're on your own". You could assist in other ways by

helping them find scholarships/grants, buying them a few groceries to get them started, etc.

iVillage Member
Registered: 04-21-2003
Mon, 04-21-2003 - 4:20pm
Sharon,

Please tell us how you accomplished this. I have one child in college, one in high school, and a 2 year old. I can't hold on to a dollar it seems. I need a plan. I want to get out of debt so bad, I know I can do it.
iVillage Member
Registered: 03-26-2003
Mon, 04-21-2003 - 2:03pm
You're doing great! I know how hard it is to not spend the savings to get it over with, but just think about how that might cause you to have to charge again. I have such a long way to go it can get depressing. (DH thought if we sold the house we could be debt free in a year. HA!) I can't wait to make a similar post! That's wonderful!

Sharon

 

Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Mon, 04-21-2003 - 1:27pm
That's awesome! You'll be there before you know it. It's so hard not to use

the savings to pay it off but I think you're doing the right thing! Congratulations on coming so far!
iVillage Member
Registered: 03-26-2003
Fri, 04-18-2003 - 5:26pm
Wow that is just excellent, I can't wait till the day I can write something like this! Congratulations!!

Corinna