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| Mon, 04-21-2003 - 9:16am |
My husband and I are waiting for a phone call regarding refinancing our home. Hopefully we will hear soon. We have $25,000.00 c.c. debt, which we want to get rid of. I am disgusted with the fact that just a year ago, our debt was only 2,000.00 (because we paid of a HUGE amount of debt with money given to us by my family). NOW, we here we are, getting ourselves in the hole again. I am the type of person that either can spend money like its going out of style OR I will act like a MRS SCROOGE, and freaks out about spending .02 cents.
I am very disappointed in myself and have started writing in a journal about about why and what I plan to do about a budget, so that this NEVER happens again. I also try to write about the things that I am grateful for ( My 3 beautiful children, a house that I love, family & friends ). Bottom line ~ Very worried but trying so hard to stay positive.
Well, thanks for listening to my little story, (although there is a lot more to it.) I actually feel a little better just writing this all down.
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Corinna
I just want to stress to you, PLEASE make sure you will not run up your cc balances again once your re-financing goes through. This happens to lots of people.
In my own case, I am too afraid that I will do that so I have never wrapped my cc into another loan. For me, repayment has to be *painful*, such as being cheap, going without etc in order for my debt repayment to *stick*. Right now I have nearly enough money in the bank from two different bonuses this year and tax return to pay back my cc debt, but I know if I pay it off like that, I know (in my case)I'll regret it because I'll start to charge again. (Plus I like having an emergency fund).
However, the good news is, many (probably most) people are not as weak-willed as myself and rolling cc debt into mortgages or HELOC seem to work just fine. Many of the ladies here freeze their cards or just cut them up. Good luck to you and thanks for letting me post my concern. Let us know if the refinancing went through!!!
This is a great board with wonderful people who will provide much-needed support!
All my best,
Danni
All my best,
Danni
Thanks again everyone for your support, It means so much to me !!!