I feel off the wagon
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| Tue, 04-04-2006 - 12:26pm |
I was doing so well!! Took myself on a little vacation, was paying my debt down, doing well across the board. Or so I thought. I forgot to account for a $300 transaction. I now see I overspent on some bills because I thought I was doing well and then realized (too late) that I am $300 less in my account than I thought. My savings only had $50 in it, I've already transferred that (no more meager savings) and I am worried I will not make it until Friday without going negative. The problem is I have no more money to put into checking. I don't have a computer aside from at work so I do my balancing of my checkbook by hand. Although I enter transcations in, this time I forgot all about the CCCA electronic withdrawal. Well, I remembered but not until after I (finally) got myself new glasses (much needed) so I have been really trying to scrimp to get through the week.
I guess its a good reminder how close to the fence I am - relief and security or panic and stress. I have two more credit cards that will be 100% paid next month, so my new snowball will be $136 a month to my second to last loan. And then Debt Free Step One is complete so I need to appreciate that. (Car and student loan will still be there) But this week suddenly went downhill. Fingers crossed that I will make it without NSF fees!! Yikes!! I thought those days were over! Maybe I should build up my savings before I start snowballing but CCCA does it automatically for me...


Hello,
This is one reason that Dave Ramsey suggests that "Step one" to becoming debt free is to have an emergency fund of $1000. "Step two" is paying off the debt. =) Without the $1000 emergency fund, situations like this (an oops with the checkbook) can cause problems. I noticed you had $50 in savings, so you've been snowballing everything to debt first before setting up some savings?
Sincerely,
Lindsey Schocke
Geeks on Tap: Mission Accomplished
HUGS!
Thanks everyone. I am using the celebration icon because even if I don't make it to Friday, I have still paid down more debt this year than I ever have.
Thanks for the posts - I do need to bring up my savings! It was up to $500 a few months ago so before I snowball, I agree with the advice about getting it to $1000. Unfortunately (or fotunately) I do not own a credit card anymore, so I can't get money from that. My parents struggle more than I do so a loan for 2 days isn't feasible. I don't use the debit card for little things anymore (thankfully) so it looks like one thing might bounce, but a few months ago I would have had little debits all over the place. It might be the check I wrote to Walgreens yesterday knowing full well I was at $5 in my account. I needed a prescription, I had no choice, I know its kiting and not allowed. If I only had my e-fund where it needed to be...
But still, Celebration for Health, Family and Being in thousands less debt than I was before. I volunteer at the Homeless Shelter, so celebration that I have a place to live, too! I need to remember to have perspective - the people I see there have nothing!