Chipper me up
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Chipper me up
| Mon, 08-04-2008 - 5:47pm |
So I got my first paycheck from my second job that I took (I worked again last night actually!) and it was $38 and change.
For some background on me I was hiding debt from my DH and taking this second job gave me a great sense of pride to know that I was making steps to change our debt and help rebuild the trust in our marriage. I wanted to make sure that all income from my second job got chunked to our c/c debt.
My dh told me that he thinks we should really re-build our e-fund. Right now its about $350 and I agree but I'm sorta bummed that my $$ won't go towards the c/c right now. I know that's dumb b/c the $38 IS going towards something completely necessary but still.............

Good job!
I think it's great that you've gotten a second job. This will build up your savings and bring down your cc balances nice and steadily. I hope you don't make the same mistake that I did - I took on extra work to pay down debt, and somehow that money disappeared into our day-to-day needs.
Maybe you can compromise on the e-fund vs. cc debt goals. For example, one paycheque could go to the efund, and the next as an extra payment to the cc. I agree that an e-fund is important, but it's hard, especially at the beginning, to focus on it when you can see your cc balance and you just want to attack it. It does help to have an efund though, because it's even more demoralizing to have to put something on your card when you've just gone to all of the effort of paying a bunch off, and then suddenly you need several hundred dollars in car repairs.
Think of the E fund rebuilding as your insurance policy against adding to the balance on the cc.