Need some encouragement -- being debt free

mpark46 · Jun 25th, 2008, 04:41 PM

So I have about $3200 in debt left (down from about $14k last year!). I've been so good about saving my money and not buying anything I really needed, etc. I even bring my lunch to work every day.

Well I sold a bag and a dress on eBay, and I made about $880.

Please convince me to put it towards my debt. I am so tempted to go out and buy a specific pair of shoes that are $450 (it has been a long time since I've splurged).

On the one hand, I feel like a present to myself is warranted. I've done such a good job. On the other, I just want to clear the debt as soon as possible.

What should I do???

BagsRmyLife · Jun 25th, 2008, 04:49 PM

CLEAR YOUR DEBT!

Hats off to you that you put everything on eBay. I've been lazy and just putting off stuff that I should really put up for sale.

You've come such a long way from $14000 down to $3200. Then it's going to $2600, then you'll be in 1000 and you're done! The best present you can give yourself is being debt-free. I hope I can say what you just said next year. Congrats and keep going!

Danielle T · Jun 25th, 2008, 05:12 PM

Every time you feel like "i deserve it", that's only a mini step away from sliding yourself back into debts again!!

pursewatch · Jun 25th, 2008, 05:16 PM

Put the money toward paying off your debt first! No question about it.

socalgem · Jun 25th, 2008, 05:24 PM

Congrats on paying off so much of your debt.

Paying off your debt is the best thing to do. But if you were able to buy something not so expensive and take the remaining to go towards your debt, without getting into the spending habit then you should do that.

Allisonfaye · Jun 25th, 2008, 05:30 PM

Well, if you are anything like me (and hopefully you are not) one item can start a buying binge. Put it towards the debt. You are so close to being debtfree!

pidgeon92 · Jun 25th, 2008, 05:54 PM

Clear the debt.

Try inspiring yourself by creating a chart of your debt, and lower the balance with every payment. Once you are out of debt, do the same thing by adding to savings/investments. It's therapeutic to have a visual reminder of how well you are doing.

may3545 · Jun 25th, 2008, 07:49 PM

Congrats to getting your debt down so much! I would say focus on getting debt free. The shoes will come later. A splurge can happen, but perhaps not at $450 shoes. Maybe something smaller that won't be as huge of a dent, such as a nice top?

I've been through this. In January, I was at $21K debt, and now I'm debt free. I had to avoid a lot of shopping and planned splurges accordingly. I did not get $450 shoes in the between. Now that I'm debt free though, I can. But I make sure I save some of that money first.

Good luck and stay strong! You are almost there!

Lanier · Jun 25th, 2008, 11:16 PM

$880 is almost a third of your debt! - I know it's tough, but you will that much closer to being debt-free if you use that $ towards your debt. And soon you will be able to buy those shoes guilt free.

Florasun · Jun 25th, 2008, 11:53 PM

First of all, congratulations on reducing your debt as much as you have. It must have taken a ton of will-power and doing without. It's a fantastic achievement! At first I was thinking a little treat wouldn't hurt, but now I'm tending to agree with the others. 880 is a little over 25% of your remaining debt. If you can do this for 3 more months, then you will be debt free and splurge on great treat!

At the end of last year I was about 1K away from being debt free - but then I went on a purse binge. You get the picture...

Nola · Jun 26th, 2008, 12:32 AM

You´ve done an AMAZING job paying off debt, just a teeny bit more! Try to hold on. Maybe reward yourself with a nice dinner etc? Cheering for you!

LadyLinda · Jun 26th, 2008, 06:42 AM

Wow, your progress so far is AMAZING! Not many people have your discipline. Here's the thing: once you are free of that debt, you will have more money. You aren't that far away, and it's probably worth the frustration to simply push through and pay it off. You'll be happy you did.

Paying for things and owning them outright is so much more enjoyable than paying lots of money every month for things you've owned for a year.

twiggers · Jun 26th, 2008, 07:09 AM

Great progress!!!! Pay down the debt!!! You buy those shoes and you're just going to feel guilty every time you wear them! What good are $450 shoes when you still have debt!

Virgo · Jun 26th, 2008, 07:20 AM

Quote:

Originally Posted by Danielle T

Every time you feel like "i deserve it", that's only a mini step away from sliding yourself back into debts again!!

I agree. Its a tricky trap, be strong and push yourself not to spend. Once you have paid your card and have some money saved for them, then get the shoes.

Jahpson · Jun 26th, 2008, 08:24 AM

Just imagine yourself waking up early in the morning and have no bills to pay? Any income that comes your way can be spent on whatever?

Pay those pesky debts, they are like mosquitoes, buzzing at you...

Jun 25th, 2008, 05:12 PM	#3
Danielle T Member Joined: Sep 2007 Location: It's raining here all the time!! ;-) Posts: 1,381	Every time you feel like "i deserve it", that's only a mini step away from sliding yourself back into debts again!! Last edited by Danielle T; Jun 25th, 2008 at 05:15 PM.

Jun 25th, 2008, 05:16 PM	#4
pursewatch I Hate Counterfeits! Joined: Sep 2007 Location: Urban Jungle Posts: 909	Put the money toward paying off your debt first! No question about it. __________________ I my hubby.

Jun 25th, 2008, 05:24 PM	#5
socalgem Because I can... Joined: Apr 2007 Location: California Posts: 4,364	Congrats on paying off so much of your debt. Paying off your debt is the best thing to do. But if you were able to buy something not so expensive and take the remaining to go towards your debt, without getting into the spending habit then you should do that. __________________ Life is too short to drink cheap champagne.

Jun 25th, 2008, 05:30 PM	#6
Allisonfaye Member Joined: Oct 2006 Posts: 1,933	Well, if you are anything like me (and hopefully you are not) one item can start a buying binge. Put it towards the debt. You are so close to being debtfree! __________________ Ink City, tomato first, white first, violet first, black flat brass first, rouge vif city, white city.

Jun 25th, 2008, 07:49 PM	#8
may3545 Happy living Joined: Mar 2006 Location: NorCal Posts: 1,968	Congrats to getting your debt down so much! I would say focus on getting debt free. The shoes will come later. A splurge can happen, but perhaps not at $450 shoes. Maybe something smaller that won't be as huge of a dent, such as a nice top? I've been through this. In January, I was at $21K debt, and now I'm debt free. I had to avoid a lot of shopping and planned splurges accordingly. I did not get $450 shoes in the between. Now that I'm debt free though, I can. But I make sure I save some of that money first. Good luck and stay strong! You are almost there! __________________ Visit my website at www.TheConsciousSnob.com for a fun and mindful outlook about conscious living!

Jun 25th, 2008, 04:41 PM	#1
mpark46 Member Joined: Mar 2006 Posts: 1,554	So I have about $3200 in debt left (down from about $14k last year!). I've been so good about saving my money and not buying anything I really needed, etc. I even bring my lunch to work every day. Well I sold a bag and a dress on eBay, and I made about $880. Please convince me to put it towards my debt. I am so tempted to go out and buy a specific pair of shoes that are $450 (it has been a long time since I've splurged). On the one hand, I feel like a present to myself is warranted. I've done such a good job. On the other, I just want to clear the debt as soon as possible. What should I do???

Jun 25th, 2008, 04:49 PM	#2
BagsRmyLife Member Joined: Mar 2007 Location: - NyC - Posts: 3,404	CLEAR YOUR DEBT! Hats off to you that you put everything on eBay. I've been lazy and just putting off stuff that I should really put up for sale. You've come such a long way from $14000 down to $3200. Then it's going to $2600, then you'll be in 1000 and you're done! The best present you can give yourself is being debt-free. I hope I can say what you just said next year. Congrats and keep going!

Jun 25th, 2008, 05:54 PM	#7
pidgeon92 Member Joined: Feb 2006 Location: Waukegan, IL Posts: 1,299	Clear the debt. Try inspiring yourself by creating a chart of your debt, and lower the balance with every payment. Once you are out of debt, do the same thing by adding to savings/investments. It's therapeutic to have a visual reminder of how well you are doing.

Jun 25th, 2008, 11:16 PM	#9
Lanier Go 'Dawgs! ♥ Joined: Jul 2006 Location: The Southeast Posts: 1,379	$880 is almost a third of your debt! - I know it's tough, but you will that much closer to being debt-free if you use that $ towards your debt. And soon you will be able to buy those shoes guilt free. __________________ My blog: http://purselove.blogspot.com Atlanta tPF meetup on 09.14 - Click here for more info! Wishlist: 03, 04, or 05 black city (please let me know if you see one!)

Jun 25th, 2008, 11:53 PM	#10
Florasun Member Joined: May 2007 Posts: 3,557	First of all, congratulations on reducing your debt as much as you have. It must have taken a ton of will-power and doing without. It's a fantastic achievement! At first I was thinking a little treat wouldn't hurt, but now I'm tending to agree with the others. 880 is a little over 25% of your remaining debt. If you can do this for 3 more months, then you will be debt free and splurge on great treat! At the end of last year I was about 1K away from being debt free - but then I went on a purse binge. You get the picture... __________________ Truly, madly, deeply... BANNED!

Jun 26th, 2008, 12:32 AM	#11
Nola Practical Patty Joined: Jul 2006 Location: Europe Posts: 18,958	You´ve done an AMAZING job paying off debt, just a teeny bit more! Try to hold on. Maybe reward yourself with a nice dinner etc? Cheering for you! __________________

Jun 26th, 2008, 06:42 AM	#12
LadyLinda Member Joined: Jul 2007 Location: Philadelphia Posts: 570	Wow, your progress so far is AMAZING! Not many people have your discipline. Here's the thing: once you are free of that debt, you will have more money. You aren't that far away, and it's probably worth the frustration to simply push through and pay it off. You'll be happy you did. Paying for things and owning them outright is so much more enjoyable than paying lots of money every month for things you've owned for a year.

Jun 26th, 2008, 07:09 AM	#13
twiggers Earning my PhD Joined: May 2006 Location: The Library Posts: 19,835	Great progress!!!! Pay down the debt!!! You buy those shoes and you're just going to feel guilty every time you wear them! What good are $450 shoes when you still have debt! __________________ Check out my new blog.....and see how I eliminated $50,000 in credit card debt in just 7 months.... COME JOIN THE COOLEST CLUB AROUND...THE CURBING CONSUMERISM CLUB

Jun 26th, 2008, 08:24 AM	#15
Jahpson I'mma Do Me......... Joined: Aug 2007 Location: The Playground Posts: 8,728	Just imagine yourself waking up early in the morning and have no bills to pay? Any income that comes your way can be spent on whatever? Pay those pesky debts, they are like mosquitoes, buzzing at you...