debt debs

Personal Debt Wrangler – Had my money head in the sand – but no more!


24 Comments

Worth it Wednesday ~ Dear Debt Letter

debt debs ransom-note-

Debt sent me a ransom note … I’m so ignoring him

Worth-it-Wednesday is here a little early because Melanie at deardebt.com enticed me to write my debt breakup letter.  It is such a great idea but as I started to write, I found Debt was sitting on my shoulder watching every word I typed.  In usual fashion he decided to chime in.  Go on over and check out what I and he had to say.  He’s a gnarly little fellow.  So here is me, writing my taking back my life letter, and this is how it went … Dear Debt …

In other news….Nutcracker by artur84 from FreeDigitalPhotos.net

DD#3_targetsMy #3 daughter gave me the best Mum’s day present on Sunday when she told me her student debt from her Masters degree was all paid off!   About a year ago we sat down and did a Gail Vaz-Oxlade analysis on her expenses to see if it fit into Gail’s guidelines for Housing – Transportation – Life – Debt – Savings of 35% – 15% – 25% – 15% – 10%.    Now, she did have more than could be paid off in a year but she received a very sizable income tax refund so was able to completely extinguish it this weekend.  I was so happy!! 

I didn’t know how serious she was taking it from when we last talked about it and I don’t like to nag.  Well, more honestly, I was probably afraid of being disappointed, so in usual fashion I buried my head in the sand.  (Hey, it’s her debt, not mine!  … even though I did feel partly responsible for not setting a better example on how to handle money.)  She used to be a bit spendy and she likes to travel.  Plus, her once famous quote “I’ll always be in debt” used to make me cringe, so I figured she was going to be a hard nut to crack.

Look the nut is cracked open into a heart shape ... ahhhh!

Look the nut is cracked open into a heart shape … ahhhh!

But I guess Mum’s persuasion and some new found frugalness on her part was just what was needed to crack that nut open.  She thanked me because she said I helped her to see it was possible to eliminate her debt.   🙂   I guess I can really move on from my guilt trip now.  Heeee …

Image Credits from FreeDigitalPhotos.net:
Nutcracker by artur84
Walnuts In Love by Aleksa D

 


12 Comments

The Evil and Grace of Low Rate Cash Advance Credit Cards

We have gathered up quite a bit of available credit (like rolling tumbleweeds) in our debt journey (enough to hang our self with a rope, but lemme try to keep this post positive).

http://www.flickr.com/photos/denise_rowlands/4262433471/sizes/m/in/photolist-7uE5Yg-dgzXnu-4h6bUo-xSUbW-aWcDCx-y2CZX-6SGv-5zt5Jw-4h6c5A-7AhP2e-hQy1pm-3JMPg-ek6urh-b6dUNF-7Sf5oK-FRvA1-8cTe43-axko2Q-4aMjh2-5NyW8-46gqkN-fGBqUR-78Ww5k-5NwdpD-78WMg6-fT3vJw-99ryV-3jkc6s-4H9Mhv-vsdKy-5NAug5-5GZ7M-94nTab-3yq622-3yq5Hv-4h29zT-4h6cgC-bxM8LA-3cFbF8-87XJs2-881VMy-618VEp-xZ5vi-3JMPi-eMVTV1-x9jRV-5XbcqR-7HD3ch-7Hz7RR-7HD4hJ-7Hz72x/

Creative Commons License Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)
Ðeni (break) Denise Rowlands on flickr

Consequently we used to get a lot of telemarketing calls trying to get us to use these credit cards by transferring higher interest debt onto a card with a low balance transfer rate.

Apparently, while I had my head in the sand, the Irishman started to play along. Hence our debt story where we had amassed $250K of consumer debt up to D-day. (I kid you not, go read about it here).

So fast forward to March 2012, more affectionately known as D-day, I put my big girlie panties on and start wrangling this debt monster.  Strategy becomes my game.  Hey, I got nuthin’ else. Continue reading