one down

“Outstanding balance: $0.00.”

THAT feels GREAT.

We paid off the lesser of our two credit card balances the other day. Not the kind that we use for monthly expenses; this was a debt made up of 2007’s taxes. It’s been hanging around since last year,¬†and we just made one final shove to get rid of it. Hurray! One debt down, only four more to go!

I’ve been realizing lately (with reluctance) that like everyone else, I too spend more money when putting monthly expenses on a credit card. It’s taken me a long time to admit it, though. Keith and I never used credit cards during college, and we’d never accrued any debt other than student loans, so when we began using credit cards for monthly expenses in the year following college graduation, it was purely for the purpose of building credit. Because we just knew that we would never be so foolish as to use credit cards unwisely. Fast forward a year, then throw in the worst six months of our lives, add in making next to nothing for the six months after that… and bing, we have credit card debt. I really do think it’s fortunate that we had credit to fall back on during that point in time, and we are fortunate to have our credit card interest rates to be under 5%, but still. Debt is debt.

So anyway, that has all been separate from the card we use for our monthly expenses, but I’ve decided I really need to just pay for things out of checking now. Even if we don’t get the 4% cash back. I’m excited to see what kind of difference it will make in my spending when I am forced to write everything down in the checkbook. Thus, the “monthly expense” card is now down to $0 as well, and I have begun in the last few days to use real money to pay for things.

I kind of like it.

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Published in: on July 9, 2009 at 8:53 pm  Comments (3)