This is my (our) first post, prompted by a less than enthusiastic banker. It is not her fault. It is just that in about an hour I plan on paying down Mr. Wooly's credit card debt by $2500. This will officially bring it down to 2/3 of what the bill was two months ago (at $6000). One more of his current big paychecks and it will be a ZERO balance.
I find this exciting, liberating, and something to be celebrated.
The banker I was talking to regarding some account changes didn't see it that way. She focussed on the rest of the debt- roughly $80,000- that remains, exclaiming that we really were carrying a high debt burden.
Well yes, we are, hence the ambitious (but achievable) debt repayment plan. But she can't see my spreadsheets, our budget, our "debt snowball" plan. Maybe she has never had this much debt, or 25% interest on something like a credit card balance. She has probably managed her finances wisely, and I am envious. But in the mean time as we try and get back on track, one penny at a time, I think I am justified in a little dancing around this afternoon ;)
Dr. Wooly
(For all you PF bloggers out there, I am a living case of IQ and debt are not correlated- in fact, I must say completing a PhD has done anything BUT improve my finances!)
