Wednesday, September 29, 2010
This is the time I’m getting my life in order. There was a time when I was up to my eyes in credit card debt. To top it off, I owed money to my friends and family. It was the old idea of robbing Peter to pay Paul. I was in a bad way to the point where the thought of receiving a bill in the mail meant that I would go into a near panic attack.
But then I decided to get myself in gear and get out of debt once and for all. I knew that the best way to do this was going to be to change the entire way I looked at money. No longer was I going to believe that credit was king. From this point forward cash was king. I knew that the best way to turn my life around was to stop buying things I couldn’t afford. If it were appliances or a car, I knew I would need to have the cash for it.
So equipped with this new mindset I decided to get myself in a position to have cash. The first thing I did was look into debt consolidation. This saved my life. They took all the debt I owed(more than I will ever admit publicly) and arranged buyout and settlements for me. They were able to bring my payments down to one lower monthly payment. I still hate that I have to pay it, but it’s completely manageable for me.
From there it has become about avoiding new debt. That isn’t easy, but every time I have had the cash to pay for something in full, there is a feeling that can’t be beat. It’s knowing that not only will that purchase be done in one swipe of the debit card, but the effects of financing won’t linger for years.