So no one is actually lying to me but ME! When you have debt some people tend to lie to themselves. They are afraid to check their checking account balance and credit card statements because they know it will ruin their day.
From my last post you can tell I am pretty open about my finances. But it took me a while to get this way. I was the person afraid to look at my credit statement because I knew it was high!! I would pay the cards off but a few months later I was buying something else.
In November 2018 I had to start being honest with myself. I had to stop telling myself that it wasn’t that bad and it’s okay because I was saving a good amount of money. I was putting more than most into my 401K/TSP and my side hustles were bringing in a good chunk of change!
How can you be honest with yourself? The first step is writing it out! Write down everything debt or spending habit that you might have. Come up with a plan!
When I did this it felt like a weight was lifted off my shoulders. I knew what I had to work toward to be in a better financial space!
That leads me into the current status of my financial journey. I am still using my cash envelopes. It is a struggle spending only what is in that envelope category. However, I am getting use to managing my budget and learning my spending habits. I had not swiped or used a credit card online since November 2018.
BUT I had to find a method to be able to use my card online because as you know online shopping is the best! :) Amazon is probably my favorite shopping site. I have an Amazon store card as well as PayPal credit. So what I did was have an allotment from my paycheck into one of my other checking accounts that I do not use just for shopping online. We are going to call this account the"Shop Account". When I want to purchase something online I use either the Amazon card or the PayPal credit (only if the same amount of money is in the Shop Account). Once the amount has been charged to the credit card then I turn around and pay the balance off using the Shop Account. I only buy online if I need it. For an example, I needed to purchase some photography lights for my photography business so I bought those on Amazon. I try my hardest not to buy unnecessary things while I am paying off debt because that extra money can go towards an additional payment.
I am not saying credit cards are bad. Credit cards are actually great if you know how to use them. You can use them but pay off the ENTIRE balance before the next billing cycle. This not only will keep you out of the hole but it also will boost your credit score!
The journey has been challenging but I know that this is only temporary! Once my debt is paid off I will be able to enjoy more without feeling buyers remorse! Don’t get me wrong I still enjoy hanging out and buying things I want but just on a smaller and smarter scale.
As always pray while on your financial journey and stay focused! Try your best to surround yourself with like minded people!
Love,
Kinna
No comments:
Post a Comment