I remember my first credit card, it was my second year college I was 19 years old and my roommate had an iPod. I wanted one too! So I went on the Apple website picked a pretty green one, applied for financing and got approved! Woohoo!
My iPod came in the mail, I was excited starting downloading songs and used it quite frequently. I received the bill and the minimum payment was a very small amount. I had a part-time job so no big deal.
I started noticing all the Capital One credit card offers and decided to apply for those too. I remember I would get approved for a $300 limit, then I remember I got approved for an $800 limit. I was rich!
Here I am now at 25 years old and I have no clear idea of what I bought. I know I bought clothes, makeup, food. All that stuff maybe it's in my closet, maybe I donated it, but it was just stuff. There's nothing realy to show for all my debt.
I still have my green iPod which broke about a year ago. It's a dud now compared to the new and improved ones out there. I still keep it as a reminder of my very first experience with credit cards.
Tuesday, March 29, 2011
Thursday, March 24, 2011
Calm Down! & Debt Update.
So I was in charge of my bosses office babyshower today. I tend to get over excited for these type of things.
Don't even ask me about my best friend's baby shower. I spent well over $500 on planning hers not including food. That was just decorations, a diaper raffle prize, giveaways for the guests and her present. I went full out!
So I was telling myself don't spent too much this time around. But I feel like I splurged. I spent about $80 on a present and $80 on food, and there was only 9 of us.
I hate asking people for money too. So I was reimbursed only about $25 for the food.
I don't regret seeing all of them happy but I know I should calm down! That extra order of breadsticks or custom name stickers don't make the party, it's really the thought that counts.
Anyways here's my debt update from the last time I wrote. I was paid today and there's still some payments coming out for my student loans:
LOANS $11,631.00
CC $3,338.00
$14,969.00 IN DEBT
I'm back under the 15k mark.
Don't even ask me about my best friend's baby shower. I spent well over $500 on planning hers not including food. That was just decorations, a diaper raffle prize, giveaways for the guests and her present. I went full out!
So I was telling myself don't spent too much this time around. But I feel like I splurged. I spent about $80 on a present and $80 on food, and there was only 9 of us.
I hate asking people for money too. So I was reimbursed only about $25 for the food.
I don't regret seeing all of them happy but I know I should calm down! That extra order of breadsticks or custom name stickers don't make the party, it's really the thought that counts.
Anyways here's my debt update from the last time I wrote. I was paid today and there's still some payments coming out for my student loans:
LOANS $11,631.00
CC $3,338.00
$14,969.00 IN DEBT
I'm back under the 15k mark.
Tuesday, March 15, 2011
Blog Surfing!
I've been going crazy reading financial blogs for motivation and keep trying to get it engraved in my head that I need to get serious about eliminating debt. It's crunch time now!
I've done the math and my tally of debt is now $15,655!
$11,631 Student Loans
$4,024 Credit Cards
Student Loan balance has gone down, but I used my credit card for my two recent trips.
I've taken my first baby step to stop using my credit card and an obvious "duh"! move, which is not carrying it in my purse anymore! I only have my debit card and I'm leaving my credit cards at home.
I've decided to update this blog on a regular basis and mandatorily every paycheck. I have 20 paychecks left this year so I'm hoping I can do some damage with my debt.
I've done the math and my tally of debt is now $15,655!
$11,631 Student Loans
$4,024 Credit Cards
Student Loan balance has gone down, but I used my credit card for my two recent trips.
I've taken my first baby step to stop using my credit card and an obvious "duh"! move, which is not carrying it in my purse anymore! I only have my debit card and I'm leaving my credit cards at home.
I've decided to update this blog on a regular basis and mandatorily every paycheck. I have 20 paychecks left this year so I'm hoping I can do some damage with my debt.
Tuesday, March 8, 2011
Parents.
I have a really foggy financial memory about my parents when I was younger and felt like talking about it today.
In 1995, when I was in elementary school my dad retired from the military after 20 years of service. I remember he couldn't find a job in his field (he was a machinist mate in the military) for awhile and started working at McDonald’s and Pizza Hut. I thought it was cool because he would bring home apple pies and cheeseburgers.
Then I remember my parent's declared bankruptcy. As a kid I assumed bankruptcy meant we were poor and didn't have any money.
After that I remember looking in my parent's drawer and finding a Ziploc bag full of credit cards. That for me is a very clear memory. It was a huge stack! Lots of department store credit cards.
End Memory.
Now looking at the situation more clearly I realized how irresponsible my parents were with money.
- The stacks of credit cards.
- That my dad was indeed receiving more than $1000+ a month retirement pay from the military when he left.
- Of course that my dad worked for 20 years and had time to accumulate savings that should have at least taken care of that gap of unemployment.
I know a lot of 25 year olds that think our parents had it together in an instant. House, cars, kids. And that's what we strive for too. We want the marriage, the house, the good salary. I see it now as a few of my friends are starting families and getting married.
If you look at the details, you'll realize that our parents made some big financial mistakes and also life mistakes. Some of course didn't but some did. In this case my parents.
We also don't realize how hard our parents worked.
Did they work at their dream job with top paying salary right out of college? No, they toughed it out in jobs they probably didn't like or were bored at.
Now I'll admit I've picked up some of their bad habits. But I admire my parents for the fact that have always worked hard and worked hard for their family.
In 1995, when I was in elementary school my dad retired from the military after 20 years of service. I remember he couldn't find a job in his field (he was a machinist mate in the military) for awhile and started working at McDonald’s and Pizza Hut. I thought it was cool because he would bring home apple pies and cheeseburgers.
Then I remember my parent's declared bankruptcy. As a kid I assumed bankruptcy meant we were poor and didn't have any money.
After that I remember looking in my parent's drawer and finding a Ziploc bag full of credit cards. That for me is a very clear memory. It was a huge stack! Lots of department store credit cards.
End Memory.
Now looking at the situation more clearly I realized how irresponsible my parents were with money.
- The stacks of credit cards.
- That my dad was indeed receiving more than $1000+ a month retirement pay from the military when he left.
- Of course that my dad worked for 20 years and had time to accumulate savings that should have at least taken care of that gap of unemployment.
I know a lot of 25 year olds that think our parents had it together in an instant. House, cars, kids. And that's what we strive for too. We want the marriage, the house, the good salary. I see it now as a few of my friends are starting families and getting married.
If you look at the details, you'll realize that our parents made some big financial mistakes and also life mistakes. Some of course didn't but some did. In this case my parents.
We also don't realize how hard our parents worked.
Did they work at their dream job with top paying salary right out of college? No, they toughed it out in jobs they probably didn't like or were bored at.
Now I'll admit I've picked up some of their bad habits. But I admire my parents for the fact that have always worked hard and worked hard for their family.
Monday, March 7, 2011
Back Again.
I have been neglecting this blog and it's mainly because I haven't been making any progress on my debt. I'm still not mentally all-in with this goal and I still have some bad habits that I need to work on.
I came back from a 6-day trip to Europe last week and came back with more debt! I think I need to change my blog name to a higher number! I also can't forget about my February trip to Miami and yes I charged there as well.
I'm also 2 years into this job on March 17th. My boss gave me a raise and now I'm at a little more than $41k annually.
This will help with my debt snowball.
I'll be back, hopefully with some better news about my debt reduction goals.
I came back from a 6-day trip to Europe last week and came back with more debt! I think I need to change my blog name to a higher number! I also can't forget about my February trip to Miami and yes I charged there as well.
I'm also 2 years into this job on March 17th. My boss gave me a raise and now I'm at a little more than $41k annually.
This will help with my debt snowball.
I'll be back, hopefully with some better news about my debt reduction goals.
Monday, December 27, 2010
Christmas 2010.
Goodbye Christmas 2010. I hope everyone had a wonderful holiday. Mine consisted of family, friends, food, sweets, naps, then repeat.
So I'm back after 20 days. Here's the holiday shopping damage rounding up a bit, I'm scared!
My immediate family:
Brother: $60 (3 T-shirts/Ammo, he's a gun collector)
Mom: $75 (A Really Nice Jacket for Europe/Gloves)
Dad: $65 (T-Shirt/Ammo/Socks)
Mom & Dad: $30 (Family Picture and picture frame)
Our 2 Dogs: $13 (2 Rawhide bones/Toy)
TOTAL: $243
Boyfriends family:
Boyfriend: $230 (Car Audio Deck/ipod Nano)
Little Brother: $40 (gym shorts/socks)
His Mom: $60 (nike jacket/picture and picture frame)
His Dad: $40 (gym pants/picture and picture frame)
His Grandma: $40 ($30 cash/picture and picture frame)
His Grandma #2: $40 ($30 cash/picture and picture frame)
TOTAL: $450
Friends:
5 of my gal pals: $40 (Pajamas at $7 each)
White Elephant Gift: $28
TOTAL: $68
Friends Kids: Thankfully my boyfriend covered most of the cost this year
Friend's Daughter: $50 (Target Gift Card)
Godson & Friend's Son: $40 (Target Gift Card)
TOTAL: $90
Gift Wrap/Boxes/Bows:
$15
TOTAL: $15
GRAND TOTAL: ~$860
So I'm back after 20 days. Here's the holiday shopping damage rounding up a bit, I'm scared!
My immediate family:
Brother: $60 (3 T-shirts/Ammo, he's a gun collector)
Mom: $75 (A Really Nice Jacket for Europe/Gloves)
Dad: $65 (T-Shirt/Ammo/Socks)
Mom & Dad: $30 (Family Picture and picture frame)
Our 2 Dogs: $13 (2 Rawhide bones/Toy)
TOTAL: $243
Boyfriends family:
Boyfriend: $230 (Car Audio Deck/ipod Nano)
Little Brother: $40 (gym shorts/socks)
His Mom: $60 (nike jacket/picture and picture frame)
His Dad: $40 (gym pants/picture and picture frame)
His Grandma: $40 ($30 cash/picture and picture frame)
His Grandma #2: $40 ($30 cash/picture and picture frame)
TOTAL: $450
Friends:
5 of my gal pals: $40 (Pajamas at $7 each)
White Elephant Gift: $28
TOTAL: $68
Friends Kids: Thankfully my boyfriend covered most of the cost this year
Friend's Daughter: $50 (Target Gift Card)
Godson & Friend's Son: $40 (Target Gift Card)
TOTAL: $90
Gift Wrap/Boxes/Bows:
$15
TOTAL: $15
GRAND TOTAL: ~$860
Tuesday, December 7, 2010
2011: The Year of Paying Off Debt?
According to the Chinese Calendar it'll be the Year of the Rabbit, I'm hoping that it's also the year I pay off all/most of my debt!
I do have some hurdles a.k.a expenses in the beginning of the year. Then I could really focus.
Traveling will be the death of me if I keep it up. I really don't plan on traveling to far off places after my Europe trip. I hope the next trip I take will be paid in cash and I'll be basking in debt-freeness.
I have Miami booked late January 2011. I'll be in Florida for work and a few co-workers suggested a side trip, which I said yes to. I will only be there from a Saturday - Monday, and I plan on keeing my spending down. Flight is paid for by my work, but I'll have to take care of hotel and expenses.
Second one is a trip to Europe with my mom in mid-February 2011. I booked this a few months ago and it's $1779 out of my pocket. I'm currently paying it in installments taking advantage of a bill me later option with 0% financing if paid in full by 2/2011. I've knocked a little more than $900 of that so I'm getting closer to paying it off.
We'll be there for seven days, so it's a fairly long trip. My mom said she'll pay for most of the daily expenses like food, but I'd like to bring a comfortable amount of money with me as well for just in case.
After that I've developed a plan of action for the rest of the year. I hope to stick with it.
So some of my favorite financial blogs include:
Free Money Finance www.freemoneyfinance.com
Get Rich Slowly www.getrichslowly.org
Blogging Away Debt www.bloggingawaydebt.com
*My main motivation to start a blog, she's almost at her goal and she started with $38k in debt.
DINKS (Dual Income No Kids) Finance www.dinksfinance.com
Enemy of Debt www.enemyofdebt.com
The Financial Philosopher www.thefinancialphilosopher.com
*I really like this blog as well. It's not numbers and formulas type of blog, but it pretty much reiterates meaning before money and purpose before planning. I know I'm in debt, but the Europe trip I talked about above is something I've wanted to do for a long time, and to do it with my mom makes it even that much more meaningful. By the way, we booked it because I turned 25 this year and she turns 55 next year (we'll be in Paris on her birthday).
I plan on linking a few articles as I go along with this blog. I absolutely love these blogs.
I do have some hurdles a.k.a expenses in the beginning of the year. Then I could really focus.
Traveling will be the death of me if I keep it up. I really don't plan on traveling to far off places after my Europe trip. I hope the next trip I take will be paid in cash and I'll be basking in debt-freeness.
I have Miami booked late January 2011. I'll be in Florida for work and a few co-workers suggested a side trip, which I said yes to. I will only be there from a Saturday - Monday, and I plan on keeing my spending down. Flight is paid for by my work, but I'll have to take care of hotel and expenses.
Second one is a trip to Europe with my mom in mid-February 2011. I booked this a few months ago and it's $1779 out of my pocket. I'm currently paying it in installments taking advantage of a bill me later option with 0% financing if paid in full by 2/2011. I've knocked a little more than $900 of that so I'm getting closer to paying it off.
We'll be there for seven days, so it's a fairly long trip. My mom said she'll pay for most of the daily expenses like food, but I'd like to bring a comfortable amount of money with me as well for just in case.
After that I've developed a plan of action for the rest of the year. I hope to stick with it.
So some of my favorite financial blogs include:
Free Money Finance www.freemoneyfinance.com
Get Rich Slowly www.getrichslowly.org
Blogging Away Debt www.bloggingawaydebt.com
*My main motivation to start a blog, she's almost at her goal and she started with $38k in debt.
DINKS (Dual Income No Kids) Finance www.dinksfinance.com
Enemy of Debt www.enemyofdebt.com
The Financial Philosopher www.thefinancialphilosopher.com
*I really like this blog as well. It's not numbers and formulas type of blog, but it pretty much reiterates meaning before money and purpose before planning. I know I'm in debt, but the Europe trip I talked about above is something I've wanted to do for a long time, and to do it with my mom makes it even that much more meaningful. By the way, we booked it because I turned 25 this year and she turns 55 next year (we'll be in Paris on her birthday).
I plan on linking a few articles as I go along with this blog. I absolutely love these blogs.
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