Debt Free Kid

Near the end of 2008 I finally figured out that my spending was out of control. I was 34 years old and I was going to end up bankrupt. My lifestyle was inflated compared to my earnings, and all I wanted was what everyone else wants: a home, a car, some stuff. My car at the time was an old beater on its last wheels, but my home was a rental house that I couldn't afford. I had a huge student debt at the time which began in 1996 and looked like it was going nowhere. My credit card debt was almost as huge, and I still couldn't stop shopping. I gave notice on the house and moved myself and then 2.5 year old son into a one-bedroom apartment. I went car-free periodically whenever the beaters left us stranded. I stopped buying daily coffee and meals out. I stopped pick-me-up treatments for my hair and toenails. I still made stupid spending mistakes, but I managed to pay off the credit card debt in 2.5 years in 2011. At the end of 2014 I cashed in my small retirement savings account...

From Retrospace: Ads # 83: Money

It took a few months for me to figure out that the theme for 2016 is "Make Do." Because I have compulsive spending habits (that got me into over $20 000 in credit card debt), I have to be very careful with my idle time. If I am on a computer I have to avoid online shopping, and if I have a few free hours on the weekend I have to avoid the shops. It is not made easy when my newest credit card allows me to designate three shopping categories to receive my 2% cash back each month. Since January, one of my self-selected categories is "Drug Store." I have been out of my nice face serum since late 2015, and it has been so tempting to go into the drug store and purchase another $50 bottle, knowing I will get $1 back for the purchase. But I have avoided the drug store and saved the money, and I am instead using up a jar of $50 cream that I purchased last year. Making do with what I already have. I am similarly avoiding Sephora, since I have at least 10 lipsticks and liner...

As of this morning (payday), Friday 27 May, 2011 I am credit card debt free. 30 months, $20 000, Paid. Off. Thank you to so many bloggers who inspired me back in November 2008 to start on this self-improvement project. In particular I would like to shout out to Fabulously Broke, Jolie, and Grace, who were with me from the beginning. Thanks as well to my ex-sweetheart who covered all my weekend fun expenses so I did not experience too much debt burnout. You can do this too! Stop Shopping! Seriously, Karissa