So the wife and I finished paying off our credit cards this month. I feel like a lot of portions of our life have been on hold while trying to do this so it is a great feeling to be able to move forward.
Im not 100% sure on what our peak credit card debt got up to but I think it was upwards of 70k at one point (a portion of that was business debt for my wife but i still count it). I don't know what the fuck I was thinking, my dad raised me better than that and would have kicked my ass had he known how much unsecured debt we had.
It really all started in college for me with getting into a little debt having fun. Then I got out of school met my wife and we combined our debt (her family loves debt and it was just the way she was raised). I then started to buy into her philosophy of spend whatever and we will be able to pay it off at some point. Also it was during the time that all the 0% for 12 months cards were being offered so at the time I didn't think it was too bad either. I seriously believe that 18 year olds should be allowed to drink but you shouldn't be allowed to get credit until 21 or 25.
Anyways after my wife and i got married it was time to get serious about paying it off. There were a lot of fights and I was a little insane at first. I basically tried to make it to where we couldn't spend any money. We had a baby 9 months after we got married. Over time (and a lot of fights) we started to figure out a reasonable budget. It took us slightly over 2 years to get the debt paid off (with a new baby in the house for half of that time).
One of the keys to getting my wife on board was making sacrifices myself. For instance 2 years ago I cashed in all my offshore betting accounts and paid the money towards cards. I have just recently gotten back into betting... I put in my monthly spending money (we each get a couple hundred bucks each month).
I guess the point of this post is for anyone in debt that feels like they will never get there. You can do it. It will be tough and if you have a spouse you will fight a lot at the beginning.
I would also love to see every high school senior be required to take a financial planning class so they know the basics of debt, budgets, mortages, etc.
So the wife and I finished paying off our credit cards this month. I feel like a lot of portions of our life have been on hold while trying to do this so it is a great feeling to be able to move forward.
Im not 100% sure on what our peak credit card debt got up to but I think it was upwards of 70k at one point (a portion of that was business debt for my wife but i still count it). I don't know what the fuck I was thinking, my dad raised me better than that and would have kicked my ass had he known how much unsecured debt we had.
It really all started in college for me with getting into a little debt having fun. Then I got out of school met my wife and we combined our debt (her family loves debt and it was just the way she was raised). I then started to buy into her philosophy of spend whatever and we will be able to pay it off at some point. Also it was during the time that all the 0% for 12 months cards were being offered so at the time I didn't think it was too bad either. I seriously believe that 18 year olds should be allowed to drink but you shouldn't be allowed to get credit until 21 or 25.
Anyways after my wife and i got married it was time to get serious about paying it off. There were a lot of fights and I was a little insane at first. I basically tried to make it to where we couldn't spend any money. We had a baby 9 months after we got married. Over time (and a lot of fights) we started to figure out a reasonable budget. It took us slightly over 2 years to get the debt paid off (with a new baby in the house for half of that time).
One of the keys to getting my wife on board was making sacrifices myself. For instance 2 years ago I cashed in all my offshore betting accounts and paid the money towards cards. I have just recently gotten back into betting... I put in my monthly spending money (we each get a couple hundred bucks each month).
I guess the point of this post is for anyone in debt that feels like they will never get there. You can do it. It will be tough and if you have a spouse you will fight a lot at the beginning.
I would also love to see every high school senior be required to take a financial planning class so they know the basics of debt, budgets, mortages, etc.
Congrats ninefine! I just paid off all of my credit card debt yesterday but it was FAR less than what you had at stake.
Feels fantastic, doesn't it?
Yes it does!
Is that part of the reason you are taking the 365 day break from gambling?
I have to credit mint dot com a little. I loaded all my cc accounts into there and when physically saw it all added up I lost my mind. For some reason the full weight of the situation didn't register until it was all in one place.
Congrats ninefine! I just paid off all of my credit card debt yesterday but it was FAR less than what you had at stake.
Feels fantastic, doesn't it?
Yes it does!
Is that part of the reason you are taking the 365 day break from gambling?
I have to credit mint dot com a little. I loaded all my cc accounts into there and when physically saw it all added up I lost my mind. For some reason the full weight of the situation didn't register until it was all in one place.
Igetmoney... Well actually at the moment we don't have a mortage, living in my in-laws guest house saving for substantial down payment on the house we are about to build. We do have one car payment on my car but it is 0%, while it is still debt I consider it to be a sweet deal. From a time-value view of money you can't beat a 0% car loan unless you can pay cash for it.
Igetmoney... Well actually at the moment we don't have a mortage, living in my in-laws guest house saving for substantial down payment on the house we are about to build. We do have one car payment on my car but it is 0%, while it is still debt I consider it to be a sweet deal. From a time-value view of money you can't beat a 0% car loan unless you can pay cash for it.
I would also love to see every high school senior be required to take a financial planning class so they know the basics of debt, budgets, mortages, etc.
very good idea.... a lot more useful then anything else your being taught.
I would also love to see every high school senior be required to take a financial planning class so they know the basics of debt, budgets, mortages, etc.
very good idea.... a lot more useful then anything else your being taught.
Madden this is something i may try to start working on in my local area... it is far more important than most of the current high school education
NoWorries21 it does feel great. congrats to you too! did you have fun playing on the mini tour? i assume it was a grind. i played in high school and wanted to play at the next level but was never really good enough. i got some "offers" to play at some D3 schools but i don't even know if those count as offers....
Madden this is something i may try to start working on in my local area... it is far more important than most of the current high school education
NoWorries21 it does feel great. congrats to you too! did you have fun playing on the mini tour? i assume it was a grind. i played in high school and wanted to play at the next level but was never really good enough. i got some "offers" to play at some D3 schools but i don't even know if those count as offers....
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