Information Overload

When I finally decided that I needed to dig myself out from under my debt I started reading every book I could get my hands on. I have learned about debt repayment through reading Dave Ramsey, Suze Orman, David Bach, Glinda Bridgeforth, Michelle Singletary and the list goes on and on and on. My focus has pretty much stayed on the debt repayment portion of personal finance because, I was living it and it spoke to me and my situation the most. For the longest I suffered from information overload and did nothing with my finances:

"Pay off your highest interest rate first and then the next..."

"Pay off your smallest debt for the quickest gratification..."

"Close out your account to prevent charging more and pay off the account"

"Pay off the debt and shut down the account"

"Pay off the debt and leave the account open"

"wonk wonk wonk wonk" Yes ma'am ( sorry I just went Peanuts on you)

This time around I finally decided to attack the highest interest rate. My debt repayment has been a blend of trial and error through the years. I tried the immediate gratification way only to find myself charging the same card right back up right after paying it off and getting down to two cards. It felt like a self destructive pattern that I had made for myself. I even did the pay off and close method with my Limited card (oh it's back by the way. I bought a suit, used the discount and paid it in full. Have not charged on it since), Target Card, Express Card sheeeettt if a store was giving a card I took it. When I decided debt wasn't cute I shut those biyaiches down as soon as I paid them off. That still didn't help me with the major credit cards though. That took years and years of fighting with myself and balance transfers to decided "okay this is it! I am done."

I have noticed that lately I have been more focused on the debt more than I have ever been in the past 10 years of repayment. I have actually made it to the last two cards with the lowest interest rates. I almost don't want to say it because, I feel like somehow that self destructive 20 something chick I used to be will pop back up. Almost like I would be jinxing myself just by saying that I made it that far and then backsliding down a sliding board full of razors naked into a pool of alcohol (yeah that is how painful debt is to me). But, I do think that with age has come this level of maturity. I am finally ready to be serious about getting the debt monkey off my back. This primate has been DDTing my ass long enough. I felt like he was climbing up the highest tree possible and then jumping off while he slapped his elbow so that he could land with it planted directly in my back with the next charged item.

I have implemented E Funds, Car Repair Funds, Gift Funds any and every fund I can think of that in the past would have made me go charge (thinking of that side note I need a Yay You Did It fund when this is over).

The way I see it. I should be down to one credit card balance by the end of February 2010. Whew who! I will need to run the numbers further to see when I completely finish paying off my credit card debt altogether. Then comes "THE CAR!" Awh Yeah! Can't wait to pay that bad boy off.