The Burden

Today we hit a financial milestone.  We've done some major financial shuffling before, but nothing on this scale.  We refinanced and folded some big debts into our mortgage.  It increased our mortgage payment  but removed over three times that a month in credit card and loan payments, not including what extra money I've been dumping in to try to whittle our credit cards down.  We've been down to zero credit card debt before, and it came back with a vengeance.  The challenge now is to make sure that it doesn't return.  

The cards will not be in my wallet anymore, for one thing.  I've used them successfully in the past.  For years I successfully paid credit card bills in full every month.  I used them predominantly for purchases at businesses where checks weren't accepted.  Now that I have a debit card, though, credit cards aren't as important.  I'll still use them for business and travel, but other than that, they can nicely collect dust in the safety deposit box with our passports and other seldom-used, important documents.  There's a possibility we won't use them at all, even when traveling, at which point we'll probably just cut them up.  It all depends on how things will look in the checking account without the constant drain on the disposable part of our income.  It may be possible for us to do the big stuff without having to reach for credit.

I was definitely giddy woman today.  After working with a thin and sometimes deficit budget for household expenses, I'm looking at the possibility of depositing spare $$ from my checking account into a savings account where those $$ can accumulate interest.

I know, blah blah blah money blah blah blah.  But when you've carried the burden for years, the relief is unbelievable.  The whole household was affected, but as the financial drudge I got to face it twice a month, every month.  I'd watch it slowly shrink and then something would inevitably happen and it would hop back up with gymnastic effortlessness.  I couldn't even have the comfort of buyer's remorse.  I knew I couldn't promise myself that I wouldn't overspend again.  The cars and truck had to keep running.  Animals needed their veterinary care.  Kids needed clothes and school supplies.  When we were able to save and plan then we did fun things like buy cameras and computers with cash.  When our savings was hammered and September came around, buying jeans and sweaters with cash was a pipe dream.  We paid for Mojo's adoption with cash.  I paid for his extensive medical care on credit cards.  I paid for my Nova with cash.  I paid for all it's repairs with credit cards.  And so on.

And so it goes.  But now we have a cushion in addition to the lack of credit card debt (I love you refinance genie!)  As that cushion builds, the less likely it is that we'll need to resort to credit cards to pay for large, unexpected or expected but unmanageable expenses.  

This is the way things ought to be.  I know this.  The Richest Man in Babylon and Suze Orman have taught me how things ought to be.  At times I lived very responsibly, but when kids came into the picture I lost my way.  I could make excuses, but really, I stopped looking at finances as closely as I did as an independent woman.  I got out of the habit.  I lost control.  I've had chances to get that control back and I failed.  Hopefully I've learned a lot through my failures and this time I hope for success.  To be fair to myself, before I had a family I had only my own crud to juggle and that was pretty darned easy.  It's a different game with a family.  Although the same rules apply, it's much more complicated.

So here's a toast to those who have gone before me on the road to a credit card debt-free life, and those who shall follow.  Live and learn, learn and live with one less burden.