financial reflections

As some of you may know, I’m in the process of paying down my credit cards.  But lately I’ve gotten very frustrated with the lack of progress I’m making.  I’ve considered doing some rather drastic things, none of which are realistic right now.  Then I just get depressed.  What’s a blogger to do?

I had to have a discussion about this with my spouse, who has been nothing but supportive to me.  She helped me work through what we were able to do in the near future, but mostly she helped me see that we are making progress.  Right now I’ve done all the consolidation, budgeting, cutting back, and paying down I can do.

I just have to learn to take it one day, one week, and one month at a time.  I’ll just keep on doing what I have been doing:

• Discontinue use of all my credit cards - I’ve already done this, and I’m cutting them up and closing them one a time.
• Spend less than I earn - I budget every month, so I know I’m keeping on track.
• Pay more than the minimum - I target one credit card to attack and go after it.  Once it’s done, I move on to the next one.  I polished off my small cards early on, so it’s taking a while for me knock off the next one.
• Watch my net worth increase - Every month, I know that my net worth is headed in the right direction.
• Be patient - I’m learning to keep focused on the positives.  It’s going to take some time and discipline, but I’m really enjoying the knowledge that I’m moving in the right direction.

So if you’re getting frustrated like me, perhaps you can take joy in monthly progress.  I have the habit of expecting it all now, which is also a personality trait that seems to get people in debt.  We want it all now, so we pull out the plastic to make our wishes come true.  I’m learning to take it slow, and that’s much more satisfying.