Friday, January 17, 2014

Dollar$ & ₵ent$…

Up until December 31st of last year, I had 5 store/credit accounts with varying APRs & purchase limits that I'd typically use whenever I wanted to avoid using cash from my checking account. Well as part of my commitment to lower my overall credit debt, I decided to reduce my number of charge accounts from 5 to 1 (the one with the lowest interest rate). 

So far, I've been a very good boy this year & haven't used any of those 4 cards with the ridiculous APRs. But I've been super-reluctant each time I've thought of cutting these cards in half. 

I just fear that an emergency will come up, where having these cards might come in handy. That's what my paranoia tells me anyway.

Sure... an easy solution might be to simply leave those cards at home - but 3 of those 4 credit accounts can still be accessed at the point of sell, with or without my card. 

So I'm not any safer utilizing that approach & I'm just not sure if I trust my self enough to maintain such good behavior for the duration of the year, lol.

I'll just have to stay strong! The remaining credit account that I am; however, still willing to use has a very good interest rate, but I'll need to refrain from using this account too until I pay-off more of the current balance - I don't like using more than half of any given credit limit & that's exactly what I'd be doing if I used it right now. 

So it looks like there won't be a lot of deficit spending for this guy here in the foreseeable future. If the money ain't in either my pocket or checking account, then I ain't spending it - I'm on a mission here. Along with improving my credit rating this year, I'd also like to save more & possibly invest a bit more of my income, whenever possible. 

But this part isn't so hard for me - it's fun actually, I just love to watch money grow! Whether I'm looking at a loose change jar on the tv stand, a brokerage account statement received in the mail, or at an online savings account balance, it pleases the king to see that there's more there today, than there was yesterday.

1 comment:

  1. I don't use my charge cards either. I don't even know where the actual cards are, lol. I only spend what I have. I've been doing that for a while now and it works.