Thursday, October 23, 2008

Out of personal loan debt, back in cc debt

Good news: I made the 2nd and final payment on my personal loan on time. Goal achieved! And it feels good to be rid of that $4k in debt :)

Not as good news: I decided to utilize a 0% interest cash advance option on one of my credit cards. $7k was used for: deposit + 1.5 months of rent on my *awesome* new home + movers + new bed + new snow tires on the Cayenne.

I had expected to spend that money this calendar year, but decided I shouldnt wait until I had the cash. The reasons are personal, but I think it was definitely the right thing to do. My partner and I are driving safely, sleeping soundly and commuting peacefully!

It does make for a couple revised goals this year:
1) repay $7k + 99 fee by Dec 15 ($1000 Nov 1, $5000 Nov 15, $1099 Dec 15)
2) pay for xmas in cash
3) save. anything?

Id really, really like to have some savings! Its not currently realistic until Jan, but there is the possibility some extra income over the next couple months could change that. I will commit to saving at least 50% of any extra income.

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