I won't go into excuses except that there were a few things that came up that helped me re-accumulate debt after my last year's Debt Elimination. But, mainly it is my lack of willpower and commitment to budgeting.
This is not counting the Mortgage Debt. I did a balance transfer recently to consolidate, which is why the Discover More Credit Card is at 0% APR currently until 2014.
In addition to that, I have alot of uncertainty at my job right now. I need to build up emergency funds again as well as pay down the debt. Since Discover More Card is at 0% APR on balance transfer currently, I think I am going to wait on paying it off even if I can save that amount in the coming year and put the money in the emergency fund instead until the promotion period ends in 2014. Of course, Chase Sapphire Card needs to be paid off soon since it has the 15.99% APR on the balance.
Have you had any problems of not meeting debt elimination goals because life throws curveballs at you?
Discover More Credit Card (0% APR until 2014):
$12,509
Chase Sapphire (@15.99% APR):
$3,229
Have you had any problems of not meeting debt elimination goals because life throws curveballs at you?
Discover More Credit Card (0% APR until 2014):
$12,509
Chase Sapphire (@15.99% APR):
$3,229
Needless to say that debt elimination is a difficult process and you have to be patient and persistent to achieve your goal. It’s great that you are trying to improve your financial life and get out debt because I know lots of people who simply complain that they have debts and do not make any efforts. That’s a long process so on a way to a debt free life lots of people make mistakes but the most important is not to give and do not make new debts. Debt–free life is impossible if a person uses no fax payday loans and take borrowing as a part of life. It’s necessary to change the attitude to money and work and making healthy financial habits.
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