For years, I have been telling myself that I need to get out of debt. I have paid down quite a bit of credit card debt, only to accumulate it all back. The last 6 months, I have been working quite hard to change my mindset about money and more importantly, the accumulation of things.
Understanding why I spend money, I believe, was the first step in changing my financial outlook. Of course I buy things I need, but I also bought because I wanted (instant gratification syndrome), because I was trying to impress people (keeping up with the Jones'), and because of depression (shop therapy).
I am really tired of the cycle. I am tired of being so wrapped up in what other people think of me. I am tired of worrying if I am going to have enough money to pay my bills, feed my children, and still somehow provide the quality of life I want for my family. I understand that my spending now and paying later behavior has impacted the quality of life for my family now. The only way I can ensure that our future is secure is by making the sacrifices necessary short term for the long term benefit.
The following list comprises all of my credit card debt. This does not include my auto loan or mortgage.
Providian: 10,561
Discover: 4,993
Chase: 2,658
Capital 1: 1,980
HSBC: 1,332
Mohawk: 960
Target Visa: 819
TOTAL: $23,303
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