I don’t keep it a secret that I used to be in debt. I’m very proud of the fact that my husband and I dug ourselves out of that deep, dark, hole, and that we learned how to handle money responsibly. Sure, I’ll still drop $100 on the slots, but I make sure it’s my extra fun money. I don’t charge shopping sprees, or vacations. We’re going on a trip in a week to Canada, and everything is paid for. That’s a great feeling, knowing that I won’t be paying off this vacation for years to come!

I highly recommend a debt consolidation program for anyone who is just paying the minimums on credit cards. If you only pay the minimum balance, and never charge again, it will take you YEARS to pay off that debt. YEARS! Do you want to be under that burden for the next 10 years, because of an outfit you HAD to have, or a cruise you were just dying to go on? I don’t. My husband and I worked with a credit counseling agency and they saved us a ton of money. A card we were paying 17% interest on was reduced to 7% interest, and our minimums were lowered. That allowed us to pay off our debt much sooner, and we “graduated” from the program in less than 5 years. Or you can get a debt consolidation loan – one loan, pay off your debt, and then pay off the loan. If your bills are piling up, there are options! The site linked above, DebtHelp.com, as ton of great info, from how to use your home equity to pay off debt, to how to repair your credit. It’s a really great resource for all consumers.

The most important thing is to NOT let your debt consume you again. It’s easy to want to buy things, and to want to spend the money because you have it. I just got a pay raise, and went out that weekend to do some shopping and celebrate. But I used cash, because I don’t plan to be in debt ever again. It’s cool to use credit, but using it smart is the way to go. And the side benefit to being out of debt? Life is much more stress free without all that debt hanging over me!

Popularity: 1% [?]