Increased debt

I really blew our debt repayment last month.

I am going to try to go back to an all cash system until we can get our spending under control. Although I don't have the exact numbers yet, our credit card debt went from about $4500 to about $13,500. That makes me sick. To be that far in debt again, after only one month, is awful! In all honesty, I am beyond embarrassed and ashamed at our increased debt. I will tally up the final numbers and post them in a numbers update near the middle of February. I need to figure out a way to be held accountable and I hope this is it. For 12 months our debt total decreased and in just a few short weeks we blew it.

But no more! This is it! 2017 is the year I am getting out of credit card debt for good!

I am going to continue plugging away at credit card 1 as I have been - $150 - $300 per month, but I am going to get very aggressive with our other card.  My goal is to have our other credit card paid off by March 30th, including our normal spending, that's a pretty aggressive goal.

We have a couple things coming down the pipe that will help us to reach it. First of all, we should have a tax return that will help us to get there and secondly I received a raise that will help.  Our union negotiated us a a 3.5% raise and a one time lump sum of 2.5% + $500. It is this money that I'm hoping will really help us to get out of the mess we made for ourselves.  We are getting paid out for our lump sum on March 20. That's why I picked March 30 to have that credit card back down to zero.

Once we pay off "the credit card we pay off monthly" I will work hard to pay of CC1.

The way we got out of debt the first time, was by using an all cash system. Apparently it's time to go back to that.  If we don't have it in cash, we can't spend it. I'm also going to try to do a "low-spend February and March". During those months, we will spend as little as possible: no new clothes, no mani/pedis, no eating out, etc. We have got to get back on track whatever it takes!

New year, new financial me! The old me was in debt. The new me is getting out of debt. The old me, charged what I couldn't afford. The new me says if you don't have the cash, you don't need it! I'm one week into a 52 week financial journey to become credit card debt free.

Wish me luck, I'm going to need it!