Confessions of a financial dumbass

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So for several months now, I've been posting a financial update every month like a good little girl, noting my successes and (more often) failures.

But I haven't really been trying. See, the card(s) were still in my wallet, and I was still actively using one of them. I was still buying more than I had cash for, not sticking to any sort of budget, etc. And that, more than any of the catastrophes I've been looking at recently, was why the numbers weren't going down.

Which is why October's numbers will show lower savings and higher debt than September's did, once again, even though I got a raise.

And it's gotta stop, or I am never going to get out of debt or reach any of my goals.


I got another new 0% interest card and initiated transfers from the two cards I have with balances. Once those go through, I'll cancel the old cards. Then I will have exactly two credit cards--the one with the big balance being paid off, and the one connected to my bank accounts for overdraft protection. They'll both not be in my wallet, and neither one of them will have a number that is already pre-programmed into everywhere I like to shop. And then I pay, and I buy only what I can afford with the cash that is actually in my checking account each month. And I try in earnest to be a responsible financial citizen.

It's so long past time. This is so embarrassing, not just to not have a handle on it, but to have been pretending to really try and to have a handle on it for these past months. I can be such a spoiled baby.


Here's a suggestion:

Your credit score can be lowered by a lot of things, and having too much new credit and not enough old credit is one of them. So I'd suggest keeping open the oldest of your cards, and simply lowering the limit to $100 or whatever, so that you can't screw yourself over with it. That way, you're getting the benefit of the new 0% card, but also the benefit (credit score-wise) of your older card. It may not be old enough to count as old, but it will be old enough a lot sooner than the new one is.

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April 2012

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