Happy Credit Card Dance

Tuesday, August 5, 2014

Why would we ever do a happy credit card dance?

Because as of today, we are OFFICIALLY {CREDIT CARD} DEBT FREE!

Good bye bad credit and bad college reckless years. I will see you never again. I will learn from you and teach my kids to never be lured into free credit cards with a free sub. Yes, this happened. My ashamed face.

Without disclosing the amount, mainly because I am embarrassed, I had 5 credit cards by the time I was 21. What 21 year old should have 5 credit cards? None. That is the answer I am sticking to. Even when the statistics can speak for themselves.

My parents never talked money with us. Never taught us how to save our money and budget. My dad was and still is a spender. When my parents were married, my dad bought and bought things, vacations. The best of the best. The newest of the new. There was an understanding that Dad went to work to buy things but no sense of what money meant to buy all those things.

We weren't given an allowance to earn our money. Our birthday money was the only time we ever understood the concept that what we were given we could spend. If I can remember, we were given quite a bit. We felt pretty comfortable with the money we knew nothing about.

What I Wish My Parents Had Taught Me

Then, my parents divorced and my mom became a single mom. We were living paycheck to paycheck. Saving was the last option. I had 3 jobs at the age of 15 because I wanted to help my mom out. I saved and saved my money to put towards my first car. Paid in cash. I felt so proud, accomplished, invincible with my budgeting. But I didn't have bills or owe anyone money. Just a slight car insurance bill. The rest was fun money. I loved the fun money.

I clearly remember my first credit card application coming in the mail.I'm 18. I could have a credit card for gas. Nothing too big. It was thrilling to see my name on that card and be able to swipe it for my first gas payment. My only purchase that month. I paid it in full. See, I got this handled.

My excited face.

Then, came the Disney card. It gave me rewards for Disney purchases. Rewards that would save me money on Disney merchandise and trips. I love me some Disney. Sign me up! 

It then went Victoria's Secret, because, Victoria's Secret. Capital One for a $50 sign-up and CitiBank for student loan rewards and a sub. I thought I had it under control. Until, I didn't.

Balance went up, interest kept piling and I was out of work due to knee surgery. No one told me I could call and talk to them about it. Let's just say, things got serious and I have been paying for it ever since. It's cost me from saving towards for my future because I've been paying towards my past.

But today. Today, we are free. Free from that monthly payment. Free to dance around in that money if we want. If I can get the husband on board with that.

Pretend that's money
It feels so great to have that part of my bad financial past behind me. I am more determined than ever to continue on a good financial path for our future and our kids future. We will teach them about credit cards and managing money. They will be better set up for their future. Live and learn for our future kids I say.

Now, on to those student loans. I will throw a soiree when all of those are paid off. See you in 10 years.

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  1. Way to go girl! Best feeling ever..... Just don't let it build up again. I was doing so well and recently I have alowed it to grow. Sigh I need to get my but in gear and pay it off. Thanks for the inspiration.

  2. Thank you it feels great! Luckily, I have a husband who is a bill tracker and saver. He keeps me on track now. Take that inspiration and don't let the balance keep growing. Take it from me, it can get crazy fast. Good Luck!

  3. Congratulations! We did a definite happy dance when we paid off our credit card debt. We were able to pay off the cards the month before we bought the house and pay cash for our appliances and fence, leaving us with still $0 credit card debt! We are so happy to not have those pesky payments. I definitely think that we should be educating young adults on personal finance issues much more diligently than we do. :(

  4. WAY TO GO!!! i had some credit card drama and let me tell you… i kept the paper saying i owed $0.00 because i was SO PROUD! i'm currently on a mission to quickly tackle dentist bills and hopefully pay my car off early because i just want that feeling again. this inspired me to stick to my budget for another week. ;) THANKS!

  5. Whoo hoo!!! I'm down to my final $200 in credit card balances and then I'll be dancing around my house too.

  6. Oh my gosh I am so jealous!!! I have some way bad credit card debt that I can not seem to get out of. Mine actually wasnt bad starting out in college but it was when we got married and our honeymoon, a lot of that got put on credit cards because we paid for everything on our own. Then I had to pay for 2 of my grad school classes out of pocket, AND we put a lot on a Menards card doing house repairs. It all built up so fast and then you just get in this hole! ahhhh! I am so looking forward to the day we have it all paid off.

  7. Congrats!!! Good for you for paying them off and getting out of that debt! I never had credit card debt, thankfully. I have a credit card, but only use it every once in awhile and only if I know I will pay it off the next month. I hear you about those student loans...I'm totally throwing a party when those babies are paid off!

  8. We are trying to use a lot more cash and build up our savings. So glad I can put that money towards saving for our future now. And I definitely think offering credit cards for free pizza or student loan perks is a deceitful practice for uneducated college students.Taking advantage. And I fell for it!

  9. You are welcome! As soon as I get this last one in the mail, I might just frame it I'm that ecstatic. All my student loans are my next mission.

  10. You are SO CLOSE! It is a wonderful feeling and an early congratulations to you!

  11. Trust me, it wasn't easy and there was some drama and bad things with it. But I'm glad to finally have it behind me. And definitely don't be jealous, mine was early credit card debt that has cost me some things due to a poor credit score. You will get out of the hole your in, now that all of that is behind you. It will be easier to concentrate on paying down the debt to move forward. You can do it, good luck!!

  12. Thank you!! Getting credit cards was not the smartest decision I ever made. But I am so glad it is behind me now and I will definitely educate my kids on them. We can get through these student loans, somehow..


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