Every Tuesday, Smithee presents an article about his own experiences with credit cards and observations about the credit card industry.
So, nobody’s perfect.
After my recent embarrassing splurge that included a digital camcorder, an audio mixer, three microphones and a new Apple MacBook Pro, I was feeling pretty down on myself.
My credit card debt had gone from about $4,500 last July up to about $8,200 in October. Most of that was the computer, which I felt compelled to purchase mostly because I didn’t want to be using a hand-me-down when I started my new job. That sounds like rationalizing, of course, and it probably is. But because of the new job, I can afford to make even larger payments to my credit card. Each of those payments is now $548, and they happen twice a month, as soon as I get paid. I think of each dollar as a bullet that I’m shooting into the armor of my credit card debt. Blam blam blam!
So now, my credit card debt is back around $6,000, just about the same level as last June. I’m about six months away, and I can almost taste the freedom. The freedom to start saving in earnest, I mean.
But it occurred to me that the difference between the post-splurge amount in October and today’s amount is about $2,200, slightly less than the cost of the computer. I paid off the cost of a new computer in less than three months. An overpriced Apple computer, even. Hopefully I will soon be proud of more reasonable things, like owning assets which contribute a cash flow, but for now this small solace will have to do.
Six more months. I can do this.