JFrakes Personal Finance Blog

It's been forever since I've written anything on here..I still am credit card free, I think I'm going to stay that way for a long time. I know how I used them for completely unnecessary things and I don't want to do that again then have to struggle to pay them off.
This summer I wrecked my car coming home from work, I wasn't injured except for some bruises, but my car-that I almost had paid off was totaled...so I got a new Ford Focus and new car payments to go with it. It was weird how it worked out though, the back where I got the old loan for my first car wouldn't loan me the second loan without having a co-signer...maybe their reasoning is related to the horrible economy??? I don't know, I've made all my payments on time with them, and had the same job for the past 12 years..so I didn't get why they wouldn't loan me money the second time around.
Anyway I went through Ford Credit and my monthly payment is cheaper now that the loan payment was through the bank.
I got some additional money for missing work after the wreck and have managed to stick some cash back here and there...so right now my savings account has $500, in it and a savings account tied to my checking has another $500...I'm 38 and that is the first time in my entire life that I have been able to keep anything over a hundred or two in a savings account without spending it....That's my big goal for the rest of 2012 and all of 2013-to keep those amounts in there and add to it on a monthly basis.
Another goal I have is to cut down on my spending..that's going to be really tough..I work in a large retail store and it's way too easy and tempting to buy something every day.
My debt right now is the car loan and the loan I got during my last year at college to pay my last two semesters. That was a huge mistake on my part, I should have thought twice before accepting it, even if it would have meant taking some time off before graduating. The payments for that loan is the same amount as my car payment, so it's very doable with my income, but I really wish I would have thought it through before taking it. Live and learn I guess.

I used my tax return money to pay off my two credit cards, so now both balances are at zero, plus I was able to stick $500 in my savings account. I was trying to remember the last time I was credit card debt free, it must have been 8 years or more ago..that was back when I signed up for the Ameridebt program. It feels extremely great to have zero balances.
The thing that bugs me though is I had been down to one credit card because the last one I paid off a few months ago, I cancelled it because of the yearly fee they charge..so anyway I ended up with a new Walmart credit card because I was stupid and went overdrawn like $350 or so in my checking account, so I signed up for the card at the store where I work and used the cash out of it to stick in the checking account.
Is there a certain age when you stop doing stupid crap like that? I mean, I'm 35 now and really dissapointed at myself for being in the financial shape I'm in. I guess I shouldn't be griping though..these times we're in, a lot of people are in a lot worse shape than me. I think the important thing is to CHANGE...and I'm going to keep working on doing that.

I paid off the smaller of my two credit cards today, the balance was a little higher than I thought but I still feel good for having paid the full amount.
I wasn't sure what the yearly charge is for my two cards, I found out that it's $48...my boyfriend thinks I should cancel at least one of the cards because of this yearly fee. I haven't made up my mind about that yet.

I have made the following plans to pay off my two credit cards:

$307.14 balance Nov 1st 2009
pay $107.14 on Nov 13 2009
pay $100.00 on Nov 27 2009
pay $100.00 on Dec 11 2009
Zero balance.

$305.68 balance Nov 1st 2009
pay $105.68 Dec 28 2009
pay $100.00 Jan 8 2010
pay $100.00 Jan 22 2010
Zero balance.

Then pay off my mom the money that I owe her.
$100 on Feb 5 2010
$100 on Feb 19 2010
$100 on March 5 2010
$100 on March19 2010
Zero balance.

Then my car loan will be around $6200
so if I keep paying $200 a month, I should be debt free in about 2 and a half years.

The money I owe my boyfriend...well I've talked to him about paying him back several times, but he would rather I start saving as much as I can for an emergency fund.