thanks for that link!
I'm coming to the point in my life where I no longer want to be a working class slave to the Giant credit card companies (Chase Manhattan, etc). It's bad enough that I and my neighbors are working class slaves for those we work for- but why add the additional slavery of debt to that.
I live in a lower middle-class to poor section of the U.S., with a high lay-off rate, This is where I grew up, and where I hope to stay while my elderly parents are still alive.
Foolishly, I have accrued over $10,000 in credit card debt since the 1990's. Only last month has this debt been all paid off by the consumer Credit Counselling service I paid into. Now I have almost $9,000 more debt to pay off, and then I will be padding my bank accounts and adding more into my IRA. I realize that even with my IRA that I will not be able to afford the luxury of retirement as the last generations have.-- Especially considering the governement will have already drained out our social security by that time. my IRA will only be useful to keep me from being homeless by the time I am in my 80's.
Having the $440.00 monthly Consumer Credit Counseling payment gone now is making it that much more faster for me to meet that goal of paying off all debt.
I will not get a new car until all debt is payed off- and then it will have to be a used car-- with a large cash downpayment.
I have prayed that I would stop feeling the need to buy something I don't really need-- and this prayer seems to have been answered. I seem to be more content now- and only spend with extra cash.
Hopefully, this year-- through the grace of God, i'll be completely out of debt and can start padding my accounts before 2008- or before any tragedy strikes my area- as in Katrina--which created debt for people who never knew what debt was before.
I have a very bad feeling about 2008 being a financially bad year for America. I know in my State it will be, as they are planning a huge tax hike here. I also anticipate electric and fuel heating costs skyrocketing by 2008.
Life does not get any easier-- this is enough to sober anyone where I live out of debt.  |