I’m horrible about impulse buying control. If I want something, I usually order it. Because of this, I’ve accumulated a lot of credit card debt. And my credit cards are maxed out. Usually, I’ve been making payments, and then buying stuff on the cards again, keeping the cards maxed out.
I’m trying really hard to go on a spending freeze until February. The only things I’ll buy are essentials (groceries, meds, bills, pet expenses, etc.). I’ll still get the stuff I’ve already pre-ordered, but not ordering any new books, music, toys, DVDs/Blu-rays, comics, specialty foods, etc. This should allow me to pay a little on my credit cards.
I’ve currently got enough accounts that the payments are hard to keep up with. I’m only able to pay the minimum payments on most of the accounts. I’m able to pay a little extra on three of the six accounts. My rewards card I pay my cable internet, Amazon Prime, mobile phone, Hulu, and Evernote bills on, so I pay enough extra on top of the minimum to pay all of those bills. After the interest and the bills, I’m able to pay about $14 on that account. I’m paying $10 more than the minimum in November and $20 more than the minimum in December on my computer. I’m also paying $5 over the minimum on one my store card with my smallest balance.
I’m thinking if my spending freeze works out, I might do another one for the next 3 months. I’ll probably buy a few books between freezes, though. And catch up on my Transformers and Jem comics, if I can afford it.