Hi! It’s been a minute, I know! but I missed you guys!
So, this is a new thing for me. I took hours off during the first week of January, we travelled to visit family that we hadn’t seen in over a year due to the world state of things… and honestly, because of other commitments that somehow jump to the top of our priorities when they shouldn’t… but that’s what happens along with life and… here we are.
So, during that time, I tried to plan and set my goals for the year… I was (am) having trouble adjusting to my new schedule (or lack thereof!) and I was feeling all over the place. I have a million things I want to do, things I want to create and people I want to talk to and I didn’t know where to begin! I read and downloaded all the “Success Planners” available (mostly free because I can be cheap that way! Well, I bought one!) and then I couldn’t decide what to write, what I really wanted this year to look like. What were my non negotiables!
And that actually got me thinking about finances, not only mine but about my message and what I think every woman should know and do, to always be in control of their finances! I keep talking about finances being personal, which I truly believe they are and I truly believe you should create a Spending Plan adapted to your life and not the other way around, I mean that’s half way to success!
But lets face it, if you need to put a $30 dress on a credit card, you need to take a really good look at where your life is and if that’s the best you can or want to do! That’s just not reasonable, specially if you are not paying your credit card in full every month! I’m sorry, that’s just not ok! You will not win in life if you decide that that’s the best you can do. I know, I’ve been there! (I should’ve written this in caps because I was practically shouting it in my head as I was typing it!!!!)
Please don’t tell me you need a credit score and that you are accumulating miles to go on vacation because… well, if you are putting a $30 dress on a credit card that you are not paying in full at the end of the month, you are hardly in the position to buy a house so there really is no need for a credit score and as for the miles…going on vacation and putting everything else (because I’m assuming the miles paid for the plane ticket in full! ) on the credit card and getting home to more debt than you had before going on vacation, do you honestly believe it is relaxing? Again, as someone who has done all of that… it’s not!
Listen, I bought the house when I was putting my $20 dress on a credit card, I borrowed the 10% down payment, it was a personal loan, and I went on vacation, except there sere no “free” miles involved.
Can you guess what happened? Yep, I lost the house because I couldn’t afford it! When on vacation I would pray that the credit card would “work” each time I swiped it… sometimes it didn’t but I had a great excuse each time, at least I thought I did, I pretended I didn’t seen the look on the cashiers face and I would not go back to that place again during that vacation, I felt so ashamed! And I even applied for different credit cards before leaving on vacation (that I had no intention of using, mind you!) and came home to yet another $1000 in debt because, well, I had a new credit card there, all shiny and new… begging to be used and there was a dress, a $20 dress, that I just had to have…
I tell you this because I love you. I know this is exaggeration (actually, it’s not, it was my life!) and you are not there, but I’m telling you this so that you don’t go there! That you stop before you get there, take a look at what’s going in your life and run away from credit like the plague. And if you are there, I’m living proof that you can get out and get ahead!
This has nothing to do with hating credit cards, I applied for them, I used the money they lent me and I agreed to pay the 18% compound interest on it! I did that. This has everything to do with, you are not getting ahead borrowing money on those terms, they are getting ahead lending you money on those terms.
I know what you are thinking, “why the hell did she even think about planning her year if this is what she came up with!”. I asked myself the same thing! I guess I just go there because I feel so passionate about this. You don’t need to spend money to educate yourself when your finances are involved, just ask google! You can ask me too!
Sara
